Woman-owned company ready to build Ypsilanti housing development
Groundbreaking will take place in Ypsilanti for a housing development on Friday. It’s being constructed by Renovare Development, a primarily woman-owned business.
After more than two years of planning, the housing development on North Park Street in the Depot Town area is ready to put shovels in the ground. 23 of the 46 units will be set aside for people making between 40 and 80 percent of the average median income. The other 23 units will be sold for $210,000, which Renovare says is a significantly reduced rate from the cost of construction.
Shannon Morgan, managing partner for Renovare, says they look at community from a different perspective in what they build and design.
“As mothers, we’re thinking about our families, we’re thinking about our parents, we’re thinking about the type of tools and resources we need to have access to for what community means.”
The entire project is estimated to cost about $14 million. The first units will be available next summer. The entire project will be completed in 2024.
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