Project Description:
The Genesee County Land Bank is developing two residential blocks in the Carriage Town Historic District, at the southwest corner of Third Avenue and Grand Traverse and adjacent to Atwood Stadium. The $2 million development consisting of seventeen contiguous properties will be redeveloped with new and rehabilitated housing.
The Stone Street project will become the catalyst project for future re-development of the Carriage Town Neighborhood. Five existing homes in the neighborhood will be rehabilitated, while seven new homes will be constructed for home-ownership. The project designs have been approved by the Flint Historic District Commission, using the U.S. Secretary of Interior Standard's and historic district guidelines. The new construction, which will begin spring 2006, will complement the historical period of the homes in the neighborhood, using wood clapboard siding, Victorian ornamentation, historic fencing and lighting. The one- and two-story homes will feature 3 bedrooms, 2 ½ baths, and detached garages. As part of the redevelopment of the area, the infrastructure will be updated in the development area.
With the neighborhood's proximity to downtown Flint, Flint River Trail, Hurley Medical Center, The University of Michigan-Flint, Kettering University, and the Cultural Center along with the tax benefits of its location in a Renaissance Zone, it is expected that the demand for the homes will be very strong. Residential properties located within Renaissance Zones pay no property tax, city tax, or state income tax until 2012.
Background Information:
The Genesee County Land Bank began property acquisition in the neighborhood by tax-reverted properties and with the assistance of the Carriage Town Neighborhood Association and the Atwood Authority. Assembly of contiguous properties was necessary to maximize the impact in the neighborhood. This project will include partnerships with the neighborhood association, local lenders, developers and the Flint Office of Local Initiatives Support Corporation (LISC).
The Carriage Town housing project is one of several development initiatives in downtown Flint. Atwood Stadium is currently undergoing major improvements which will help refurbish the community landmark. In addition, an aggressive strategic plan is being developed for the property along the north and south sides of the Flint River which will encompass additional housing, parks, pedestrian bridges, riverfront trails and retail and commercial businesses. Kettering University has also begun the development of a Research Park along Chevrolet Avenue.
For Additional information Contact:
Michael Freeman
(810) 233-4299 www.thelandbank.org
