Michigan Affordable Rentals >> DETROIT Housing and Apartments >> RESTORATION TOWERS

Restoration Towers, Detroit MI - Subsidized, Low-Rent Apartment

16651 LAHSER RD
DETROIT MI, 48219-4820
Contact Name: PARAGON MANAGEMENT
Contact Phone: (313) 538-0360
Details: A 147 unit low-income senior HUD-subsidized apartment complex built in 1981, located in Detroit, Michigan. Restoration Towers currently maintains an Occupancy rate of 98%. Resident services include housing, meals, transportation, coordination of services by a staffed Service Coordinator, active resident council, social activities, health and safety education and computer literacy training through an on-site Neighborhood Network Center. In September 2004, Restoration Towers refinanced its Direct 202 mortgage loan under Section 223(f) MAP guidelines. The refinancing resulted in a cash savings of over $12,000 per month in debt service allowing the Project to set aside additional funds to cover the future capital needs of the building and to fund the operations of its Neighborhood Network Center. 20% of the savings is being used by the non-profit sponsor to fund its on-going mission for community outreach programs. Restoration Towers was the first section 202 Project in the state of Michigan to refinance under this program and one of only a few in the entire United States.

Website: http://paragonmanagementinc.com/Properties.html
Bedrooms Available: One Bedroom
Property Type: Subsidized, Low-Rent Apartment - Elderly
Utilities Included: N/A
To apply: Visit the management office for the apartment.

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