Marking a momentous day in The District Detroit, Olympia Development of Michigan and Cinnaire Solutions were joined on August 28 by Mayor Mike Duggan, Michigan State Housing Development Authority, Housing and Revitalization Department and other city officials to commence the restoration of Henry Street Apartments. Located in the Cass Henry Historic District, this housing complex will consist of 170 newly renovated units that both preserve history and incorporate modern design with 49% of the units at affordable rates ranging from 30% to 60% Area Median Income.
Henry Street Apartments is a first of its kind development that encompasses one city block and consists of seven buildings in total; six residential buildings and one centralized Community Center complimented by private parking and greenspace for tenants and their guests. The Community Center amenities include a business center with meeting space, fitness center, dog wash, extra laundry facilities, package reception and a leasing office.
“We are committed to improving the lives of people in Detroit,” said Keith Bradford, President of Olympia Development of Michigan and The District Detroit. “We are deeply grateful for our partners on this project and the partnership with the city of Detroit and the state of Michigan for making this possible. This development will transform the Cass Henry Historic District and further foster community.”
Henry Street Apartments is an $80 million public-private partnership and a historic restoration project that includes critical funding from the State of Michigan and the City of Detroit in addition to Olympia Development’s investment and Cinnaire’s contributions.
“This isn’t just any project. It is partnership and vision at its finest and wouldn’t have been possible without Michigan State Housing Development Authority, the City of Detroit, MSF and all the other critical partners represented here today,” said Cinnaire President Mark McDaniel. “One of the features that makes this development especially unique is the Ralston Commons, a community center where residents can gather to receive services, to celebrate and to engage.”
This project was made possible through loans from Comerica Bank and Bank of America, along with Low-Income Housing Tax Credits from the Michigan State Housing Development Authority, American Rescue Plan Act funding from the City of Detroit, and HOME funds from the city and the state, Michigan Community Revitalization Program funding from the Michigan Strategic Fund administered by the Michigan Economic Development Corporation, and ARPA funding from State of Michigan Labor and Economic Opportunity office.
Julie Schneider, Director of the Housing and Revitalization Department at the City of Detroit, said “We are thrilled to witness the groundbreaking of the Henry Street Apartments, a transformative project that embodies our commitment to revitalizing Detroit’s historic neighborhoods while addressing the critical need for affordable housing. This initiative represents a significant stride towards enhancing our city’s fabric, providing quality homes for a diverse range of residents, and preserving the architectural heritage that makes Detroit unique. Our collaboration with Cinnaire Solutions, Olympia Development, and various state and local partners highlights the power of public-private partnerships in driving meaningful progress and creating vibrant communities.”
The first of the seven buildings is expected to be completed in the spring of 2026. Neumann/Smith Architecture is the Designer and Architect-of-Record for the Henry Street restoration. O’Brien Construction, which also led the work on the historic Eddystone residences, is the construction manager. The properties will be managed by Elite Property Management.
Olympia Development of Michigan, an Ilitch company, is a real estate development firm dedicated to improving the lives of people who live, work, and play in Detroit and beyond. Through catalytic developments, innovative design and construction and inclusive placemaking, Olympia Development continues to create jobs, produce needed housing and attract business to Detroit while continuing to expand the city’s world-class sports and entertainment destination, The District Detroit. Other recent housing projects include restoration of the Eddystone residences, the Residences @150 Bagley in partnership with Bagley Development Group, 2525 Woodward Avenue, 52 Henry Street and 64 Edmund Place led by Edmund Place Partners, along with commercial development including Little Caesars Arena, 2715 Woodward Avenue, Little Caesars Global Headquarters and Columbia Street.
Cinnaire is a nonprofit financial partner that supports community and economic revitalization initiatives through creative investments, loans and development services. Since 1993, Cinnaire has invested $6.3 billion to develop more than 1,100 housing communities in nine states, providing 69,000 affordable apartment homes for more than 149,000 individuals and families and has provided community development loans to support the creation/retention of commercial, mixed-use, and community space. In its mission to change lives and transform neighborhoods into thriving communities, Cinnaire has helped to create or retain over 98,000 jobs and spurred $11.7 billion in economic impact.
