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Broderick Tower renovation draws tenant complaints and questions about abatements; council continues public hearing
Summary
TRR Equities presented a $45.6 million plan to renovate Broderick Tower into 125 residential units (20% affordable at 60% AMI) and 8,900 sq ft of commercial space. Tenants raised concerns about elevator failures, hot water, potential rent increases and parking; council voted to continue the item for one week for more data.
Detroit — A proposal to renovate the landmark Broderick Tower and seek a commercial rehabilitation district prompted a lengthy public-comment block on July 25, with tenants and advocates raising concerns about building services and whether an abatement is appropriate for a building that is already heavily occupied.
Staff presented a $45.6 million renovation plan reported to include 125 residential units, 25 of which would be offered at 60% of Area Median Income, and approximately 8,900 square feet of commercial space. City staff projected current taxes on the property at roughly $493,000 per year and estimated post-investment taxes near $642,000; the…
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