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$28
Million
in
funding
finalized
for
redevelopment
of the
historic
Strathmore
Reconstruction
of
Strathmore
Project
to Begin
in Next
30 Days
–
Residential
Development
Brings
Additional
Affordable
and
Market-Rate
Housing
to
Midtown
Detroit
DETROIT
- It has
been 11
years
since
the
Strathmore
Hotel
located
on West
Alexandrine
in
Midtown
Detroit
closed,
but in
approximately
18
months
it will
reopen
as a
residential
building
offering
affordable
and
market-rate
rental
units to
Detroiters.
During a
ceremony
today
outside
the
historic
8-story
building,
Detroit
Mayor
Mike
Duggan,
Midtown
Detroit,
Inc.
(MDI)
and
their
partners
announced
that
funding
has been
finalized
for the
$28
million
project
and that
reconstruction
on the
129
apartments
and
2,000
square-feet
of
ground-floor
commercial
space
will
begin in
the next
30 days
– once
the
environmental
remediation,
which is
currently
underway,
is
complete.
A
rendering
of the
new
Strathmore
was also
released.
The
redevelopment
of the
Strathmore
is being
led by
Midtown
Detroit,
Inc. and
development
partner,
McCormack
Baron
Salazar
based in
St.
Louis.
This
project
was made
possible
by the
public-private
partnership
comprised
of
numerous
funding
organizations:
United
States
Department
of
Housing
and
Urban
Development;
Michigan
State
Housing
Development
Authority;
Michigan
Economic
Development
Corporation;
City of
Detroit;
U.S.
Bank;
Invest
Detroit;
Detroit
Development
Fund;
Enterprise
Community
Partners;
Ford
Foundation;
The
Kresge
Foundation;
Hudson-Webber
Foundation
and
Midtown
Detroit,
Inc.
"The
redevelopment
of a
building
as
significant
as the
Strathmore
is a
great
boost
for
Detroit
no
matter
how you
look at
it,"
Mayor
Duggan
said.
"Our
development
team
chose to
get
behind
this
project
because
it fits
perfectly
into our
commitment
to
provide
Detroiters
the
opportunity
to live
in any
neighborhood
in the
city
they
want.
With its
significant
number
of
affordable
housing
units,
the
Strathmore
helps to
make
even a
hot
property
like
Midtown
accessible
to an
average
Detroit
resident."
Midtown
Detroit,
Inc.
strives
for a
mix of
market-rate
and
affordable
housing
in its
developments.
In the
redeveloped
Strathmore,
40
percent
of the
residential
units
will be
offered
for
affordable
housing
rates
while
the
other 60
percent
will be
market-rate.
“The
Strathmore
is an
exciting
and
significant
housing
development
for
Midtown,
and we
are
incredibly
grateful
for our
partners
who have
worked
tirelessly
to get
this
project
over the
finish
line,”
said Sue
Mosey,
President
of
Midtown
Detroit,
Inc.
Detroit-based
Hamilton
Anderson
Associates
has been
hired as
the
project
architect.
The
apartments
they are
designing
will
include
one and
two
bedroom
units.
Individuals
interested
in
becoming
a tenant
of the
future
Strathmore
Apartments
may call
Midtown
Detroit,
Inc. at
313-420-6000
for
preleasing
information.
In
addition
to Mayor
Duggan
and Sue
Mosey,
other
representatives
who
spoke at
the
ceremony
included:
Lawrence
Williamson,
Real
Estate
Manager,
Midtown
Detroit,
Inc.;
Sonya
Delley
Senior
Vice
President,
Invest
Detroit;
and Mark
Morante,
Senior
Vice
President,
Michigan
Economic
Development
Corporation.
“Creating
vibrant,
sustainable
and
unique
places
where
talent,
entrepreneurs,
and
businesses
want to
locate,
invest,
and grow
is a
critical
building
block in
a strong
economic
foundation,”
Morante
said.
“This
project
will
bring
new
vitality
to
Midtown
and
serve as
a
catalyst
for
additional
economic
growth.”
“McCormack
Baron
Salazar
is
pleased
to be a
partner
with
Midtown
Detroit,
Inc. in
the
redevelopment
of the
historic
Strathmore
hotel.
MBS,
after
more
than 25
years of
attempting
to work
with
Susan
Mosey
and MDI,
has
succeeded
in
moving
forward
with our
first
project
together.
We look
forward
to
working
in
Detroit
for many
years to
come,”
said
Richard
Baron,
Chairman
and CEO
of
McCormack
Baron
Salazar.
"U.S.
Bank is
proud to
partner
with
Midtown
Detroit
and
McCormack
Baron
Salazar
on this
amazing
project
that
will
provide
safe,
high-quality
housing
for the
residents
of
Midtown
and
surrounding
communities,"
Abhisek
Mitra,
assistant
vice
president
of U.S.
Bancorp
Community
Development
Corporation,
said.
"We are
happy to
help
finance
housing
that
will
support
the
continued
growth
and
revitalization
of
Detroit."
Other
residential
development
projects
recently
completed
or
underway
in
Midtown
that
include
affordable
housing
units
are:
•
Coronado
-a
recently
renovated
building
on
Second
Avenue
which
includes
24 units
of
affordable
housing.
• Cass
Plaza
-this
historic
renovation
project
is now
partially
occupied
with
more
units
scheduled
to come
on line
later
this
year
offering
47 units
of
affordable
housing.
•
Casamira
-located
on
Delaware,
this
property
is
scheduled
to be
under
renovation
this
year
with 11
units of
affordable
housing.
• The
Auburn
-a
completed
development
on Cass
includes
12 units
of
affordable
housing.
Midtown
Detroit
was
recently
listed
in USA
Today’s
10
Up-and-Coming
Neighborhoods
around
the USA,
highlighting
its
abundance
of
restaurants,
galleries,
community
gardens
and
markets.
And
dedicated
local
entrepreneurs
have
made
Midtown
an
attractive
hub for
small
businesses
with
high-end
shops
and
eateries.
Midtown
is at
the core
of the
city's
M-1 Rail
development
and
non-motorized
transportation
plans
will
soon
connect
the
district
to
Eastern
Market
and
other
neighborhoods
via
greenways
and bike
paths.
Background
on
Strathmore
Originally
built in
1924,
the
historic
8-story
Strathmore
Hotel is
located
at 70
West
Alexandrine
in
Midtown
Detroit
and the
Willis-Selden
Historic
District,
representing
one of
the
largest
concentrations
of
architecturally
significant,
late
19th and
early
20th
century
buildings
of mixed
uses
existing
in
Detroit.
The
district's
residential
and
commercial
building
stock
reflect
the
history
of the
area,
from its
development
as a
streetcar
community
in the
last
19th
century
through
the
intensification
of its
land use
in the
early
20th
century.
In the
early
20th
century,
the
Willis-Selden
Historic
District
became
one of
the most
important
areas of
suppliers
to the
auto
industry
and a
prime
location
for the
influx
of
people
seeking
jobs in
the
manufacturing
industry.
As an
apartment
hotel,
this
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