Historic apartment buildings get new life

• The nearly 100-year-old buildings hadn't been updated since the 1990s, officials said.

What they're saying: "Now that investors are back in neighborhoods like the one we stand in today, we'll see rates begin to increase and housing prices begin to skyrocket," Southwest Solutions president Sean de Four said at the opening. "What we want to make sure happens is legacy residents aren't displaced."

• "This is the kind of apartment building that in many other cities would have seen the rents explode and longtime residents be pushed out as building owners make more profit," Mayor Mike Duggan said.

Details: The buildings received an upgraded heating and cooling system, new kitchen countertops, appliances and flooring.

• Both will be offered at rates of 60% area median income or below — about $950 for a studio apartment, $1,000 for a one-bedroom and $1,200 for a two-bedroom, officials said.
• The rates are locked for the next 50 years.

Between the lines: Residents like Teresa Riley, a native Detroiter and cosmetologist who was relocated during the renovations, will be able to move back into the building.

• "I haven't seen it until now and I'm very excited," Riley said.