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Cinnaire | Invests in First City Modern Building to Open in Detroit

Michigan Business Beat
April 29, 2019 3:00 PM

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The Flats at 124 Alfred Provide Modern, Affordable Housing Designed Exclusively for Seniors

Cinnaire recently joined Bedrock, Mayor Mike Duggan, Detroit City Councilwoman Mary Sheffield, Fifth Third Bank, community leaders and residents to celebrate the grand opening for The Flats at 124 Alfred. Located in Detroit’s historic Brush Park neighborhood, The Flats is the first building to open in Bedrock’s new 8.4-acre City Modern Development. Cinnaire, in partnership with Fifth Third Bank, provided a Low Income Housing Tax Credit Investment (LIHTC) to support the development.


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The first of 24-buildings to be constructed in City Modern, the Flats provide 54-units of affordable housing for seniors. The innovative development is designed to provide breathtaking views of Detroit, with light-filled interior spaces and open floor plans. Each unit includes floor-to-ceiling windows, walk-in closets and energy efficient, stainless steel appliances. Amenities include a fitness center on-site, residential lounge, outdoor garden spaces, bike share, gated parking and outdoor terraces.

“Just because a person is of low or moderate income does not mean they have low or moderate expectations for their families and children, or low or moderate need for quality in their housing,” said Lucius Vassar, Cinnaire senior vice president. “We are proud to join our partners from Bedrock, Fifth Third Bank, and the City of Detroit to provide this first-class, affordable housing development for Detroit seniors. The Flats residents will enjoy being a part of the revitalization happening here in Brush Park and living in such close proximity to many of Detroit’s landmark destinations.”

“Brush Park and City Modern is quickly becoming one of the city’s hottest neighborhoods with new construction and redevelopment lined up for years to come,” said Mayor Mike Duggan. “And here we have an entire new 54-unit building reserved for low-income seniors who will be able to live affordably right in the heart of this incredible revitalization.”

“When we broke ground on City Modern in November of 2016 on the very spot that is accepting residents today, we had an inclusive vision for this community,” said Bill Emerson, Bedrock CEO. “We prioritized completing the flats at 124 Alfred first because we know there is a huge demand in Detroit for affordable housing options, and today we celebrate a milestone in our commitment to building and preserving hundreds of affordable units in the coming years.”

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Michigan Business Beat, hosted by Chris Holman, discusses economic development, new or unusual entrepreneurial initiatives, and successful business practices from different regions and industries around Michigan with a wide range of entrepreneurs and business leaders.

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