Detroit, Quicken Loans team for house rehab project

A $5 million grant by Quicken Loans is going toward rehabbing houses and making them move-in ready.

Rehabbed and ready, a home on Monica in Detroit's Bagley neighborhood will be up for auction next week.It is one of dozens of homes being renovated and sold in hopes of raising property values and re-populating communities.

It is getting a fresh start with a $5 million grant from Quicken Loans with plans for 65 homes in Detroit's Land Bank to be renovated and sold at auction.

"It's going to help the values of the rest of the homes in the neighborhood," said Dan Gilbert, founder and chairman of Quicken Loans.

"They're going to have two homes every single week renovated, rehabbed and ready to go," Mayor Mike Duggan said.

Crews from Home Depot are doing the rehab and hiring people from the neighborhoods to do the work.

The Rehabbed and Ready Program is starting in four neighborhoods on the city's west side - Bagley, Cary/ St. Mary's, College Park and Evergreen/Outer Drive.

The Rehabbed and Ready home on Monica Street in Bagley is holding an open house from 11 a.m. to 5 a.m. Saturday. The auction opens online at 9 a.m. Wednesday, closing at 5 p.m.

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