Detroit’s New Center Beefs Up its Housing
- Nov 16, 2015
Detroit—Local development company Barbat Holdings has added new housing and retail space to a densely populated area in Detroit’s emerging New Center.
Regis Houze is a $4 million redevelopment of a 64,000-square-foot long-vacant building connected to the Hotel St. Regis located at 3071 W. Grand Blvd. In less than one month, the building will start renting 58 small-sized units targeting people who live outside Detroit but work for employers in the New Center area.
The unit mix at Regis Houze includes eight studios ranging in size from 310 to 365 square feet, 48 one-bedroom units of 525 to 600 square feet and two two-bedroom units measuring 870 square feet. The property also includes gated parking for tenants and two retail spaces on the ground floor.
Rents at Regis Houze vary between $543 and $639 a month for a studio, $919 and $1,050 for a one-bedroom unit, while a two-bedroom is available for $1,523.
The redevelopment project has created 144 temporary jobs, and the retail space is expected to create 17 permanent jobs.
The six-story building is the first project of the Woodward Corridor Investment Fund, a revitalization initiative managed by community development lender Capital Impact Partners. Back in 2014, Crain’s Detroit Business reported that Joe Barbat, the CEO & chairman of Wireless Toyz and founder & chairman of Barbat Holdings, purchased the building at auction for $995,000.
Rendering via Regis Houze