More apartments and a new hotel are coming to the east Detroit riverfront.
The $136 million development will bring 360 apartments and a 120-room hotel, reports Kirk Pinho of Crain's Detroit Business:
It's one of the latest in a string of waterfront investments attempting to capitalize on tens of millions of dollars spent on the Detroit RiverWalk and other projects in recent years, radically transforming the area.
The project by Detroit-based City Growth Partners LLC would also include 30,000-40,000 square feet of retail space and a boutique hotel, said Moddie Turay, founder and principal partner and a former Detroit Economic Growth Corp. executive.
The Economic Development Corp., which is staffed by the DEGC, approved Tuesday morning transferring development rights to the 3.1-acre property bounded by Atwater, Franklin, Riopelle and Rivard streets from St. Louis-based McCormack Baron Salazar Development Inc. to an entity affiliated with City Growth Partners.