The Atlas Lofts poised to rise near Eastern Market
The Eastern Market neighborhood will get new residential units with the $7 million conversion of 1440 Gratiot into a development named The Atlas Lofts.
The six-story building, owned by FIRM real estate, was constructed in the 1920s and formerly housed Atlas Furniture Co. The project will include 30 residential loft style units ranging from 360 to 1,300 square feet. There are four ground floor retail spaces that will range from 630 to 1,000 square feet.
Renovation work is expected to begin in the first quarter of 2021 and be complete in spring 2022. Detroit-based design firm Rossetti says the project will blend the history of the neighborhood with modern and stylish architecture.
"The design celebrates the maker aesthetic at the crossroads of industrial design, automotive and machinery, blending the elements of Detroit with modern modularity," Matt Rossetti, president of Rossetti said in a statement Friday. "Material selection will highlight historically significant details, such as wood, brick, and steel to reflect an eclectic industrial mix."
The project will focus on restoring the exterior of the building, particularly the Gratiot facade, said Michael Leinweber, vice president of construction for FIRM Real Estate.
"The interior of the building as well as its systems will see a complete renovation, with upgrades that conform to modern code, health, fire and safety
requirements," he said. "The work required is significant, as the building has not received any proper maintenance work or updates in several decades."
Sanford Nelson, whose FIRM Real Estate owns about 20 properties in Eastern Market, has renovated or is in the process of renovating several buildings in the area including the former Eastern Market Seafood Company building at 2456 Market and the former Eastern Market Antiques building at 2530 Market.
The multi-million-dollar plans are to revamp buildings whose maintenance has been neglected for years, and sometimes decades.