ANN ARBOR, MI-Denali Development, which recently completed The Metro Lofts in Royal Oak, plans to build a 23-unit condominium project at 320 E. Liberty St. The designs are similar to urban lofts in former industrial buildings, but are new construction and will include underground parking and gym.

Denali purchased the vacant lot property from developer Ed Shaffran, who had been working for several years to get approvals to develop condos at the Downtown location. Shaffran purchased the property for $470,000 in 2001. The purchase price for the sale to Denali was not disclosed. When Shaffran, purchased the property, it held a condemned 1845 Greek Revival house.

Denali says construction should begin next spring and be complete by the start of 2006. Pre-selling will be handled by Ann Arbor-based Edward Surovell Co., which also markets Denali’s Royal Oak project. Prices are expected to range between $325,000 to just under $800,000.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.