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Here's another example in Detroit that could make real estate owners giddy, but renters uneasy.
It's another example of the Manhattaning of Detroit.
A Corktown building is testing the limits of how chic Detroit has become by offering at $10,000-a-month apartment, Louis Aguilar of The Detroit News reports.
As rental prices escalate, renters with modest incomes could be priced out of the markets in downtown, Midtown and Corktown.
Aguilar writes:
The three-floor fully furnished loft with private elevator, fireplace and gym/spa is part of the renovated Bullock-Green HDWE building at 2556 Michigan Ave. The new rental unit, available this week, is on the same block as Katoi, the red-hot Thai-fusion restaurant — and New Life Rescue Mission, a soup kitchen. Both establishments draw large crowds.
“I have two guys interested,” said apartment building owner Christopher Burcham. One of the interested parties wants a separate, covered garage instead of parking in the main living space, which has a garage door that enables a car to pull in next to the 14-seat dining table.
