One goal of the University of Detroit Mercy Home Ownership Plan is to help revitalize the Livernois corridor.  University president, Antoine Garibaldi explained, “What we provide is a $5000 forgivable loan which individuals can use toward a down payment, closing costs or some other related expenses.”  The homeowner has to work with the University for five years, and then the entire loan is forgiven.

According to Dr. Garibaldi, “The incentive is certainly to have more of our faculty and staff in particular live closer to the university and to also be a very important part of the neighborhood.”

Source: Detroit2020.com