There’s a significant shortage of inventory for senior housing that’s predicted to get worse as the aging population is predicted to be 25% of the total population over the next decide. Additionally, nursing homes often cost states 3-5x more than assisted living, yet many communities lack affordable assisted living facilities.
This former senior housing building will be redeveloped as a service-enriched affordable assisted living facility where seniors can live independently and get assistance with the 6 Activities of Daily Living (ADLs). As a tax credit development, affordability is set at 60% of the area’s Average Media Income (AMI) with Medicaid waivers paying for the services..
Site Control
11421 Dexter Ave, Detroit
70,000 Sq ft
Market Rate Apartments
138 Units
4%/9% LIHTC
$25 million
Repositioning
Deals Highlights
This development is being built as a service-enriched environment where seniors can get their daily needs met under one roof.
Commercial Kitchen with 3 meals daily
Medication Management
Nursing Staff
Housekeeping
Laundry
Fitness Room
Activities
On-site Salon
Promo Video
Apartment presentation
Exterior
Location
Address
11421 Dexter Ave Detroit, MI 48206
Neighborhood Highlights
Designations: Historic
Downtown: 5 miles
Hospital: 3 miles
Bus Stop: 500ft
Airport: 19 miles
Let's talk!
We're ambitious about meeting shifting
market, capital and tenant demand.