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Historic Renovations Help Bring Back CBD

DETROIT-The downtown now has 6,000 apartments and an occupancy rate of about 98%.

chi-albert4 (2) The Albert of Capitol Park; the 127-unit luxury complex opened in the summer of 2014.

DETROIT-Developers have transformed the office market of Detroit’s CBD by renovating dozens of underutilized buildings and attracting hundreds of firms. But the now-vibrant office market has also sent ripple effects through the residential and retail sectors. The downtown has thousands of new apartments, and much like the CBD’s new office spaces, most are historic renovations rather than new construction.

One of the earliest of these efforts was at 1214 Griswold, a former senior living facility. Detroit-based firms Broder & Sachse Real Estate Services, Inc. and Kraemer Design Group, PLC collaborated to transform it into a 127-unit luxury complex. Now known as the Albert of Capitol Park, it opened in the summer of 2014 and illustrates the impact of housing renovations.     

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Brian J. Rogal

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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