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 to life. McIntosh Poris serves as the architect while Monahan Company acts as general contractor for this project that seeks to restore housing and preserve affordability in Detroit over the last decade.
Jed Howbert, Co-Founder of Greatwater commented “Midtown is one of the strongest, most walkable communities in Detroit and we’re excited about bringing much needed additional housing into its neighborhoods.” He further added “Our work is about much more than renovation or building structures—it’s about doing our part towards creating sustainable neighborhoods that can thrive for generations.” This mixed use development located at 3740 2nd Avenue promises an important contribution towards achieving these goals when it opens its doors soon!
