New 28-unit affordable housing building opens in Midtown

Detroit Mayor Mike Duggan today helped to cut the ribbon on a recently restored apartment building in Midtown that had sat vacant for more than 20 years.  The Treymore will now provide 28 units of affordable housing reserved for Detroiters making 50% to 60% of the area’s average median income (AMI).

The Treymore is a four story, 30,000 square foot apartment building that was erected in the early 1900’s and has sat vacant for more than 20 years.  The building’s future was grim until Paradise Valley Investment Group (PVI) purchased and redeveloped it. Having recently undergone a $7 million renovation, The Treymore now offers low-to-moderate income families and citizens of Detroit twenty-eight beautiful one and two bedroom apartments, representing a significant investment in a vital neighborhood exploding with possibility.

The City of Detroit contributed $3.5M in HOME program funds to the project.

“These are the kinds of projects the City of Detroit is happy to support because they are example of how Detroit comes back, there is room and opportunity for everyone,” said Mayor Mike Duggan.

The Michigan State Housing Development Authority (MSHDA) brought another $3 million in affordable housing tax credits, and Cinnaire stepped in to finance and syndicate those credits. PVI brought in several hundred thousand more in private equity and brownfield tax credits, and all this together, enabled a mixture of affordable units for households at or below 50% and 60% of area median income.

“Restoring this building has been life changing,” says PVI president and CEO, Robin Scovill. “Its condition when we started, juxtaposed with the finished product, is shocking. That we’ve created beautiful homes for people that need them, and are now celebrating that achievement with Mayor Duggan, is a testament to amazing partnerships, perseverance, and the spirit of possibility that makes this city so great”

Under KMG Prestige’s management, the newly renovated Treymore Apartments are already more than two thirds leased, and boast enviable natural light and views that overlook

Midtown, Downtown and an adjacent pocket park with a civil war era house. All units are fitted with contemporary amenities and include three ADA apartments.

The original building did not meet current code standards, and required a complete overhaul. The renovation of 28 loft style apartments—some 2-story—was a full, gut rehab with brand new everything inside, including windows, energy efficient HVAC and lighting. Exterior improvements include a new roof, new parking lot across the street, significant brick replacement, outdoor lighting, landscaping, fencing (including a new fence for the neighboring park, owned by the Archdiocese of Detroit), green space, and sidewalk & alley improvements.

The project’s architect, Merz & Associates, incorporated the Treymore’s original historic features, restoring the tiled front entry with cast iron and oak railings, scroll work entry canopy, and a four foot high parapet cornice. A new stair and elevator were added to the rear of the building, creating a secondary entry with ADA access to all levels and all units.

The Treymore’s location is rich with culture and walkability. Restaurants and retail shops are plentiful with intimate proximity to transit options. A few blocks north of the new Red Wings

stadium, The Treymore is a stone’s throw from the finest cultural assets in the Midwest including the Detroit Institute of Arts, the African American Museum, the Michigan Science Center, and Detroit’s Main Library. Downtown is a half-mile to the south, Eastern Market barely a mile to the southeast, and dedicated bike routes are plentiful. Cass Avenue, only one hundred feet away, connects directly to Wayne State University campus with all its offerings and benefits. And finally, one block to the east is Woodward Avenue, the north-south artery of the city and the routes for the Thanksgiving Day parade, the Veterans Day parade and the new light rail.

Through the redevelopment of The Treymore Apartments, Paradise Valley Investment Group and their team of strategic partners have created homes for people and families, transformed blight into vibrancy, and created enduring value for the City of Detroit.

Scovill, a Los Angeles based investor who has been developing in Detroit since 2007, brings a refreshing outsider’s enthusiasm.

“Darwin Heard’s faith in us and the City’s early financial involvement gave this project legs. Then Bob Zinser came on board with expertise and an impressive track record in development, and elevated it to a new financial stratum. Without MSHDA’s and Cinnaire’s unwavering commitment, Merz & Associates’ design genius, and Rhode Construction’s mastery, the Treymore would have never come to life so vibrantly. I’m proud of our excellent team and what we’ve accomplished, and am excited about what we will do together in the future.”

“Cinnaire is thrilled to join PVI, the City of Detroit and MSHDA in bringing this much-needed affordable housing to Detroit,” said Mark McDaniel, Cinnaire President & CEO. “We have been

committed to the revitalization of Detroit for over 20 years and this investment represents another step in achieving our goal of creating vibrant, sustainable communities in the City. The revitalization of The Treymore will bring new life to this neighborhood and continue to spur economic development throughout Midtown.”

Several Detroit companies played a major role in the redevelopment of the Treymore: