Detroit Development, the Knight Foundation and the Ford Foundation’s goal is neighborhood transformation. Affordable housing is a priority and commercial revitalization is important. The goal is to have a lasting transformation achieved by mixed income neighborhoods with a range of housing options supported by retail, service and community amenities. Residential and commercial developments reinforce each other. Physical re-development is catalyst for growing minority businesses, including contractors, construction trades subcontractors, professional service firms, etc., and creating jobs for Detroit residents.

Detroit Development will collaborate with other public, philanthropic and neighborhood development initiatives.
  Detroit Development has five (5) loan programs:

• “Late Stage” Pre-Development Loans:
      These loans bridge the gap between the early stages of pre-development and the stage where the project could qualify for pre-construction
      or construction financing

•   Small Business Loans:
      These loans are used for most business purposes such as working capital, equipment financing, A/R financing, business acquisition, sales
      expansion, etc.

•   Pre-Construction Loans:
     These loans are used after “soft cost” predevelopment investments or loans and before a project qualifies for construction finance.

•   Contractor Lines of Credit:
      Lines of credit for contractors are tied to a specific contract or purchase order

•   Michigan Saves Commercial Loan:
     These loans are used for energy efficient building enhancements
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