Henry Street in The District Detroit has had a block of handsome old apartment buildings sitting largely dormant for years. As of this month, people are living in two of them again.
Olympia Development of Michigan and Cinnaire Solutions celebrated the opening of the first phase of Henry Street Apartments on Oct. 8, according to the city of Detroit's announcement. The project is restoring seven historic buildings in the Cass Park neighborhood into a mixed-income, mixed-use community.
What opened, and what's still under construction
The first phase includes two residential buildings, Bretton Hall at 439 Henry and The Claridge at 459 Henry, plus Ralston Commons at 447 Henry. Ralston Commons used to be a bowling alley. Now it's the residents' amenity and community center, with lounge and gathering areas, a fitness room, a dog wash, package and mail facilities, meeting space, a kitchenette, a fireplace and the on-site management office.
When the whole project is done next summer, Henry Street Apartments will have 170 renovated apartments across six historic residential buildings built between 1900 and 1922. Nearly half the units, 49%, will be affordable for households earning 30% to 60% of area median income, mixed in with market-rate apartments. Residents in the affordable units can park in secure lots at no cost.
The other four residential buildings are under construction now and scheduled to be finished in spring and summer 2027.
"Restoring these historic buildings while navigating the complexities of design, construction, and financing mixed-income housing required a sustained commitment to getting the details right," said Keith Bradford, president of Olympia Development of Michigan and The District Detroit.
The team and the money
Here's what contractors will want to know. Neumann/Smith Architecture is the designer and architect of record for the restoration. O'Brien Construction is the construction manager, and the city notes it also led the work on the historic Eddystone residences nearby.
The financing stack is a long one, typical of mixed-income historic rehab. It includes loans from Fifth Third Bank and Bank of America; Low-Income Housing Tax Credits from the Michigan State Housing Development Authority; American Rescue Plan Act money from the city of Detroit; HOME funds from the city and the state; Michigan Community Revitalization Program funding from the Michigan Strategic Fund through the Michigan Economic Development Corp.; and ARPA money from the state's Labor and Economic Opportunity office.
Chris Ilitch, CEO of Ilitch Companies, said his family has been investing in Detroit for nearly 40 years. The city says Ilitch Companies has put more than $2.3 billion into 22 projects in Detroit, including Henry Street, Founders House, M-Block Park and the University of Michigan Center for Innovation.
"By restoring these historic buildings and creating new mixed-income housing, we are preserving an important part of this neighborhood while creating new opportunities for Detroiters," Ilitch said.
Mayor Mary Sheffield said the project is "bringing historic buildings back to life and creating homes where residents can be part of this neighborhood's future."
Cinnaire's chief legal officer, Lucius Vassar, said the nonprofit lender worked with Olympia to "assemble the resources and partnerships needed to advance the affordable-housing component."
Olympia also lined up local partners to run programs at Ralston Commons. Cass Technical High School will rotate student artwork through the building. Fifth Third will hold financial literacy classes. SER Metro-Detroit will offer youth workforce training, and the Detroit Area Agency on Aging will host health and wellness classes.
The location puts residents near Wayne State's Mike Ilitch School of Business, the coming University of Michigan Center for Innovation, downtown jobs and the city's stadiums and arenas.
Why it matters for Contractors
Henry Street is a good example of the kind of work that keeps restoration specialists busy in Detroit: century-old buildings brought back with modern systems, accessibility upgrades and a lot of careful finish work, all while preserving historic character and handling the paperwork that comes with tax credits and public money. With four buildings still under construction into 2027, O'Brien Construction is the firm to talk to about remaining trade work, from exterior work to MEP, drywall and finishes. More broadly, mixed-income historic rehab financed with LIHTC, HOME and state revitalization dollars is becoming a regular part of Detroit's housing pipeline, and contractors who can handle both old buildings and compliance paperwork have an edge.