Develop Detroit Inc.
Develop Detroit Inc.
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About this organization
Mission
Develop Detroit, Inc. (a Michigan corporation, not for profit) (DDI) is a community development firm whose purpose is to stabilize neighborhoods, combat community deterioration, provide access to and increase the availability of affordable housing for persons of low and moderate incomes, and to lessen the burdens of government in the city of Detroit, Michigan. DDI renovates and redevelops properties into high quality, inclusive housing that is well-designed and accessible to a broad range of Detroiters.
About
Real estate development- Develop Detroit purchased controlling interest in the University Meadows Apartments, a 53-unit low-income, senior citizen rental housing community. University Meadows is located in Detroit's historic Woodbridge neighborhood. The development plan for University Meadows includes the renovation of the existing building and the addition of newly constructed retail space and mixed income apartments. The final development will serve as an anchor to subsequent incremental housing and retail investments in the area. Develop Detroit is also developing other projects such as Eastern Market and the North End Revitalization Initiative (NERI).
Interesting data from their 2020 990 filing
From their filing, the objective of the non-profit is stated as “See page 1, question 1”.
When talking about its functions, they were outlined as: “Develop detroit, inc. is a nonprofit community development firm focused on providing affordable and mixed income housing, as well asstrategic economic and commercial development that will help stabilize and transform disinvested neighborhoods. ddi renovates andredevelops properties into high quality, inclusive housing that is well-designed and accessible to a broad range of detroiters. the firmdevelops across a wide range of real estate project types, including single-family rehabilitation and infill and multi- family preservation.”.
- The legally reported state of operation for the non-profit is MI.
- According to the filing, the non-profit's address in 2020 is 1452 RANDOLPH STREET SUITE 300, DETROIT, MI, 48226.
- The non-profit organization as of 2020 has a total of 12 employees reported on their form.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is between $100,000 and $250,000.
- Revenue less expenses is -$2,384,318.
- The organization has 10 independent voting members.
- The organization was formed in 2015.
- The organization pays $1,311,725 in salary, compensation, and benefits to its employees.
- The organization pays $259,219 in fundraising expenses.
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