• New development brings 78 affordable homes to Detroit’s Eastern Market and Lafayette Park area.
• $23.9 million development transforms a previously vacant site into quality housing in one of Detroit’s most vibrant and historic districts.

Develop Detroit, in partnership with the City of Detroit and project partners, celebrated the ribbon-cutting of The Hive on Russell, a newly constructed affordable housing development at 2033 Russell Street that brings 78 new affordable homes to Detroit’s Eastern Market and Lafayette Park area.

The $23.9 million development expands access to affordable housing in one of Detroit’s most vibrant and historic districts, providing residents with easy access to Eastern Market, Lafayette Park, the Dequindre Cut, public transportation, restaurants, businesses and other neighborhood amenities.

The Hive on Russell includes 39 studio apartments, 33 one-bedroom apartments and six two-bedroom apartments. All 78 apartments are rent restricted through the Low-Income Housing Tax Credit program, with units serving households earning between 30% and 60% of Area Median Income (AMI).

"The Hive is exactly what we want to see more of in Detroit, which is high-quality affordable housing that is accessible to Detroiters earning a little as 30% of the area median income," said Mayor Mary Sheffield. "Detroiters living here will have easy access to incredible services and amenities, including Eastern Market, transportation and more. I'm so proud of Sonya Mays for her tenacity in getting this project over the finish line with City support through ARPA funds and our Affordable Housing Trust Fund."

“Bringing The Hive on Russell to completion is a testament to what is possible when we stay committed to a vision and work collaboratively through challenges,” said Sonya Mays, President and CEO of Develop Detroit. “While the pandemic interrupted the original vision for this site, we overcame those challenges by being creative, flexible and in strong alignment with our project partners. Most importantly, we were able to preserve the part of the vision that matters most — creating quality, affordable housing in a place where people want to live.”

The project was developed by Develop Detroit and financed through a combination of public and private resources, including $4 million in City of Detroit American Rescue Plan Act (ARPA) funding, $445,000 in City of Detroit Affordable Housing Development and Preservation Fund financing, Low-Income Housing Tax Credit equity from PNC Bank and financing from the Michigan State Housing Development Authority (MSHDA), along with developer and sponsor contributions.

“Housing is foundational, and The Hive on Russell shows what that truly means. These 78 new affordable apartment homes put Detroiters right in the heart of a neighborhood full of momentum and opportunity,” said Amy Hovey, MSHDA CEO and Executive Director. “It’s rewarding to see our federal Low-Income Housing Tax Credit investment work with other partner funding to bring this project to life.”

PNC also played a significant role in helping deliver the housing, while Cinnaire served as a lending partner on the transaction.

“Detroit’s momentum is real, and projects like the Hive on Russell are a big part of why,” said Michael Bickers, PNC regional president for Southeast Michigan. “When families have access to quality, affordable housing in neighborhoods like this one, the whole community benefits. PNC is honored to support the work that Develop Detroit is doing to make that vision a reality.”

“Creating quality affordable housing requires strong partnerships and a shared commitment to the communities we serve,” said Lucius Vassar, Chief Legal Officer at Cinnaire. “The Hive on Russell is an example of what can be accomplished when public, private and nonprofit partners bring their resources and expertise together around a common goal. Cinnaire is proud to have played a role in bringing these 78 affordable homes to Detroit and helping create a place where residents can put down roots and build a future.”

The City’s investment supported the development of new affordable housing on a previously vacant 0.66-acre site at Russell Street, Gratiot Avenue and Service Street. Develop Detroit also recognizes Bedrock for its contributions to the project.

Designed for Residents and Connected to the Neighborhood

Located between the Eastern Market and Lafayette Park neighborhoods, The Hive on Russell gives residents access to nearby community destinations, transportation connections and neighborhood amenities. The development is within walking distance of the Dequindre Cut and Eastern Market.

For more than a century, Eastern Market has served as a gathering place for Detroiters, evolving alongside the city while maintaining its role as a center for food, culture, commerce and community. Today, Eastern Market emphasizes putting people first and ensuring that development benefits the broader community.

“Since 1891, Eastern Market has been a place Detroiters rely on to shop for fresh, healthy Michigan-grown produce and meats, start businesses, access jobs and experience the vibrancy and culture of Detroit’s oldest active food district,” said Katy Trudeau, President & CEO of Eastern Market. “Our mission at Eastern Market Partnership is to ensure these opportunities remain accessible to Detroiters well into the future. The addition of The Hive and 78 affordable homes to the Eastern Market neighborhood fits perfectly within that legacy and supports the continued growth of the neighborhood.”

“Eastern Market has always been a place of the people — a place where Detroiters come together around food, culture, commerce and community,” Mays said. “As Eastern Market continues to grow and adapt, it feels right that we are helping ensure there is housing here that meets the affordability needs of the people who work in this district and the people who aspire to call it home.”

The Hive on Russell adds affordable housing to that ongoing evolution, helping ensure that residents with a range of incomes can live near one of Detroit’s most important cultural and economic destinations.

The Hive on Russell features amenities that will support residents’ daily lives, including:

• Fitness room
• Business center
• Community lounge and terrace overlooking downtown Detroit
• Automated dog wash and turf dog walk
• Bike repair station
• Secured bike parking and storage lockers
• Podium parking and additional off-street parking

Construction was led by MHT Construction Management, with Continental Management serving as property manager.

A Long-Term Partnership

The development represents a collaboration among public agencies, nonprofit and private-sector development partners, community development lenders, housing investors, architects, contractors and property-management professionals.

For Develop Detroit, the completion of The Hive on Russell demonstrates the importance of maintaining strong partnerships and remaining adaptable throughout the development process.

“The fact that this project started in 2017 and is now opening its doors speaks to the commitment of the people and organizations that stayed with it,” said Mays. “There were moments when the market changed, the pandemic changed the circumstances, and the original plan had to change with it. But our partners continued to believe in the vision. That kind of long-term partnership is what makes projects like The Hive on Russell possible.”

“Detroit’s growth should expand the choices available to Detroiters, including the opportunity to live in affordable homes near the places and neighborhoods that connect our city,” said Adena Hill, program officer with The Kresge Foundation’s Detroit Program. “Hive on Russell brings 78 new affordable homes to that vision. Kresge’s longstanding partnership with Develop Detroit reflects our commitment to strengthening communities and helping more residents share in Detroit’s future.”

About Develop Detroit

Develop Detroit is a Detroit-based real estate development organization focused on preservation, new construction, mixed-income development and creating homeownership opportunities for Detroiters. Established in 2014 and led by Sonya Mays, Develop Detroit has developed more than 500 multifamily housing units in the City of Detroit and has worked on projects utilizing a range of public and private financing tools.