Detroit startup has new model for affordable housing

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

March 18, 2016
Detroit startup has new model for affordable housing

Century Partners renovated this house in Detroit. Photo: Century Partners.

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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