180 luxury condos planned for vacant east Detroit riverfront land

"A development with 180 luxury condominiums along the east Detroit riverfront is planned now that the Detroit Police and Fire Retirement System has sold vacant land on East Jefferson Avenue for $2.3 million.

Shelby Township-based Shamrock Acquisition LLC purchased the land, which totals about 2.75 acres and had been planned to house a new headquarters for the retirement system before it moved into One Detroit Center.

Matthew Duffield, principal of Shamrock Acquisitions, said Thursday morning that the two-building high-rise development will also include underground parking, a rooftop pool and patio, and possibly about 40 boat slips."

http://www.crainsdetroit.com/article...t-east-detroit

Good news for the east riverfront, and hopefully a good sales price for the land, benefiting the Police and Fire Retirement System

Good ideal, Detroit needs a Gold Coast/Park Ave. area with ritzy mega condos and super apts. to lure rich folks. A new richville community in Detroit and no poor folks and drug dealers in sight.

YAY DUGGAN

What's the chance of them allowing the city to include the land in the riverwalk? It would be nice if the riverwalk actually stayed along the river and had better continuity. Riding bikes out to Belle Isle can be a bit of a pain, and adding a stretch between would be helpful.

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Originally Posted by Spartan

What's the chance of them allowing the city to include the land in the riverwalk? It would be nice if the riverwalk actually stayed along the river and had better continuity. Riding bikes out to Belle Isle can be a bit of a pain, and adding a stretch between would be helpful.

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This site is past Belle Isle. This site is a number of lots east of Gabriel Richard park. Most with apartment buildings built right up against the river. The Riverwalk ends at Gabriel Richard park. The Riverwalk was never planned to go past Gabriel Richard park.

The last sentence of the Detroit Free Press article has me calling Skipper's Rule on this one until I see cranes in the ground.

""We're looking to find the right development team and construction team to work with," Houlihan said. "Who knows — it's possible that if we do find the right development team, they may want to buy us outright and take the reins and run with the project.""

This sounds like free marketing for a speculative investment where they're looking to sell the property to someone else for $3-4 million w/o doing anything. They were just the tools used to get it away from the pension system and into private hands.

Like the proposed mid-rise for the old Ashley florist site at VanDyke/Jefferson - this is till in "pipe dream" mode.

http://www.freep.com/story/money/business/michigan/2015/08/28/luxury-condos-detroit-riverfront-uaw/71291610/

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Originally Posted by belleislerunner

The last sentence of the Detroit Free Press article has me calling Skipper's Rule on this one until I see cranes in the ground.

""We're looking to find the right development team and construction team to work with," Houlihan said. "Who knows — it's possible that if we do find the right development team, they may want to buy us outright and take the reins and run with the project.""

This sounds like free marketing for a speculative investment where they're looking to sell the property to someone else for $3-4 million w/o doing anything. They were just the tools used to get it away from the pension system and into private hands.

Like the proposed mid-rise for the old Ashley florist site at VanDyke/Jefferson - this is till in "pipe dream" mode.

http://www.freep.com/story/money/business/michigan/2015/08/28/luxury-condos-detroit-riverfront-uaw/71291610/

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hard agree with u here...

While the announcement is exciting, I think I agree with the other poster. Need to sit back and see what will develop out of this. But the mere mention of new residential towers on the river is exciting. Especially outside of the "downtown" riverfront area if you want to call it that.

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Originally Posted by ndavies

This site is past Belle Isle. This site is a number of lots east of Gabriel Richard park. Most with apartment buildings built right up against the river. The Riverwalk ends at Gabriel Richard park. The Riverwalk was never planned to go past Gabriel Richard park.

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Ah whoops, I was just going by the map in the article that has a point on 7800 E Jefferson, thanks.

While I called Skipper's rule - I hope it gets built. I do like the design.

http://www.shamrock-acq.com/pending-projects.html [[last project on page)

^I'm not so sure that's the actual design. They likely just used that image as a place holder. Though it could very well be the sort of design features Shamrock might be aiming for.

http://condos.ca/toronto/ny-place-17-kenaston-gard

https://goo.gl/maps/bBz1K