The downtown area of Detroit has recently seen a surfeit of redevelopment efforts, bringing much needed changes and improvements to the area. Though most of the effort has gone into the core of the downtown area, there are plans in the works to extend it further beyond.
The historic Lee Plaza Residential Hotel on West Grand Boulevard in Detroit has remained vacant for several years. When it was built back in 1929, the 17-story building was considered a luxury high-rise with hotel services, and its Art Deco architecture was significantly acclaimed, earning it a place in the National Register of Historic Places.
Due to economic issues, the building changed owners several times before it was ultimately closed as a residence in 1993. It has since fallen into disrepair and remains a shadow of its former self.
Fast forward several years and the Lee Plaza Residential Hotel is now set to undergo a massive $200 million renovation courtesy of its buyer Craig Sasser, who also happens to be a Detroit native. The improvements will turn the building into a collection of 200 luxury apartments with market-rate prices. Currently, these prices are around $1.75 to $2 per square foot, though the renovation isn’t expected to open until fall 2017.
The Lee Plaza project is part of an effort that also includes the redevelopment of two lots near the building. Once complete, the projects should collectively help to revitalize the area.
This update is being brought to you by Matrix Renovations, one of the leading companies in hotel renovations. To learn more about their hotel renovation solutions and construction & installation services, contact them at +1-855-6-MATRIX.