The Detroit tribune. (Detroit, Mich.) 1935-1966, 1949-04-23
How Bad Do You Need A Home?

Detroit Union leaders housing advocates. and home
seekers should follow the example Of number Of Chicago
people who wanted do something about their housing
reeds. They adopted progra known as the mutual
Development mutual ownership plan This plan prov
icng homes for Chicagoans.
The experiment has been tried and is now working
There eleven mutual ownership projects Chicago to-
cay They total 1922 dwelling units and investment
q approximately s2o,o00o0o.
The major part Of this much needed housing is going
bv the architectural firm Of Hosan Klekamp and Taylor
Associated in trust operations with the Hosmsn firm
OTTER leading architects Pace Associates Leonard Way
Ludwig Mics wander Robe and Frank ]. Kornacker
Largest CDT project planned so far Is Parkway Gar
den Homes $4,000 00o community for the housing Of
Negroes Still in the financial stage but expected TO be
under construction Parkway will not only provide
homes for $40 mutual owners but will include eommuni
center and business section This the largest mu-
tus ownership project anywhere and the only for Ne
groes.
This is housing program where can all help our
selves We stop looking to others to solve prob
lens. Here is how the plan works
Suppose you 10 become mutual owner under the
Community Development Trust-this is what you do
Apply for apartment lease and at the time
10 Join in the acquisition development and
ship OF the specified real estate
You also agree place funds equal the proportion
ate equity cost in trust and authorize the trustees to
quire the property and build the apartment.
II the trustees accept your application you subscribe
10 the trust and deposit your funds in the
You receive from the trustees negotiable certificate
of shares showing the value Of your the trust
estate provided in the trust This certificate
is personal property You may pledge il collateral
dispose of to others without restrictions Some mutual
have been able TO sell their certificates SUBJ
stantial profit
The trustees will use your funds and those of the
other mutual together with the necessary
funds only acquire and develop the property as
possible at the lowest consistent with sound
construction safe financing and economical maintenance
Unlike the type Of corporations widely used in
past do not interest in specific apartment
You have interest in the entire estate and
lease continuing from year on the apartment
of your choice You change apartments when such
available without disturbing ownership You may
also sublet apartment any price you able to
get for maximum Of two years. without affecting your
ownership
After two years Of nonoccupancy. however the trus
tees have the right to call your certificate of interest AT
book value for sale to tenant who be mutual
owner
The trustees also have the power to terminate your
lease for but they can't force you to sell your
feate Of interest at least for years In other
words forced to because of inability 10 keep up
your monthly payments you have years in which 10
make the grade and get back in.
Equity payments CDT projects range from So 500
to $3.50 and monthly rentals" from $50 TO 1886.
The key to the Of Chicago projects lies in
having strong management control which must include
control Of occupancy For administrative purposes
mee Of tenant is appointed for each project but
the managing trustees have jurisdiction over all policy mat
ters, including evictons
This enables trustees TO maintain high occupancy
standards and thus prevent the property from deterora
ing We would like 10 Detroiters do something like
this We must help ourselves and stop waiting with our
hands out.