Last month, the Detroit Economic Growth Corporation announced the appointment of Detroit native Arthur Jemison as President and CEO of the DEGC, effective December 15. As Detroit continues to emerge from the ashes of economic ruin, organizations like the DEGC remain at the forefront of the city’s revitalization. Under his leadership, rooted in expertise and a passion for the city, Jemison promises that Detroit, including the neighborhoods, will begin to reap the benefits of revitalization efforts.
“The DEGC has been the center of partnerships that have grown the city for many years and I’m looking forward to continuing that work. In particular, I’m interested in being the public-private partner, the partner to the private sector that enables investors to create new jobs in the city in everything from financial technology all the way to heavy industry. We’ve got the experience and the staff to do,” Jemison said of his appointment.
Through a three-year collaboration with the Detroit City Council, Jemison was able assist in the creation of an affordable housing ordinance that would require the allocation of 20 percent affordable housing of new developments while providing subsidies to developers seeking to do business in the city.
“Wherever the market is leading redevelopment, we’re requiring that there be affordable housing in those developments. What we worked on with Councilwoman Sheffield over the last two years was an ordinance that required that when developers need land provided at a discount or when they need subsidies that those subsidies begin to serve Detroiters,” Jemison said of the partnership with the City Council.
The allocation of affordable housing is two-fold, Jemison believes, because it not only benefits developers, but it will also provide the opportunity for Detroiters, many of whom are economically disadvantaged, the chance to live in some of the most sought after areas in the city.
“Most Detroiters are at 50 percent AMI (area media income) and need rental rates to be relatively low for them to be able to rent a new unit. The subsidies that people get and the requirements for developers need to target that income group. We’ve also created money or basically a commitment that there be an annual allocation for an affordable housing trust fund. We’re proud of our ability to do that.”
The ordinance is just one of the many efforts currently being made to provide and maintain affordable housing in the city. Jemison revealed, “The mayor is very focused on something called the Preservation of Existing Affordable Housing as seen with Cathedral Towers in Midtown. Which was a development that was up for sale and may not have been preserved as existing affordable housing, but we were able to make a cash infusion in that project to get that project to stay affordable for another 30 years. We’re doing the same thing at Washington Boulevard. It’s critical that where we have existing affordable housing and it might expire, that we act to prevent it.”
This investment in the neighborhoods through residential and commercial projects, he revealed, has inspired companies to relocate to Detroit in great numbers. As a result, this has generated opportunities for companies to expand their businesses and to also attract and create local industrial jobs that will to put Detroiters to work.
“Detroiters have shown a lot of patience and I think they are going to begin to see that patience rewarded,” Jemison said. “I think this is an exciting moment in our city. Detroit is rebounding from a bankruptcy and it’s rebounding from, in some respects, lower woes than in other places that I’ve worked. I think the reason for that is the resiliency of the people here. I recognize that resilience. The city has a particular African American flavor as well. I think we’ve got a heritage of ownership and a heritage of striving that I think is unique in the country.”
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