Construction cost
- Risk
- Early concepts can outrun achievable rents and financing.
- Control
- Design to budget, independent pricing, value engineering, and a visible contingency policy.
← Iron Oak overview
Phase One · Dexter–Linwood · Active predevelopment
A focused plan for responsible construction.
Iron Oak is developing a proposed first phase of three duplex buildings and six family-oriented rental homes on Calvert. The concept combines two new duplexes with the rehabilitation of one existing duplex.
3Proposed buildings
6Proposed homes
2 + 1New duplexes + rehabilitation
ActivePredevelopment stage
A clear view of the next steps.
Phase One remains in predevelopment. These milestones distinguish the documented concept from the work required before construction.
- Documented
Initial concept
The proposed six-home program and design direction are outlined in project materials.
- Pending verification
Site control and diligence
Confirm current control and title for every proposed parcel, then resolve site conditions, zoning and environmental requirements.
- Next milestone
Design, pricing and capital
Complete professional scope review, validate the budget and secure written financing and approval commitments.
- Future milestone
Construction and occupancy
Set the construction and leasing schedule after the required conditions are met. No opening date is announced.
Why this first phase
Focused enough to manage. Significant enough to establish a track record.
Phase One is how Iron Oak will establish its development track record before expanding to additional blocks.
Its job is to establish a repeatable development system: clear site control, defensible scope, supportable financing, disciplined construction, stable lease-up, and long-term ownership.
Historically compatibleFamily-orientedAccessible by designLong-term stewardship
Proposed development program
Three buildings. Six homes. One coordinated closing strategy.
The public page intentionally omits exact property numbers. Detailed site information can be shared with qualified partners as appropriate.
| Component | Delivery | Homes | Illustrative program | Current status |
|---|---|---|---|---|
| New duplex A | New construction | 2 | Family-oriented · illustrative 2–3 BR mix | Predevelopment |
| New duplex B | New construction | 2 | Family-oriented · illustrative 2–3 BR mix | Predevelopment |
| Existing duplex | Rehabilitation | 2 | Family-oriented · final scope pending diligence | Scope validation |
All unit counts, bedroom mixes, affordability levels, accessibility features, costs, and schedules remain subject to final design, zoning, underwriting, environmental review, and program approvals.
Lender-facing readiness
What is established—and what still has to close.
Credibility comes from naming the unresolved work early and assigning each issue a path to resolution.
- 01Pending verification
Site control
Confirm current control and title for every proposed parcel, then resolve site conditions, zoning and environmental requirements.
- 02Active
Project definition
The concept is defined. Architecture, engineering, scope, and cost validation must convert it into construction documents.
- 03Closing gate
Due diligence
Title, environmental, zoning, site-condition, and approval items must be documented and resolved before financing closes.
- 04Alignment needed
Capital stack
Construction debt, subsidy or subordinate capital, sponsor equity, and permanent takeout must be coordinated around supportable operations.
Risk discipline
The first phase should reduce uncertainty before it consumes capital.
These controls describe Iron Oak's intended management approach. Final requirements will be set with lenders, agencies, and the professional team.
Permanent takeout
- Risk
- Construction leverage can exceed debt supported by stabilized net operating income.
- Control
- Size permanent debt first; close the remaining gap with committed subsidy, subordinate capital, and equity.
Site + approvals
- Risk
- Unknown conditions or delayed approvals can disrupt schedule and cost.
- Control
- Maintain a diligence tracker, assign accountable leads, and clear closing conditions before mobilization.
Delivery capacity
- Risk
- A first project requires disciplined reporting and experienced execution support.
- Control
- Use qualified third-party design, construction, legal, and financial partners with defined responsibilities.
Design direction
Respect the block. Improve the building performance.
The current concept prioritizes historically compatible massing, family-sized homes, stepless access where feasible, adaptable first-floor features, alley access, covered parking, and usable green space.
Photography status: owner-provided site and property photography will replace or supplement concept imagery once approved for public release.
Partner pathways
Enter the project where your capacity matters most.
Use the inquiry form to tell Iron Oak about your interest and request the relevant materials.
01Lenders + CDFIs
Structure responsible leverage
Help size construction and permanent debt, define closing conditions, and align reporting with credit requirements.
Start this conversation02Public + mission capital
Close the feasibility gap
Align subsidy, subordinate financing, technical assistance, and affordability requirements with a financeable first phase.
Start this conversation03Design + delivery partners
Turn concept into bid-ready scope
Advance architecture, engineering, environmental review, cost validation, permitting, and construction planning.
Start this conversationQualified partner materials
Request the current Phase One package.
The response can be tailored to a lender, public agency, technical-assistance provider, design professional, or construction partner.
Current discussion materials may include:
- Project and ownership summary
- Proposed scope and design assumptions
- Readiness and diligence status
- Capital-stack questions and partnership needs
Workforce
Stable homes. Paths to work.
Iron Oak aims to connect neighborhood housing investment with opportunities for Detroit residents to build skills and access employment.
Training connections
Explore referrals to qualified providers for construction readiness, occupational training and supportive services.
Local hiring
Discuss attainable local recruitment and work-based learning opportunities with future contractors.
Housing and employment
Coordinate with community organizations around the relationship between stable housing, reliable transportation and sustained employment.
These are proposed opportunities. No training program, job placement, hiring quota or partnership is committed. Participation, roles and eligibility would be defined in written agreements.
Updated October 14, 2026
Take the project with you.
Download the two-page public summary in your preferred language.
Contact
Start a conversation with Iron Oak.
Tell us who you represent and how you would like to be involved. This form is for project and partnership inquiries, not housing or job applications.