Leasing starts in newest rehabbed Corktown building
Bedrock offered a look Tuesday at its first redevelopment project in Corktown, the Assembly, a $39 million mixed-use building that will house retail, office and residential space.
The tour highlighted the residential component of the building at 1702 W. Fort, with leasing to begin Thursday for the 32 units that will include one, two and three bedrooms on the top two floors. The first tenants will move in starting July 1.
As part of its redevelopment of the 1913 structure, Bedrock added a fifth floor with 10 residential units with terraces. The building was originally a warehouse for the dry goods firm Edson, Moore and Company.
Jonathan Mueller, development lead for the project, said the development team figured the industrial building could accommodate an additional floor.
“Based on the size of the floor plate, the size of the roof, it was worthwhile to do,” he said. “We could get enough buildable space to create enough mass so it would be a nice place to live ... The indoor space is set back from the façade so it doesn’t change the look of the building from the outside."
Residential units range from 750 to more than 2,000 square feet. Rents start at $1,500 a month. A 2,075-square-foot unit on the fifth floor includes about 1,000 square feet of outdoor terrace space and will rent for $6,500 a month.
All of the units have hardwood floors — some original — as well as in-suite laundry, stainless steel appliances and large high-efficiency windows that meet historic standards. Bedrock received $6 million in historic tax credits for the project, Mueller said.
Residents will share a fitness center, a lounge with an outdoor terrace with a gas grill and fire pit and bike storage. Parking includes 50 below-grade spaces and a 465-space parking deck that's under construction.
The architect of record for the project is Birmingham-based McIntosh Poris Associates and the general contractor is Detroit-based Sachse Construction.
The tour Tuesday came nearly two months after Coyote Logistics, a UPS Inc. company, announced it would create a tech hub as the anchor tenant of the building. The company previously said it expected to employ 500, including 350 new positions, and move its Ann Arbor office during the fourth quarter of this year.
"It's a 10-year lease deal, which we're really excited about," Mueller said.
Views from the building include the West Riverfront Park, which is within walking distance. The park, reopened by the Detroit Riverfront Conservancy in 2014, will undergo a $60 million remodel. The conservancy recently received a $5 million gift from Delta Dental to construct a five-acre playground.
Mark Wallace, president and CEO of the Detroit Riverfront Conservancy, said the building offers an incredible location and view. He said he had been inside numerous times prior to the renovation, including when the building was home to the previous owner, event planner The Display Group.
"We’re really thrilled to see the building being renovated and redeveloped," Wallace said. "It’s exciting to see increased attention to that part of Detroit ... Folks moving to the Assembly will have a front-row seat to the transformation of that part of the riverfront."