In 2006, Shelborne purchased a building at 14436 East Jefferson Avenue in this neighborhood from the City of Detroit and soon acquired two additional buildings purchased out of foreclosure.  These buildings became the housing and mixed-use project known as Chalmers Square.  This project provided 49 large modern apartments within the envelope of 3 beautiful historic structures along with 18,000 square feet of retail space.  Chalmers Square utilized the Section 1602 tax credit exchange program along with Brownfield Tax Credits, State and Federal Historic Credits and City of Detroit HOME Funds to successfully use $10.3 million dollars to be used to rehabilitate this extremely distressed area.  This beautiful project won two national awards in recognition of its contributions to start the revitalization of this area.

 

Multifamily Executive Magazine, awarded Chalmers Square with the 2014 Project of the Year Grand Award.

 

Novogradac Journal of Tax Credits honored Chalmers Square with an Honorable Mention for the 2013 LIHTC Property that Best Exemplifies Major Community Impact Award.  The community impact that Chalmers Square has had on the area has been not only rewarding but heartwarming.

 

River Terrace Square, built in 1932 is an important part of the historic Gold Coast community. From the historic 1920s-era luxury mid to modern high-rise living, Detroit’s Gold Coast offered a sophisticated, urban lifestyle. Residents of the Gold Coast enjoy unparalleled vistas of the Detroit River, Belle Isle, Lake St. Clair, and Canada. The mid- and high-rise properties located on East Jefferson offer residential units in a variety of styles, sizes, and price ranges. River Terrace as one of the Gold Coast first complexes offers amenities such as secure parking, private access to waterfront patios and lawn, and exceptional vantage points for viewing the annual Hydroplane Gold Cup races and other special events. Shelborne purchased River Terrace in 2008 and in 2016 began a historic renovation of this beautiful mid rise  development. In 2021 as we near completion the press release reads:

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