Nardin Park Riviera Coop
Detroit, MI (2018)
The Riviera Cooperative will be a transitional affordable housing community sponsored by Nardin Park Non-Profit Housing and Community Development Corporation (NPHACDC). NPNHACDC in collaboration with the City of Detroit's Housing and Revitalization Department (HRD) will transform this historic Nardin Park community by eliminating the pervasive blight that has engulfed this West side community for several decades. NPNHACDC has assembled a team of housing operatives consisting of architects, builders, community activits, housing investors, and housing consultants to implement the planning and financing of this proposed transformative project. The core strategy of this transformative formula is the introduction of a housing community with a homeownership component.
The cooperative concept has been embraced by NPNHACDC and its development team as the most viable form of homeownership in this community. The cooperative concept enables the residents to own an equal share of stock in the cooperative coporation with shared expenses associated with the operation of the cooperative buildings, grounds, and mortgage expenses. This form of ownership is also a pathway to wealth building.
Ebenezer Ame Church Non-Profit Housing Corp
The City of Detroit