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The site provides 1,500 feet of Katy Freeway visibility to 46,032 vehicles daily and is the first development in the 106.6-acre Pederson Distribution Park, situated between Brookline, Pederson and I-10.
The campus for Jewish Living's 270,000 square feet comprises Frank Residences (113 assisted-living apartments and 77 memory care support suites) and a community center.
Despite rising interest rates, tightening credit and lingering uncertainty over the geopolitical climate, many commercial real estate experts remain bullish on the market going into the new year.
The plan features two residential buildings with an affordable housing component, plus retail and parking steps from the University of Michigan campus.
With $15 million in renovations, the Brooklyn theater constructed in 1928 was previously slated for conversion into condominiums. Instead the film house had its first weekend screenings.