Detroit startup has new model for affordable housing

In addition to paying cash for the homes, Century Partners provides shares of its profits to the former homeowners. 

By Peter Fabris, Contributing Editor | March 18, 2016
Detroit startup has new model for affordable housing
Detroit startup has new model for affordable housing

Two Columbia University graduates formed a small-scale real estate development company, Century Partners, that renovates historic homes in Detroit for low-income housing rental units.

The duo set up a self-funded neighborhood association, which will provide affordable units to residents while also giving locals the opportunity to share in the profits. In addition to paying cash for the homes, the company provides shares of its profits to the former homeowners. 

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