Some recent announcements indicate that several large public and private projects will be getting underway on the East Riverfront:
Dan Gilbert’s Bedrock development company purchased a 2.75 acre waterfront site from Syncora for $5 million. The site, located a few blocks east of the Renaissance Center, is zoned for over 400,000 SF of what will likely be residential development.
New concepts were unveiled for Milliken State Park that would expand its recreational amenities and make stronger connections to the Outdoor Adventure Center and the marina.
City Growth Partners, a development firm headed by a former Detroit Economic Growth Corp official, purchased the site immediately east of the Syncora site and plans to build 300 apartments and a 100 room boutique hotel on the 3.1 acre site. The developer is working with international architecture firm ODA, which should bring some sophisticated design to the riverfront.
The Stone Soap Building, a mixed use re-development adjacent to City Growth Partners’ new site, is expected to finally get under way this spring. The project will include 48 condominiums, a food hall, and a Shakespeare theater.
Though they will take several years to complete, these projects will bring a new level of activity to the riverfront. The increased density will be key to supporting the retail establishments and restaurants that are a natural fit for this neighborhood.