A 12-story high-rise and 374 residential units are slated for construction in Detroit’s Lafayette Park neighborhood located just east of Downtown. The $108 million project is called Lafayette West and will lie between I-375 and Rivard Street where the vacant Shapero Hall now stands. Ginosko Development Co. will construct a 12-story building holding “114 luxury rental units…200 rental lofts…as well as 60 for-sale townhouses, carriage houses and flats with attached garages.”
With the talk of possibly removing I-375 to open up the east side of Downtown, this development could prove to be a wonderful location for Detroiters looking to walk or bike to work downtown. The site is just an eight minute walk to Greektown Casino and a ten minute walk to Supino Pizzeria in Eastern Market. The Lafayette Park high-rise will include a rooftop terrace and a fitness center, among other amenities.
Because the project will cost more than $75 million, it will be subject to The Community Benefits Ordinance and must offer 20 percent of its units at an affordable price for the metro area. More than half of the construction hours will be worked on by Detroit residents or Ginosko Development Co. will contribute to Detroit’s Workforce Training Fund. Groundbreaking is expected to happen next year and work should be completed by the end of 2020.
By Jared Hoffman
Senior Research Associate, JMJ Phillip Group