For Detroiters who want to live near Eastern Market, The Hive on Russell offers a new option: affordable housing within walking distance of the historic food district and the Dequindre Cut.

Develop Detroit celebrated the opening of the 78-apartment development with the City of Detroit and project partners last week. Located at 2033 Russell Street, between Eastern Market and Lafayette Park, the $23.9 million project brings new housing to a previously vacant site.

Every apartment is rent-restricted through the federal Low-Income Housing Tax Credit program. The development serves households earning between 30% and 60% of area median income, expanding access to a neighborhood connected to jobs and public transportation.

For The Kresge Foundation, a longstanding partner of Develop Detroit, the opening advances a priority central to its work in its hometown: helping residents share in the city’s growth.

“Detroit’s growth should expand the choices available to Detroiters, including the opportunity to live in affordable homes near the places and neighborhoods that connect our city,” said Adena Hill, a program officer with Kresge’s Detroit Program. “Hive on Russell brings 78 new affordable homes to that vision. Kresge’s longstanding partnership with Develop Detroit reflects our commitment to strengthening communities and helping more residents share in Detroit’s future.”

A partnership sustained through change

The project began in 2017. Completing it required partners to adapt as the pandemic disrupted the original plans and development conditions shifted.

Develop Detroit, led by President and CEO Sonya Mays, worked with its partners to preserve the project’s affordable housing focus through those changes.

“The fact that this project started in 2017 and is now opening its doors speaks to the commitment of the people and organizations that stayed with it,” Mays said.

Public and private financing helped make the development possible. According to the city’s announcement, Detroit contributed $4 million in American Rescue Plan Act funding and $445,000 through its Affordable Housing Development and Preservation Fund.

PNC Bank provided Low-Income Housing Tax Credit equity, and the Michigan State Housing Development Authority provided financing. Cinnaire served as a lending partner. Developer and sponsor contributions also supported the project, and Develop Detroit recognized Bedrock for its contributions.

The Hive adds to the work of a Detroit-based organization established in 2014. Develop Detroit has developed more than 500 multifamily housing units in the city, with work spanning housing preservation and new construction.

Making room near a neighborhood anchor

Eastern Market has been a gathering place for Detroiters since 1891. Its businesses provide access to fresh food and opportunities for entrepreneurship, while the district’s public spaces connect residents to the city’s cultural life.

Adding affordable homes nearby gives more people the opportunity to make those connections part of their daily routines. Residents can walk to the market or the Dequindre Cut, with restaurants and other neighborhood businesses close by.

Katy Trudeau, president and CEO of Eastern Market Partnership, connected the new housing to the organization’s work to keep the district accessible.

“The addition of The Hive and 78 affordable homes to the Eastern Market neighborhood fits perfectly within that legacy and supports the continued growth of the neighborhood,” Trudeau said.

The building includes 39 studios and 33 one-bedroom apartments, along with six two-bedroom apartments. Shared spaces include a fitness room and business center, plus a community lounge and terrace overlooking downtown Detroit.

Residents also have access to a bike repair station and secured bike parking. MHT Construction Management led construction, and Continental Management serves as property manager.