Greatwater Opportunity Capital is bringing a new $14 million multifamily project to Detroit’s Midtown neighborhood. Located at 3740 Second Avenue, the 39,355-square-foot four-story building will feature 33 studios and 24 one-bedroom apartments. Greatwater leveraged Opportunity Zone funds and financing from Diversified Members Credit Union to bring this development into fruition. McIntosh Poris has been tapped as the architect for this project while The Monahan Company serves as general contractor with their decade of experience in renovating Detroit buildings to restore housing and preserve affordability.
Jed Howbert, Co-Founder of Greatwater stated “Midtown is one of the strongest, most walkable communities in Detroit and we’re excited about bringing much needed additional housing to the neighborhood.” He further added “Our work is about much more than renovation or building structures—it’s about doing our part towards creating neighborhoods that can thrive for generations ahead.” This upcoming development at 3740 2nd Avenue plays an important role in achieving that goal by providing residents with accessible living spaces along with business owners alike when it opens its doors soon enough!
