Developers pull plug on apartment, condo projects in Detroit

**dtw** · March-11-20, 10:57 AM

Originally Posted by masterblaster

Why can't they build any mixed-use projects in Lafayette Park? Residential with coffee shops & retail.

I hope some final renderings show some improvement over what was recently released...they went from tasteful to generic, with absolutely no vision or nod to Lafayette park.

I did email the developer to express concern. The project as it stands is a lost opportunity.

**JonWylie** · September-14-20, 10:25 AM

Here is a flyer for their annual update coming up this Thursday. I'll be interested to see the presentation they give.

**JK313** · September-14-20, 02:13 PM

I wouldn’t imagine there will be much to share. Last I heard it was being put on hold until after covid. Although the start dates for construction had continuously come and gone even before covid

**Danny** · September-15-20, 09:32 AM

If developers don't have the money. Don't build it.

Also blame COVID-19 for this mess.

**JonWylie** · September-17-20, 01:34 PM

Looks like it's delayed until at least June 2021

https://detroitmi.gov/sites/detroitm...esentation.pdf

**Satiricalivory** · September-17-20, 02:41 PM

Welp we could see that coming from a mile away.

They said financing was gonna be finished in February. So annoying. They acted like they were gonna build this thing in a single year what a joke.

**southen** · September-17-20, 02:58 PM

Originally Posted by Satiricalivory

Welp we could see that coming from a mile away.

They said financing was gonna be finished in February. So annoying. They acted like they were gonna build this thing in a single year what a joke.

Silver lining is that it mentions the master plan remaining the same. Im sure it will get tweaked here and there based on pricing but the overall concept is great.

**JonWylie** · September-17-20, 03:23 PM

Originally Posted by southen

Silver lining is that it mentions the master plan remaining the same. Im sure it will get tweaked here and there based on pricing but the overall concept is great.

I assume the delay could also stem from the hotel operator. No sense in building immediately if your operator is getting whishy washy

**DetroitSoldier** · September-17-20, 04:30 PM

Honestly I'm okaybwith the delay on this one. Its not like people are lining up to develop that site. Take your time and get it right. I dont believe they are trying to back out of the deal as much as it is just a matter of bad timing.

**intelligentBeing** · September-17-20, 07:52 PM

Originally Posted by JonWylie

Looks like it's delayed until at least June 2021

https://detroitmi.gov/sites/detroitm...esentation.pdf

I listened in on the update meeting today. The representative from the developer said the hotel market is down but the multifamily/apt market is stable. Original plan was to build hotel piece as phase 1 then the apartment tower after. He said that in Jan 2021 they will determine for sure but they may build the apt tower first then hotel after, due to that change in market demand. Construction will not begin until June 2021, market dependent [[as all things are).

The hotel portion fronts woodward and the apt tower on John R. The concern was the flip in constructing the apt tower first would leave the woodward frontage undeveloped through phase 1 of the project, which people did not want to remain in dirt ridden construction site limbo any longer than it has to. Woodward frontage being more important visually than John R frontage.

Edit: also developer commented on financing. Those providing financing through equity remain bullish but those providing financing through debt have put a pause, makes sense. Overall the developer said they plan on continuing forward and are "not giving up on Detroit"