DETROIT—Downtown Detroit has undergone a remarkable transformation in recent years, as developers have renovated dozens of buildings now occupied by thousands of employees. In the latest chapter of the CBD’s bounce back, Capitol Park Partnership, a local development firm, has just secured the financing necessary to transform a 13-story tower in Capitol Park, one of downtown’s most historic neighborhoods, into a mixed-use building.

The developers will turn the 126,000 square-foot former Detroit Savings Bank building at 1212 Griswold into offices, retail and residences. The Archdiocese of Detroit will use the first five floors for new office space for 185 employees, retail will occupy the ground floor, and the top eight floors will consist of 56 market-rate rental homes.

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