CHARTER TOWNSHIP OF REDFORD
CDBG SUMBISSION FOR 30 YEAR CELEBRATION

Volney Park Place Redevelopment Project

	The Charter Township of Redford in Wayne County, Michigan with Volney Park Place Development Company are extremely pleased to submit this project for consideration in the upcoming Department of Housing & Urban Development - 30th Year Celebration Video. The Volney Park Redevelopment Project, an $8,400,000.00 investment is an excellent example of collaboration to re-build a neighborhood.
The Redford Union School District had an abandoned an elementary school, that includes 6.42 acres of land called Volney Smith School, over 10 years ago. This prime real estate was ideal for redevelopment; however, there were several obstacles to overcome before investors would seek to build. Redford Township, an older urban area, has seen little re-investment in the housing market over the past 50 years. Redford has maintained a strong housing market through in-fill development and housing rehabilitation projects, but we lacked new development. Therefore, developers were unable to assess the risk of making a large investment. As well, the area in which the property was located in a low/moderate area, according to US Census, thus creating fear that the project would not sell.
	Redford Township, needing to increase our population of school aged children & knowing that an infusion of new single family housing will change the dynamics of the neighborhood and community it was necessary to make this project feasible for an investor. The Township Officials teamed up with a local development company to offer an incentive package of financial assistance and tax incentives which made the project turn into reality. 56 single family houses are under construction with an additional 20 homes under consideration.
This project provides the Township and surrounding residents with new investment in an older neighborhood. The mature residential neighborhood surrounding the project site includes a large park and playground adjacent to the site. Redford Township utilized $300,000.00 from our CDBG allocation to install water & storm line and extend 27 feet of Delaware Road, for this road had been left unimproved. Redford Township Brownfield Re-development Authority also played a keep role in making this project come to fruition. The Brownfield Re-development Authority approved the tax capture of funds that will be generated by the new development. Unlike many recent residential developments in Wayne County, Volney Park Place will create affordable housing, with sale prices starting at $148,900 for an approximately 1,400 square foot home. The developer and builders will work on tight margins due to the known costs of land acquisition and development and house construction costs, as well as the unknown additional costs which may be incurred as part of this redevelopment project. National City Bank joined the effort to make the homes more affordable by offering a point lower than prime to homebuyers seeking a mortgage. Attached are photographs of the project under construction. It is anticipated that the work CDBG funded infrastructure - sewer, sanitary sewer and road will be completed by early June of 2004. The 56 single family units will be completed by 2005. If you have any questions regarding this project please feel free to contact Rochelle Katz (313) 387-2785. Ms. Katz is the Community Development Director for Charter Township of Redford, 12121 Hemingway, Redford MI 48239 or rkatz@redfordtwp.com.