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A development that will bring 374 residential units to the Lafayette Park neighborhood in Detroit will have a $108 million price tag and include affordable housing, city officials said Monday.

Known as Lafayette West, the 5.2-acre project sits between I-375 and Rivard Street at the site of the vacant Shapero Hall, which once housed Wayne State University's College of Pharmacy and Health Sciences.

Shapero Hall will be demolished and Ginosko Development Co. will build a mix of residential buildings including a 12-story high-rise with 114 luxury rental units ranging from ranging from 600 to 1,100 square feet with attached parking. The project will also include 200 rental lofts ranging from 450 to 900 square feet with enclosed parking, as well as 60 for-sale townhouses, carriage houses and flats with attached garages.

Because the development exceeds $75 million, it is subject to Detroit's Community Benefits Ordinance. As part of that process during the next two months, Ginosko Development Co. will hold six meetings with the community to develop a community benefits agreement. The first meeting for residents will be at 5:30 p.m. Tuesday at the Horatio Williams Foundation on Antietam Avenue.

"As Detroit's recovery continues, we want to make sure big developments like Lafayette West benefit not just new residents, but also the people of Detroit who have stayed through the good times and the bad," said Arthur Jemison, chief services and infrastructure officer in a statement Monday. "From hiring Detroiters for construction and funding workforce training programs, to providing affordable housing, to convening neighbors to negotiate benefits for the community, we are working to ensure Detroit's recovery works for everybody."

Lafayette West will include amenities such as a rooftop terrace and a fitness center. There will also be an affordable housing program that will set aside 20 percent of the 314 rental units for households making 80 percent or below the area median income, which is about $38,000 a year.

Ginosko expects to break ground in early 2019 with work to be complete by the end of 2020.

"We've been quietly on the rise for many years and I have grown to love this city and the people who make it amazing," said Amin Irving, president and CEO of Ginosko Development Company. "I'm grateful for this unique opportunity to contribute to the momentum and progress currently unfolding."

cwilliams@detroitnews.com
Twitter: @CWilliams_DN

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