[Broder and Sachse Real Estate Services]
Midtown's latest development ambitions took a big leap forward today, as Wayne State University and Broder/Sachse agreed to build a 9-story apartment building/hotel/conference center at the intersection of Cass and Canfield. When the dust settles in 2016, Midtown should have 248 apartments, 19,000 square feet of retail space, a hotel of up to 120 rooms, and a conference center able to hold up to 300 people. The anticipated cost: $60M. This is easily Midtown's biggest development yet.
The building site is currently a 1.5-acre chunk of parking lot adjacent to University Tower, just across from the Auburn Building. It's not known what retailers or hotel will occupy the space, but they're saying it will be a "mid-level" hotel, like a Holiday Inn. The original plan, announced back in April, described the development as being between 4-7 stories, while asking developers to begin construction during the summer. The new ETA is 2016.
· Insatiable Midtown Demands More Mixed-Use Development [Curbed]
· $60-million mixed-use development at Wayne State University to include hotel [Freep]