This notice of foreclosure letter sent to residents does not really contain groundbreaking content, but it does make us start to wonder who will buy the Lafayette Towers once the foreclosure process is complete. The City has first right of refusal in the sale, but we can't think of any reason they'd want to take on the renovations and management with all the other problems they have to deal with. For an investor that is a fan of the building's famous architect designer, Mies Van Der Rohe, (we know you guys are out there!) this could be a pretty great score. The two buildings have 584 units together and incredible views of the lushy lush park greenery and the waterfront. Another other nearby tower, The Pavilion, is owned by Habitat, which used to own the Towers, too. A former Towers resident says that once Habitat did not have the Towers any longer they threw their efforts in The Pavilion and were successful, even managing to steal some unhappy Towers residents for that building. [CurbedWire Inbox]
· Residents Get HUD Foreclosure Notice at Lafayette Towers [Curbed Detroit]