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