Detroit Getting First Luxury Apartment Building in 25 Years
- Mar 26, 2015
Detroit—Downtown Detroit will soon see its first brand-new, mixed-use luxury apartment development in more than 25 years.
Village Green, one of the nation’s largest privately-owned luxury apartment owners and operators, recently received approval from the Detroit City Council and the Detroit Economic Growth Corporation to proceed with construction of Statler City Apartments. Ground will break in the second quarter of 2016 and finish fourth quarter 2017.
“This is a milestone for the City of Detroit. It’s just the beginning of a wave of new rental housing development downtown, and having the overwhelming support of the city council indicates this is exactly the type they want,” said Village Green CEO Jonathan Holtzman. “We are glad to be a part of the city’s evolution. Our company started downtown Detroit 96 years ago and now this will be our fourth downtown mid-rise or high-rise apartment community, bringing our investment when completed in the city to approximately $135 million.”
In speaking to the city council, Holtzman offered $50,000 to enhance the neighborhood and to guide other developers through creating additional new multifamily housing in the city. Holtzman and Village Green renovated the Fyfe Shoe Store building to apartments and acted as financial partners in Riverfront Towers Apartments. The company currently owns and/or operates Detroit City Apartments, Renaissance City Apartments and Millender Center and Elmwood Park Plaza Apartments.
Statler City Apartments will be a mid-rise, mixed-use community situated on Grand Circus Park. The location is on the People Mover line, next to the M1 Rail and just two blocks from the city’s professional entertainment and sports district. It will include about 235 apartments and penthouses. Community features available to residents include a market and restaurant, boutique hotel-style lobby, concierge services, indoor/outdoor pool, 24/7 fitness center, 24/7 business center and conference room, Zen Garden and courtyard park, and a club room with a bar, TVs, fireplace and gourmet kitchen.
Initial blueprints call for nano, studio, convertible, one- and two-bedroom apartments and penthouses. Some apartment features common to Village Green developments are high ceilings, wood flooring, kitchens with granite countertops and three finish packages, bathrooms with oversized bathtubs, full-size washers and dryers, custom closets, patios and balconies. Leasing is expected to commence fourth quarter of 2016.