- Posted In: Lending
Great Lakes Financial Group continues to partner with Shelbourne Development as they work to revitalize Detroit neighborhoods.
In a recent article published in Affordable Housing News, Shelbourne Development explains how its financial partners have aided in the development project the company has been working on for over 10 years.
CLEVELAND, Ohio. – Dec. 9, 2015 – In the midst of the worst economic downturn the city of Detroit has ever experienced, Great Lakes Financial Group has continued to support Shelbourne Development as they work to revitalize the once lively downtown neighborhoods.
Many of the neighborhoods in Detroit have been left vacant for decades, leaving large areas with no affordable housing options. Just one of the many neighborhood projects that Shelbourne Development has taken on will bring back 8 blocks of a historic area of Detroit. The company has chosen to renovate the already existing buildings in these areas, making these projects much more expensive than building new.
“The challenge is always being able to put the financing together for these types of deals.”
Great Lakes Financial Group has chosen to continue it’s support of such an expensive project, knowing that the revitalization of these neighborhoods will help to support the city as a whole.
For further information about Great Lakes Financial Group, please contact Joe Bobeck Jr. at 216-861-1300.