$136 million hotel, apartment development coming to Detroit's east riverfront
Detroit — A Detroit-based development company says it hopes its $136 million mixed-use project will create a sense of community along the city's east riverfront.
According to City Growth Partners, the development along Atwater Street will include a 120-room boutique hotel and 360 apartments, 20 percent designated as affordable. It will also have 40,000 square feet of retail space.
“We’re really trying to do something special here,” Moddie Turay, CGP founder and principal partner, said Tuesday as he stood next to the site, currently vacant land at Atwater and Riopelle streets. “Along the riverfront, projects in years past have been isolating and keeping people out. This project is about bringing people off of the waterfront, people in the community, to be able to sit down at a restaurant, have a cup of coffee, stay at the hotel, etc. — a landing spot for the waterfront.”
The plans come as the Detroit Economic Development Corporation approved Tuesday a transfer of development rights from McCormack Baron Salazar to City Growth Partners.
City Growth Partners has partnered with New York-based architecture firm ODA. The plans call for every apartment, hotel room and retail space to have riverfront views. The property has about 487 feet of frontage along Atwater, Turay said.
“The goal of (ODA’s) projects is what really about doing spaces that allow neighbors to communicate with each other and actually build community,” he said. “One thing I think is unique about them is that they really focus on maximizing views. What we’re trying to do here is making sure as many units have clear views of the water as possible. From a design perspective we’re looking to do architecture as a destination.”
The developer is in the planning stages with ODA. Construction is expected to begin in the first quarter of 2020. It will take about 24 months for completion,Turay said.
Since its founding in late 2017, City Growth Partners says it has created a nearly $200 million portfolio of mixed-use projects in the greater downtown area. The group is involved in the redevelopment of the Brush Park neighborhood with a $56-million investment to develop a pair of projects — a townhouse development called The Brush 8 and a mixed-use development called The Brush House.
Due to the project’s price tag, it will fall under the city’s Community Benefits Ordinance approved by Detroit voters in November 2016 that targets developments worth at least $75 million, if the development gets $1 million or more in property tax abatements or $1 million or more in value of city property sale or transfer.
Turay said he expects to request tax incentives, including a Brownfield Tax Increment Financing to clean up the former industrial site.