Grandmont Rosedale Development Corporation
“In 2007, there was a huge increase in foreclosures and a big spike in vacant properties in our neighborhood. Also, no bank out there wanted to lend anybody any money to do anything. To the rescue was Detroit Development Fund…they are financing the construction of our renovation projects.”
GRDC has purchased and rehabbed 20 homes in the Grandmont Rosedale neighborhood with the help of a line of credit from DDF. GRDC has moved in 16 new residents into the neighborhood and drawn 7 new residents to Detroit.
“DDF provides a source of lending when no one else does.”
– Tom Goddeeris