Islandview Village to see 131 units of market-rate housing

Residential Detroit LLC is developing 131 units of market rate housing in Islandview Village, a neighborhood located just blocks west of West Village. Developer Vic Semelsberger describes the neighborhood as “truly a mixed income neighborhood;” Messiah Housing is building low-moderate income housing in the same area. Islandview is just blocks from Gabriel Richard Park, the terminus of the under-construction Riverwalk and the gateway to Belle Isle.

Residential Detroit has two distinct projects in the pipeline. The first, English Village Brownstones, is a 105-unit townhouse development that consists of 25 multi-unit buildings. 42 of the units have been completed, of which 35 have sold. An additional three units that have not yet been constructed have also been sold. The units range from $230-280,000 and come in 2, 3 and 4 bedroom models. Semelsberger anticipates the entire project to be completed in 3-4 years.

The second project, English Village Lofts, is the conversion of the former St. Charles School into 26 loft condos ranging in price from $150-290,000 and in size from 685-1,665 square feet. Construction will begin in the fourth quarter of this year and be completed by the end of 2008.

Semelsberger estimates his company’s total investment in the neighborhood at $25 million. Site plans and renderings are available at englishvillagedetroit.com.

Source: Vic Semelsberger, Residential Detroit LLC