Latest riverfront development to add 480 condo units

Peter Zeiler of the Detroit Economic Growth Corp. says Belyue’s development plan for the 9.3-acre site, to be called @water Lofts, will include building "along Atwater Street on both sides. There will be four, five, and six stories of verticality, creating a street-wall effect. The materials are mostly stone and brick, which will fit in well with the character of what’s behind it on Franklin Street.”

 

Belyue’s development team includes architects Rosetti and Associates and he expects condo prices to range in the upper $300,000s. “This is such an exciting place to be," he says, "and I’m happy to be a part of it. The site is tied into Tricentennial Park and the RiverWalk, which will be great amenities for our residents. Atwater will be active and alive with retail.”

 

The two parcels are the third and fourth of seven parcels in the district for which DEGC sought developers. The other two projects for which developers have been selected are Chene West—to be developed by former Piston Dave Bing—and Chene East—to be developed by Charles Betters of Pittsburgh and football star Jerome Bettis, a Detroit native. Zeiler expects the first shovel in the ground as soon as development agreements are worked out between DEGC and the developers. “What’s most gratifying about these three teams is that they all want to be first in the ground. There’s some friendly competition between the three,” he says.

 

For his part, Belyue sees a picture that is bigger than just @water Lofts. “This project will be a catalyst for development not just along the river but all over Detroit. In lots of major cities around the country, once the riverfront took off, the whole city took off.”