The Griswold Building will eventually be remodeled as "market rate apartments," bringing more exciting news for Capitol Park. We earlier pointed to Sachse Construction/ Broder and Sachse Real Estate as the likely buyers of the Griswold Building, but now there's some clarification. According to company spokesperson Rebecca Amboy, the Griswold Building was technically purchased by 1214 Griswold Apartments LLC. The registered agent of that LLC: Richard Broder, the "Broder" in Broder and Sachse. They've sent us a statement pertaining to the purchase and the immediate future for those who live there now.
It's also important to clarify that Broder and Sachse is a completely separate company from Sachse Construction, even though Todd Sachse is involved with both, they often work together, and they share an office address. We were also assured that Bedrock isn't involved with the purchase at all.
Broder and Sachse is not giving any sort of timeline or details about the renovations, but Ms. Amboy did email us the following statement:
1214 Griswold Apartments, LLC recently purchased 1214 Griswold, a 127-unit, 12-story apartment building in downtown Detroit. Currently, the building is being utilized for Section 8 senior housing, but will be renovated into market rate apartments.
Residents received a one-year notice on March 29, 2013 that their Section 8 Housing Choice Voucher, U.S. Department of Housing and Urban Development's (HUD) tenant-based rental assistance program, will expire March 31, 2014. The owners are working closely with HUD and Wingate, the property managers, to ensure all residents are fully informed of their options, the Section 8 program voucher process and available resources. They are committed to providing residents with the utmost respect and care during this transition through residents' meetings and housing fairs.
1214 Griswold Apartments, LLC is voluntarily following the very stringent HUD contract cancellation requirements and working to execute a plan to re-voucher all current residents.
· Capitol Park's Griswold Building Just Sold; Is a Birmingham Construction Company the Buyer? [Curbed]