Ground-floor restaurant space and over 200 apartment units will fill the Albert Kahn Building in New Center after namesake architecture firm Albert Kahn Associates moves to the Fisher Building in May. Named after one of the most influential architects in the history of Detroit, the 1930 building spans 290,000 square feet and ten stories. Southfield developer Redico LLC is among the investment team that purchased the property in 2015 along with the Fisher Building for $12.2 million.
Albert Kahn Associates will expand their space by about 10 percent, filling part of the fourth floor and all of the 18th and 19th floors in the Fisher Building. Around 100 employees will make the move across 2nd Avenue in May. The investment team plans to turn the Albert Kahn Building into a mixed-use project with office space, residential units, entertainment, and retail. The redevelopment comes at a time of increased activity in the New Center neighborhood due to rising residential costs in Midtown and Downtown.
Quoted in the Detroit Free Press article from 2015, Chief Investment Officer of Redico Dietrich Knoer stated, “We are very pleased to have won the auction, along with our partners, and are excited to be a part of Detroit’s continued revitalization…With the recent activity Downtown and in Midtown, along with the imminent arrival of the M-1 rail, New Center development is the next step in Detroit’s comeback. We are pleased to have put together a local group of development partners with strong capital support.”
By Jared Hoffman
Research Associate, JMJ Phillip Group