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A rendering shows the planned Annapolis Pointe project in Inkster that would bring 72 new for-sale homes with prices targeted at a mix of incomes.
New housing in a Wayne County city aims to complete a neighborhood that felt the brunt of the Great Recession nearly two decades ago.
Developers are moving forward with Annapolis Pointe in Inkster, a $21 million housing project that would bring 72 new for-sale homes with prices targeted at a mix of incomes. A ceremonial groundbreaking for the development is slated for Friday afternoon.
The development is a continuation of sorts of a subdivision that got underway nearly a quarter-century ago, but was stalled due to the onset of the global financial crisis in 2008, with just 19 homes built, said ShaWanna Gajewski of Gajewski Homes LLC, the Annapolis Pointe developer.
Much of the land that was slated for the subdivision back in the 2000s has sat vacant since, but been kept up by neighbors who have cut the grass and generally maintained the land, Gajewski told Crain’s.
Credit: Robin Schwartz PR
ShaWanna Gajewski is the developer of the Annapolis Pointe project in Inkster.
“The City of Inkster is thrilled to be part of this development. We sold the land for the project and worked hand-in-hand to ensure we’re providing new affordable housing opportunities for our residents,” Inkster Mayor Byron Nolen said in a statement. “We hope Annapolis Pointe will attract people to Inkster and spur additional residential developments.”
To make the proposed development feasible, Gajewski has had to get creative. For starters, she’s keeping much of the services in-house, serving as the project’s developer, general contractor and real estate agent, allowing for significant cost control. She’s also partnered with the nonprofit Western Wayne Urban Community Development and modular home manufacturers Champion Homes and Ritz-Craft Homes.
Capital partners include affordable housing finance organization Cinnaire, the Michigan State Housing Development Authority and First Merchants Bank.
Credit: Champion Homes
The Annapolis Pointe project in Inkster will be a mix of ranch-style homes and a 1,600-square-foot Colonial.
The project is slated for several stages over about four years. Gajewski ultimately plans 72 homes at the site with ranch-style homes in the range of 1,300-1,500 square feet and a 1,600-square-foot Colonial model. Homes will be priced between $240,000 and $350,000 and targeted at those earning between 60% and 120% of the area median income, or $42,420-$84,840 for a single person in Wayne County.
Such housing appears to be in great demand, as Gajewski said she has a 40-person list of prospective buyers even before a shovel has hit the ground.
While affordable housing development has been common around metro Detroit for years, the vast majority is rental housing. Gajewski attributes that largely to financing and bringing multiple partners to the table was critical for a for-sale project.
“It’s so common for institutions, when you’re looking for financing and support and funding … to support rental (housing),” Gajewski said. “But it’s a different conversation when you’re asking for funding for such a short period of time that’s not going to yield 30 years’ worth of interest. It’s just not as financially attractive, so it has to purely be a community-based initiative.”
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