First New Multifamily Residential Construction Project in 25 Years Opens in Downtown Detroit

First New Multifamily Residential Construction Project in 25 Years Opens in Downtown Detroit

DETROIT, MI - FOURMIDABLE, a national real estate property management and brokerage firm, announced the opening of The Griswold located at 1117 Griswold Street, in the heart of Detroit's central business district. The Griswold is Detroit's first residential new Downtown construction project in 25 years.

The Griswold is a $24-million apartment community, which sits atop a 10-story parking garage and retail structure, with 80 one, two and three-bedroom units occupying floors 11 – 15.  The apartment homes feature open floor plans with nine-foot-high ceilings, floor-to-ceiling windows, granite counter tops, stainless steel appliances, sealed concrete floors, state of the art heating and cooling and storage units.  All units boast unparalleled panoramic views of Downtown Detroit

"FOURMIDABLE is proud to have been selected as the Management Agent for The Griswold," stated Michael Schocker, President of FOURMIDABLE. "This is the second project where we have worked with the Roxbury Group and are honored to be part of their vision to help revitalize housing in Detroit."

The ribbon cutting took place on February 9, 2017 with Mayor Mike Duggan in attendance.  "The completion of The Griswold helps meet the growing demand for residential units Downtown," said Detroit Mayor Mike Duggan. "The fact that we are starting to see new residential construction, to compliment the many residential building restorations already taking place, is a clear sign of an increasingly strong housing market in Detroit." 

The developer is the Roxbury Group, Walbridge is the construction manager and Kraemer Design Group is the architect, all Detroit-based companies.

Apartments range from 750 to 1,600 square feet with rental rates from $1,030 to $3,500.

FOURMIDABLE is a national real estate management and brokerage company that specializes in managing, marketing and leasing market rate, tax credit, senior and family government assisted, public housing and rural development apartment communities. Founded in 1975, FOURMIDABLE currently manages 87 communities in ten states, with more than 9,256 units under management.

Source: Fourmidable / #Apartments #Multifamily

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.