The city of Detroit announced plans to raise $130 million in partnership with Invest Detroit as well as the Kresge Foundation and other local philanthropic and public organizations in an effort to provide commercial improvements, affordable housing, and streetscape and park improvements in seven neighborhoods.
The announced plans for the fund are:
- $49 million to invest in streetscape improvements
- $50 million will be invested in commercial corridor improvements to support commercial, mixed-use and multifamily developments
- $21 million will be invested to improve the city's park system
- $7 million to help stabilize single-family neighborhoods through home rehabilitation and increase density.
- $3 million will be invested in neighborhood planning efforts to ensure the community is part of process
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