DETROIT — Olympia Development has unveiled the initial phase of residential development at The District Detroit, featuring six buildings. The plan includes the redevelopment of four existing buildings — The Alhambra, The American, The Eddystone and 150 Bagley — as well as the construction of two new buildings. Of the 686 total units, 139 will be designated as affordable housing for those making no more than 80 percent of the area median income. This is Detroit’s single largest project of new market-rate apartment units, affordable units and redeveloped historic buildings in more than 20 years, according to Olympia Development. Olympia Development has teamed up with American Community Developers Inc. on five of the properties near Little Caesars Arena. Bagley Development Group will assist with the redevelopment of 150 Bagley. Construction of the new buildings is expected to begin later this year, with the renovation of existing buildings beginning in 2018. The District Detroit is a 50-block, mixed-use development led by Ilitch Holdings Inc. encompassing theaters, sports venues, restaurants, shops, offices and residential space.
