The Ellington Apartment building occupies a lot on Woodward adjacent to the site of the Whole Foods (currently under construction) that will open some time in spring 2013. The last time we mentioned one of these renting, it was for $1,500/month. What about the sales? They seem to have been all over the place in the last two years. Unit # 22306, a 1,200 square-foot unit, went for $200,000 in June 2010 but later that year someone got a small 862 square foot unit for a mere $50 K. The most recent sale is a 1,300 square foot loft that went for $82,779 in January. But let's not forget that that was pre-Whole Foods ground breaking—an entirely different era for Ellington Loft prices. A new listing is clearly wise to the reports that Whole Foods increases property values. This two-bedroom just came on the market at $199,900 for 1,200 square feet and mentions the Whole Foods site in the listing, which also touts a private balcony, hardwood floors, granite countertops, and floor to ceiling windows.
· Whole Foods Detroit: The Brand's Ability to Bring Escape Velocity to Real Estate Doldrums [Curbed Detroit]
· 3670 Woodward Ave Unit 205 [Realtor]
· For $1500/month You'll Be Able to Walk to Whole Foods [Curbed Detroit]