Foundations give $2.5M to Detroit neighborhoods fund
Detroit — Another $2.5 million is being invested in a fund designed to better Detroit neighborhoods.
The John S. and James L. Knight Foundation has invested $1.5 million over three years into Detroit’s Strategic Neighborhood Fund.
Another $1 million has been awarded to the fund by the Ford Foundation.
The city says the fund is a more than $30 million public-private partnership.
Reinvestment initially is focused on the West Village area on the lower east side, the Vernor Highway corridor in southwest Detroit and the Livernois-McNichols area in northwest Detroit.
Developments include new commercial and residential projects and rehabilitation of existing residential properties.
Detroit’s goal is to expand the neighborhood redevelopment and community planning to an additional seven areas, spanning more than 50 neighborhoods, over the next three years.