Detroit Development Boom: Over $1.54 Billion Invested in 21 Major Projects

Thanks to recent data from Curbed Detroit, and the Downtown Detroit Partnership, we know that a significant number of development projects are getting close to completion.

As of October 2018, there are a total of 21 development projects in the Detroit area that represent well over $1.54 billion dollars in investment and over 4 million square feet of office, retail and residential space.

Projects to Look Forward To

Church of Scientology building – Formally the Standard Savings Building, this building has been owned by the church for over 10 years and is located at the corner of Griswold and Jefferson. The total project is projected to cost over $8 million dollars but it looks like it’s on track for completion since new signage and lightning were recently completed.

Gabriel House – Located at 305 Michigan Ave, this project is slated for completion this fall and is expected to offer 107 rental units.

Philip Houze – Want to live in the heart of Detroit’s business district? Located at 415 Clifford Street, this development is literally close to everything and is currently pre-leasing.

139 Cadillac Square – This site is Currently being renovated by the Ferlito Group. Formally known as the Lawyers Building, this development is expected to be a mixed-use building which will include 45 apartments, retail space, and a 7-Eleven.

Grinnell Building – Located at 1515 Woodward, the Grinnell Building has been off the market for over 60 years and it’s finally undergoing some extensive renovations including the cornices. Thankfully, the new owner is committed to preserving the timeless character of this building and renovations should be completed by the end of 2018.

More Big Development Projects Are Coming to Detroit

Besides the development projects listed in this article, you can also expect a wide variety of other major projects to take shape in Detroit in the coming years including a variety of projects around Harmonie Park.

To learn more about the latest developments in Detroit, or to speak with us about managing your rental properties, contact Strategy Properties today by calling us at (734) 224-5454 or connect with us online.

Here is the link to the full story: Detroit Development News