A new development near Orleans Landing and the soon-to-be-renovated Stone Soap Building on the east riverfront area will start taking shape in the next few years. The $136 million development is being spearheaded by Detroit’s City Growth Partners LLC, and the project will include 360 apartment units, a 120-room boutique hotel, and 30,000-40,000 square feet of retail space. Originally meant to be part of the second phase of the Orleans Landing project, the Detroit Economic Growth Corp. transferred development rights from the original developers, McCormack Baron Salazar Development Inc., to “an entity affiliated with City Growth Partners.”
The 3.1-acre site sits between Franklin Street, Riopelle Street, Atwater Street, and Rivard Street in the Rivertown – Warehouse District neighborhood just east of downtown. Construction is expected to begin in early 2020, with a two year construction timeline. An unidentified boutique hotel chain signed a letter of intent with the developers, and apartment units will rent at around $2.50 per square foot, with 20 percent of the units set aside for renters earning less than 80% of the median income for the metropolitan area.
The developers are planning to give all residents and hotel guests a view of the river, but is not expecting the building or buildings to rise past eight stories. The news comes at a time when the riverfront areas both east and west of downtown are heating up.
The Stone Soap Building across the street from this project is being redeveloped to include “63 residential units, 13,000 square feet of retail space including a European-style food hall, and a permanent performance space for Shakespeare in Detroit.” The Elevator Building, previously home to the infamous prohibition-era Purple Gang, has moved hands to a New York City investor with upgrade plans. Developer The Platform is also planning to redevelop the former Big Boy restaurant on East Jefferson into “an 8 to 10 story building with around 240 rental units and 11,000 square feet of commercial space”.