Project Description:
University Park is a 72-acre parcel in downtown Flint that is creating housing choices, which will lead to both residential and business growth in the City of Flint. The project has been a huge success and represents the first privately developed market-rate, new housing development in the City of Flint in more than 30 years. Due to University Park Estates being located in the Renaissance Zone, residents pay no property, city or city income tax until 2012. The homes range in value from $150,000 to $225,000.
Phase one began in 2001 with the construction of 63 homes. The $4.4-million development was sold out and fully occupied by the end of the year.
Phase two was developed with a $2-million infrastructure grant from the Charles Stewart Mott Foundation. Construction began in Fall 2003 and included 44 homes. The grant was used for underground water lines, sanitary sewer, storm drain lines, streets, sidewalks, underground utilities and landscaping. The Ruth Mott Foundation provided funding for perimeter and interior landscaping in the park areas.
A third phase will complete the project.
Background Information:
University Park Estates is located off Saginaw Street in downtown Flint between Cornelia and Harriot Streets.
For Additional information Contact:
Leon Knott
ERA Genesee Valley
(810) 732-7176
UNIVERSITY PARK ESTATES