The $82.5 million renovation of the David Whitney Building in downtown’s Grand Circus Park appears to be on track with applications now being taken for its high-end apartments, where monthly rents range from the low $1,000s to the mid-$3,000s.
The website for the elegant Woodward Avenue building says down payments for the 105 residential apartments need to be made by Oct. 31. Renters can begin to move in starting in December, says the website.
The historic David Whitney Building, which has been empty for years, is being converted into the boutique Aloft hotel on its lower floors. Apartments are on floors 10 through 18. The hotel is expected to open by the end of this year.
Hotel and residential are two red-hot sectors downtown. Studies show nine out of 10 apartments downtown are occupied.
The David Whitney continues the downtown trend of average residential rent getting closer to $2 per square foot. Depending on the size and floor, renters will pay anywhere from $1.80 to more than $2 per square foot to live in the historic building.