Karp, Prater Complete $30M Conversion of Historic Building in Detroit
DETROIT — Developers Karp and Associates and Prater Development have completed a $30 million conversion of a former retail and office building into Capitol Park Lofts, a 63-unit apartment property in Detroit’s Capitol Park neighborhood. Floor plans range from studios to two-bedroom units with monthly rents starting at $998. The 80,800-square-foot building was originally constructed in 1912. The property, located at 1145 Griswold St., also features second-floor office space and Prime + Proper restaurant. The project team included architecture and design firm Kraemer Design Group and construction manager Buildtech.