Detroit, MI 48235
About the property
Blackstone Cooperative was originally Constructed as an apartment community and was converted to a cooperative housing community under Section 213 of the National Affordable Housing Act in 1964. Blackstone’s HUD insured mortgage was “burned” by one of it’s original members at it’s Celebration and Mortgage Burning Party held in November of 1999. Blackstone Cooperative was one of the Nation’s first Cooperatives to naturally retire it’s HUD insured mortgage without refinancing or needing any additional loans or financing With it’s close proximity to expressway access, shopping and community services, Blackstone Cooperative provides affordable housing opportunities to senior citizens, young professionals and those in between. Units are comprised of 34 two-bedroom townhouse styled units, 48 one-bedroom apartment styled units and 291 two-bedroom apartment styled units. Some units also include heat in the carrying charges. You can see the current equity values, payment options and monthly carrying charge in the Fee Schedule section of our web page. Blackstone Cooperative is proudly managed by Marcus Management, Inc., who has been our management agent since 1975, and Ralph J. Marcus, the President of MMI, is our property manager.
The Detroit area continues to experience an explosion of new business, agricultural initiatives and large-scale city improvement plans. Concentrated areas of startups, independent retailers, fine food establishments, big brandname stores and entertainment options continue to surface, move forward and make headlines in Detroit, further proving that it’s GO time