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Article: Grosse Pointe condos get OK; others wait out market.(News)
- Article from:
- Crain's Detroit Business
- Article date:
- August 6, 2007
- Author:
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Daniel Duggan
Though the down residential market has sidelined several condominium projects over the last year, developers are planning a new development in Grosse Pointe.
The Morningside Group on July 23 was awarded a condo project by the city of Grosse Pointe to build 48 condos and 12,000 square feet of retail/commercial space on two city-owned parking lots north of Kercheval Street between Notre Dame and St. Clair streets. Asking prices for the residential units, which will average 1,200 square feet, will start near $300,000.
While new mixed-use developments have been rare over the last year, the market hasn't changed plans for ...