Book Building and Tower renovation
sorry, couldn't find the thread for this!
Below is a quote from this week's Model D Media article. In the original thread, people were wondering about the rental rates and what not.
"Dobek says that Key spent three years researching potential developments and the Detroit housing market. For tenants, they are targeting the 80,000 downtown employees by offering rentals at a rate less than the suburbs -- along with the chance to potentially ditch a car payment. "There is a lack of affordable housing [[in Detroit)," she says. "There is an excess of low-income and high-end."
Recent news about the re-development
Here are some passages from the article in todays newspaper.
"Detroit City Councilman Kenneth Cockrel Jr. and the Green Initiative Task Force played a major role in helping Key Investment Group, according to both sides. And the potential deal still is going forward, said Rick Bowers, an aide to Cockrel."
"All of this is happening because this is green; otherwise, we would not have gotten the financing," Dobek said.
" Construction will begin this summer, with completion in three years. The first units are to be available in mid-2011"
"Key Investment spent three years researching potential developments and the Detroit housing market, Dobek said."
http://detnews.com/article/20100120/...ng-coming-soon