What are the plans for affordable housing within the development?
Bedrock is committed to delivering affordable housing in greater downtown Detroit. As part of a recent agreement approved by City Council, Bedrock’s overall residential portfolio will be 20% affordable, including existing units that will be renovated and preserved as affordable for the next 30 years. As per that agreement, Bedrock’s Monroe Blocks, David Stott, Book Tower and Hudson’s developments will bring a total of 25 affordable units to the Central Business District.
How is the affordable housing price determined?
Affordable housing is defined by 80% of Average Median Income (AMI) in the area, which includes Warren, Livonia and Detroit. This falls around $58,000 of income for a family of four. However Bedrock has elected in some cases to price its affordable units at 60% AMI, below the requirement, in order to make its units even more affordable. This is true of Cathedral Tower in Midtown, an affordable senior development in which Bedrock is a developer, as well as the units at 28Grand in Capitol Park that are currently leasing.
What is the logic behind having the 20% portfolio as opposed to per building?
Bedrock wants to create neighborhoods that are mixed-income, rather than all affordable or all market rate. Also, it is not always financially feasible to have affordable housing in every building. Also, this arrangement allows Bedrock to assist in preserving existing affordable units as those opportunities become available.
Will there be parking for the residents/employees working and living in the structure?
The Hudson’s site development calls for a 700-car below-grade parking deck.
Will units be for rent or for sale?
Current plans are for rental units, however some may be for sale.
How will community needs of grocery and laundry be addressed?
There will either be in-unit washers and dryers or a laundry room within the development, and a ground-floor market is planned for this development to serve the grocer needs of the Hudson’s site as well as the surrounding area.
Will rooftop space be activated?
Current plans for the Hudson’s site include activated rooftops, as well as a public amenity at the top of the tower.
Can or will sidewalk lighting be installed to improve safety?
As we do with all of our projects, Bedrock will make sure sidewalks are well-lit and safe during and after construction.