Plymouth Square

Jonathan Rose Companies acquired Plymouth Square in Detroit’s Franklin Park neighborhood in May 2025 to preserve the affordability of this 280-unit HUD project-based Section 8 community serving low-income families and seniors. The initiative included a transformative $13.3 million capital investment, substantially renovating all existing units and building systems across the 14-storey, 200-unit high-rise and 80 townhomes.

The property’s Section 8 contract was renewed for the maximum 20-year term, ensuring that 100% of units remain affordable for at least 30 years to households earning, on average, 60% of Area Median Income (AMI), with a portion of units further restricted to 40% AMI and below. With support from the Detroit Department of Housing and Rental Development, the City of Detroit extended the property’s tax abatement for an additional 40 years.

Financing was achieved through an allocation of federal 4% Low-Income Housing Tax Credits (LIHTCs) and tax-exempt bonds issued by the Michigan State Housing Development Authority (MSHDA). Huntington Community Development Corporation served as the federal LIHTC investor, providing $14 million in equity and a $7.5 million equity bridge loan. Capital One Multifamily Finance originated an FHA Heavy 223(f) first mortgage of $23.5 million, cash-collateralizing the multifamily housing revenue bonds.

Resident engagement was central to the process, with on-site information sessions informing key scope decisions. The resulting renovation scope prioritized modernization and environmental sustainability.

In-unit improvements included new kitchen and bathroom cabinetry, hard-surface countertops, luxury vinyl plank (LVP) flooring, energy-efficient plumbing and lighting fixtures, and new stainless-steel appliances. Townhomes received high-efficiency heating and air conditioning systems. Security and life-safety systems were upgraded throughout.

Common area enhancements featured full elevator modernization, new domestic hot water and heating boilers, a new rooftop air unit, LVP flooring, and lighting upgrades, alongside improved security and life-safety systems.

The project includes funding for a full-time Resident Services Coordinator to support community engagement and resident wellbeing.