McCormack Baron Salazar to Break Ground on $65M Mixed-Use Project in Detroit
DETROIT — McCormack Baron Salazar Development Inc. will break ground on Orleans Landing near Detroit’s central business district this Tuesday, Oct. 20. The new mixed-use community will be situated on approximately eight acres adjacent to the Detroit River Walk and the Dequindre Cut Greenway. The first phase will include 278 apartments — 20 percent of which will be held for “affordable income” residents — and 10,000 square feet of retail, according to the Detroit Free Press. The development will include a mix of one- and two- bedroom homes, flats, lofts and townhomes.
The $65 million project was financed through a combination of conventional FHA 221 (d) 4 debt, a two-tier equity structure and public funds. Hamilton Anderson Associates Inc. is the architect. Urban Design Associates is serving as the master planner. O’Brien Edwards and Brinkman Constructors is the general contractor. McCormack Baron Management Inc. will serve as the property manager upon completion. The project is slated for completion in April 2017. According to Crain’s Detroit Business, plans for a second phase of the development call for about 230 more rental units and additional retail space.