Preserve on Ash Reaches 89% Completion: A LISC Investment Milestone in Detroit

LISC Fund Management is excited to share a significant update on Preserve on Ash Phase I, a transformative affordable housing development in Detroit’s North Corktown neighborhood. As of October 2025, the project is 89% complete, marking a key milestone toward delivering high-quality, affordable homes for the community. This development is on track for yearend finalization.

The Preserve on Ash is a brand-new community offering 1-, 2-, and 3-bedroom apartments designed to make life comfortable and convenient, complete with in-home washer and dryer. Preserve on Ash Phase I is the first phase of a larger revitalization effort envisioned in the City of Detroit’s Greater Corktown Framework Plan, which will ultimately be an 841-unit revitalization, with 69 new affordable homes at or below 60% area median income (AMI). This first phase transforms 1.65 acres of previously vacant land into a vibrant residential community featuring 17 townhomes, 5 triplexes, and a multifamily apartment building.

The new homes will provide modern, in-demand features such as attached garages, walk-in closets, energy-efficient appliances, and community amenities including a fitness center, community room, and outdoor spaces. This project is not only about housing—it’s about building long-term stability, supporting families, and revitalizing a historically disinvested neighborhood.

Thanks to The Community Builders, Inc., the Detroit Housing for the Future Fund (DHFF), City of Detroit, and MSHDA and all partners bringing new life and long-term affordability to Detroit, Preserve on Ash Phase I is bringing tangible progress and hope to North Corktown.

We look forward to seeing the community flourish as construction nears completion. Learn more about DHFF and LISC Fund Management's other impact funds.