|Plans call for $60M Detroit riverfront development||| Print ||
|Written by Associated Press|
|Tuesday, 23 July 2013 05:49|
DETROIT (AP) — A developer plans to build five blocks of apartments, town houses and small-scale retail on Detroit's east riverfront.
The Detroit Free Press reports (http://on.freep.com/13zIeWB ) Tuesday that the $60 million project would fill mostly vacant land east of the Renaissance Center and west of the Dequindre Cut Greenway.
St. Louis-based McCormack Baron Salazar specializes in urban projects and its chairman and CEO, Richard Baron, is a Detroit native. Baron says he thinks that there's "pent-up demand" for housing, in part because of workers in the city's downtown.
The project requires financing and multiple land-use approvals. Plans call for possible groundbreaking by spring. Completion is targeted for early 2016.
McCormack Baron Salazar would develop the first of a two-phase project that could later involve more housing and business space.
Copyright 2013 The Associated Press.