Printer Friendly

NBD AND GRANDMONT/ROSEDALE CELEBRATE NEIGHBORHOOD RENOVATION

 NBD AND GRANDMONT/ROSEDALE CELEBRATE NEIGHBORHOOD RENOVATION
 DETROIT, May 12 /PRNewswire/ -- In a cooperative effort to secure the stability of one of Detroit's neighborhoods, the NBD Community Development Corporation and the Grandmont/Rosedale Community Development Corporation (CDC) have completed the renovation of 14625 Abington.
 Grandmont/Rosedale and NBD funded the project on an equity basis; NBD was the limited partner while Grandmont/Rosedale served as general partner responsible for renovating the property.
 The Abington house had been neglected and vandalized for three years before the decision by the neighborhood CDC to acquire and renovate the home to stabilize the neighborhood and property values.
 The property was bought in November 1990; renovation began in February 1991; new owners are being sought to occupy the home by June 1992.
 "We're delighted that the partnership we've forged with the Grandmont/Rosedale CDC has resulted in this kind of achievement on behalf of one of Detroit's finest neighborhoods," said Thomas H. Jeffs II, chairman of the NBD Community Development Corporation. "We are interested in similar opportunities to make a difference with Grandmont/Rosedale and other community organizations."
 The Rev. William Kight, president of the Grandmont/Rosedale Community Development Corporation, said that their neighborhood has been strengthened by the renovation of just one home. "When there is even one bad apple in the bunch, the whole is spoiled."
 An open house to be held Wednesday, May 13, will provide tours of the renovated two-story, four-bedroom Dutch Colonial home.
 Grandmont/Rosedale CDC consists of four neighborhood organizations: Grandmont, Grandmont One, Rosedale Park and North Rosedale.
 The NBD CDC was established in 1989 to work with experienced community-based organizations on their development projects through short-term construction loans or equity investments.
 -0- 5/12/92
 /CONTACT: M. Renee Ahee of NBD, 313-225-2596; or the Rev. William Kight of Grandmont/Rosedale Community Development Corporation, 313-272-1790/
 (NBD) CO: NBD Bank; Grandmont/Rosedale Community Development Corporation ST: Michigan IN: SU:


JG -- DE030 -- 9221 05/12/92 14:46 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 12, 1992
Words:328
Previous Article:MEXICAN BANK PURCHASES 107 INTERBOLD ATMS
Next Article:THOMAS E. PRINCE APPOINTED CFO OF DOWNEY SAVINGS
Topics:


Related Articles
NBD BANK GETS 'OUTSTANDING' CRA RATING
NBD CONFERENCE ADDRESSES HOW COMMUNITY GROUPS ARE REBUILDING GREATER DETROIT
NBD AND WAYNE STATE TO CONDUCT SMALL BUSINESS RESEARCH
Detroit Mayor Dennis W. Archer's Weekly Public Schedule Monday, October 5 - Sunday, October 11, 1998.
Michigan Governor Announces MSHDA Grants to Improve Neighborhoods And Provide Affordable Housing.
Detroit Mayor Archer Recognizes Efforts Of Local Community Non-Profit Organizations.
President Clinton, NFL, Detroit Lions Unveil Grant for Detroit Football Field.
Detroit Mayor Dennis Archer Announces Neighborhoods with Highest and Lowest Census Response Rates.
PR Newswire Detroit Daybook for Weekend, August 25-26.
PR Newswire Detroit Daybook Update for Weekend, August 25-26.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters