It took about a year for the renovation, but Milner Arms Apartments at 40 Davenport St. in Midtown Detroit—now The Hamilton—has reopened for residents, reports Curbed Detroit’s Robin Runyan, who writes:
This was an unusual renovation. Broder & Sachse purchased the building in 2016, and while most renovations or new residential go for the 20 percent affordable, 80 percent market-rate method, the development group worked with the city and the United Community Housing Coalition to try to keep many of the current residents in place.
The building was about 60-70 percent occupied at that time, renting to residents below market-rate. With this deal in place, residents who qualified were temporarily moved out, and could choose to come back to the updated apartments. Their rent would face a five percent increase (if paying $600 before, it would go up to $630), and it won’t go up more than one percent a year.
About 28 residents came back, and they can stay with this rental rate indefinitely. Other renovated apartments are currently renting for market-rate.