4 vacant buildings in the Detroit Arena, owned by the Ilitch family, will be renovated as part of a major plan that involves overhauling a significant portion of the city near the Little Caesar’s Arena.
The 4 buildings in question are believed to have been vacant for several years. They will be joined by two newer constructions to form what will be Detroit’s largest residential undertaking in 20 years. The 6 new buildings will bring the total number of residential units to 686.
Out of the 686, 139 will be allocated as “affordable housing”.
Developing new housing is something that the Ilitches have included in their overall plan to breathe new life into the entire area surrounding Little Caesar’s Arena.
According to the CEO of Ilitch Holdings Inc., Christopher Ilitch, the latest project will be a “new chapter” in the company’s book. In the future, the company hopes to construct over a thousand such residential units.
The 4 old buildings that will undergo renovation are:
- The Hotel American, an 11-story building. It will boast of 163 new units after renovation and will probably be renamed as just “The American”.
- The Hotel Eddystone, which will be redeveloped with 96 new units and renamed as “The Eddystone”.
- The United Artists Theatre, which will be redeveloped with 148 new units, including a retail space on the first floor, and renamed after the area it is located in, “150 Bagley”.
- The Alhambra Temple, 100 new residential units will be added to it.
The 2 new structures will be:
- The One Eleven West at 111 Henry, which will consist of 80 residential units. However, it won’t be a complete residential structure.
- The Arena Lofts at 120 Henry, which will consist of 152 residential units and retail space on the first floor.
All properties will be under the ownership of Olympia Development of Michigan, which is also run by the Ilitches. However, management of the properties will be overseen by the American Community Developers Inc. The affordable housing units will be sold/rented only to those who earn below 80% of the area’s average income.