A newly built affordable housing property situated at 2033 Russell Street called The Hive on Russell recently celebrated its ribbon-cutting, an event hosted by Develop Detroit alongside the City of Detroit and project collaborators to introduce 78 fresh affordable residences to the area shared by Detroit’s Eastern Market and Lafayette Park. The $23.9 million project transforms a previously vacant site into rent-restricted housing designed to expand choices for households earning between 30% and 60% of the area median income.
For Detroiters seeking homes within walking distance of the historic food district, the Dequindre Cut, and public transportation, the development provides a fresh residential option in a vibrant urban neighborhood. The opening marks a milestone for a multi-year effort that survived shifting economic conditions and pandemic-related disruptions while preserving its core affordability mission.
“The Hive is exactly what we want to see more of in Detroit, which is high-quality affordable housing that is accessible to Detroiters earning a little as 30% of the area median income,” said Mayor Mary Sheffield, highlighting the city’s support through American Rescue Plan Act funds and the Affordable Housing Trust Fund.
Financing and Partnerships Behind The Hive on Russell
The project began in 2017, but completing it required stakeholders to adapt as the pandemic disrupted original plans and development conditions shifted. Develop Detroit, led by President and CEO Sonya Mays, worked closely with public and private backers to keep the housing affordable.
“The fact that this project started in 2017 and is now opening its doors speaks to the commitment of the people and organizations that stayed with it,” Mays said.
Public and private financing proved essential to realizing the development. According to the city’s announcement, Detroit contributed $4 million in American Rescue Plan Act funding alongside $445,000 through its Affordable Housing Development and Preservation Fund. Additional backing came from the Michigan State Housing Development Authority, while PNC Bank provided Low-Income Housing Tax Credit equity and Cinnaire served as a lending partner. Develop Detroit also acknowledged contributions from Bedrock, developer and sponsor contributors, and partner The Kresge Foundation.
“Detroit’s growth should expand the choices available to Detroiters, including the opportunity to live in affordable homes near the places and neighborhoods that connect our city,” said Adena Hill, a program officer with Kresge’s Detroit Program.
Detroit Building Offers Diverse Units and Local Amenities
The building features a mix of unit types to accommodate different household sizes, including 39 studio apartments, 33 one-bedroom apartments, and six two-bedroom apartments. Residents also gain access to shared amenities such as a fitness room, business center, community lounge, terrace overlooking downtown Detroit, bike repair station, and secured bike parking.
Situated between Eastern Market—a gathering place since 1891—and Lafayette Park, the new residences place tenants close to fresh food vendors, local entrepreneurs, restaurants, and cultural spaces.
“The addition of The Hive and 78 affordable homes to the Eastern Market neighborhood fits perfectly within that legacy and supports the continued growth of the neighborhood,” said Katy Trudeau, president and CEO of Eastern Market Partnership.
MHT Construction Management led construction on the site, and Continental Management serves as the property manager.
