Sawyer Art Apartments will serve as a catalyst for economic activity by combining new housing and unique commercial offerings. Designed to blend seamlessly with the surrounding neighborhood, the project celebrates the area’s cultural and entrepreneurial legacy.
This Black-led development project will be built at 7303 West McNichols in the Live6 area and be the first major ground-up new construction to happen along the recently completed $7 million McNichols streetscape upgrade.
The $13.1 million project had a formal groundbreaking ceremony Tuesday with Mayor Mike Duggan and the development team of George N’Namdi, Rod Hardamon of URGE Development Group and Richard Hosey of Hosey Development.
The building will be named Sawyer Art Apartments to honor contemporary Detroit artist Tylonn Sawyer, whose artwork will be installed inside and outside of the building.
Pictured: Richard Hosey – CEO of Hosey Development, Mike Duggan – Mayor, Roderick A. Hardamon – CEO of URGE, George N’namdi – CEO of N’namdi Holdings.
Affordable apartments named for artist to replace Detroit block of empty buildings
All 38 residences at Sawyer Art Apartments will be offered at reduced rents for those making 60% and 80% of the area median income, generally between $34,000 and $45,000. Those asking rents would start at about $750 per month for a studio apartment, $800 for a one-bedroom and $1,278 for a two-bedroom.
“When we first began this journey we had one goal. Let’s bring something that the neighborhood can be proud of.”
Proof In Numbers
The project is making use of a variety of nontraditional financing sources that allow for its below-market rents, including:
- A $3.5-million New Market Tax Credit award from Invest Detroit
- $4.35 million in financing from Capital Impact
- $2.5 million from the Strategic Neighborhood Fund
- A $1.1-million Brownfield tax capture
- A $1.25-million Michigan Strategic Fund subordinate loan
- A $1-million state grant through the Detroit Brownfield Redevelopment Authority
- A commercial rehabilitation tax abatement valued at about $63,000.
