Detroit Mayor Mary Sheffield signs executive order to invest in affordable housing
Detroit Mayor Mary Sheffield signed an executive order to more than double the amount of money for the Affordable Housing Development Preservation Trust Fund, an initiative she led during her time on Detroit's City Council.
The initiative would allow for all proceeds from the city's commercial property sale to go to the trust fund.
"I stand here as mayor now creating an executive order that 100% of all commercial sales will go towards the Affordable Housing Trust Fund," Sheffield said.
"The Affordable Housing Preservation Trust Fund. 70% of the funds must go towards units at 30% AMI or below. So this is housing for the extremely low-income residents in our city, which is really the greatest need of housing that we have in the city of Detroit."
This is a big increase over the current rate of 40%.
"So to have this level of investment in the first year alone, there's $4 million proposed in the 2026-2027 budget, which nearly matches the amount of funding that we get from the federal government for affordable housing, shows the level of commitment," said Julie Schneider, director of the Housing & Revitalization Department.
Nora Rodriguez lives at LaJoya Gardens in Southwest Detroit. Like other affordable housing developments, LaJoya Gardens received a $1.1 million investment from the Affordable Housing Trust Fund.
"When I came to LaJoya, you know, I had gone already to many other apartment buildings, didn't get what I needed," Rodriguez said.
"I just had my baby on Feb. 2, and he is thriving, and he's, you know, he's safe, got a safe space to live in. And I couldn't ask for anything better."
And more of these housing units are on the way.
The mayor's executive order takes effect on July 1, the start of the new fiscal year.