New 154-unit project in Midtown Detroit would honor developer and landlord Joel Landy
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The developers who bought the large portfolio of properties once belonging to the late Detroit landlord and developer Joel Landy are looking to build a 154-unit apartment building on one of the Midtown sites, just north of Little Caesars Arena.
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The proposed seven-story building would be constructed near the northwest corner of Woodward Avenue and Charlotte Street, on what is now mostly parking lots. It would snake around a red brick apartment building at the corner — the Addison — and have frontage on Woodward as well as Charlotte. The proposed building would be named The Landy, in honor of Joel Landy, who died in August 2020 at age 68, leaving behind no wife or children to inherit his properties. The building also would contain over 12,000 square feet of retail space.
The project's developer, known as "Landy Land LLC," is a partnership involving Detroit-based firms Civic Companies and District Capital. Last year, the partners successfully bid on a portfolio of about 55 Detroit properties that Landy owned when he died. [[The final sale price wasn't disclosed, although court documents once put it at over $17 million.) The proposed $66 million development is still subject to various approvals, including a proposed Brownfield tax-capture incentive valued at $18.3 million for the developers over 30 years.The developers are aiming to start construction next spring and finish by December 2027, according to project documents. The project would be the first to involve land that was in the Landy properties portfolio.
https://www.freep.com/story/money/bu...d/73169011007/
