(Read more on the multifamily market.)

DETROIT-A major announcement has been made regarding development in the Downtown–the Northern Group Inc., a New York City-based owner of a few Detroit landmark buildings, has said it will build two 24-story towers that will hold 84 apartments and more than 142,000 sf of retail. The $150-million Cadillac Centre will occupy the entire Monroe Block Downtown, between the Compuware World Headquarters and the Cadillac Square Park, in the redeveloped Campus Martius neighborhood.

The project will include the 24-story Skyloft Towers, which will hold 48 of the apartments; a 30,000-sf market, a cinema, more than 100,000 sf of retail space, a 14,400-sf health club and spa, 25,000 sf of boutique and specialty shops and a 40,000-sf public park. The top of the building will feature a 22,000-sf living roof, which will collect and filter rainwater and help control energy consumption, said Northern executives in a press release on the development.

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