Grosfield Building sold with redevelopment vision as restaurant, residences

[Airforceguy]

It's awesome to see that this gem on Michigan Ave in SW Detroit will be redeveloped.
Grosfield Building sold to Moisides with redevelopment vision as restaurant, residences

Developer and investor Christos Moisides paid an estimated $1.775 million in four separate transactions for multiple parcels making up nearly the entire block on which the three-story late Victorian building at 3365 Michigan Ave. sits.


One of those properties, which was damaged in a fire a little over a year ago, has recently been torn down. Fenced-off rubble now lays where the building at 3663 Michigan Ave. once stood.


Moisides said Tuesday that he has owned property in that area of southwest Detroit since 2017 and "was tired of seeing [[the Grosfield Building), year after year, get worse and worse." He talked to Invest Detroit, whose Detroit Investment Fund issued a $2.2 million mortgage in mid-June, according to Wayne County records.

https://www.crainsdetroit.com/real-e...ant-residences

[kuuma]

Great to see multiple parcels involved. Hopefully Moisides will connect with Chris Webber to realize the cannabis district that was teased in this render last year, since he now owns some of the buildings shown to be in the reno plans:

[Danny]

It better work. The last developer who bought those 120-year-old strip of buildings just stopped and the fire bug burned part of the building down.

[K-slice]

That Marathon is for used as a staging area for the ATV gang before heading downtown. I'm sure the new residents will enjoy that.