Nearly 700 residential units across six new redevelopment and ground-up construction projects are expected to be announced tomorrow morning for the District Detroit area, Crain’s has learned.
Sources said four redevelopments of vacant, historic buildings are planned, plus two new residential buildings.
Those to be redeveloped within the District Detroit area are the United Artists Theatre at 150 Bagley St. with about 150 units; the Hotel Eddystone at 110 Sproat St. with about 100 units; the Hotel Fort Wayne at 408 Temple St. with about 170 units; and the Alhambra Apartments at 100-112 Temple St. with about 50 units, according to the sources.
Two new development projects are expected to be on Henry Street near Clifford totaling about 220 units. The development groups involved in the projects are not known, but all of the property involved is owned by the Ilitch family.
Timeframes for construction, as well as redevelopment and development costs, are also not known.
Some of the new units are expected to be reserved for affordable housing and an unknown of retail space is planned for the projects.
The United Artists Theatre Building opened in 1928 and has 18 stories.
The Hotel Eddystone, which narrowly escaped demolition in recent years, has 13 stories and opened in 1924, according to HistoricDetroit.org, which tracks Detroit building and architecture history.
The Hotel Fort Wayne opened in 1926 and has 11 stories, while the Alhambra Apartments opened in 1895 and has six stories.
The District Detroit project, anchored by the Little Caesars Arena planned for completion in a few months as home to the Detroit Red Wings and Detroit Pistons, represents a planned $1 billion-plus in development and redevelopment north of downtown with residential, office, retail and entertainment uses in a 50-block area.
In January 2016, Crain’s first reported on a request for proposals that went out to the development community for 19 residential sites with about 1.44 million square feet of building space, plus an acre of Brush Park land. There were about 675 units identified in about 958,000 square feet specifically identified, including the four buildings expected to be announced for redevelopment tomorrow.
The announcement is expected at 11 a.m. Friday.
Among those expected to speak are Christopher Ilitch, president and CEO of Ilitch Holdings Inc., and Detroit Mayor Mike Duggan.
In a CNBC interview in the fall, Ilitch said there was a slate of about 750 apartments in six developments that were about to be announced. He said at that time that more than 20 developers responded to an RFP.
A spokesperson for Olympia Development declined to comment.