An entire year after the Midtown Professional Building was supposed to break ground, it looks like developers have changed their minds completely. According to Crain's, up to $5M in brownfield tax credits were awarded to a $33M development featuring apartments—not office space—on the corner of Woodward and Stimson.
A source involved with the project confirmed that the plan for high-end office space was abandoned months ago in favor of a residential building. The Crain's blurb says the project will contain 68 apartments, all of them one or two bedrooms in size. Additionally, the development will have 25,000 square feet of retail space and a 230-space parking garage.
It adds up to a building similar to Woodward Garden Apartments, except with its own parking garage and over twice as much retail space. Don't be surprised to hear an official announcement in the near future.
· Midtown Mid-Rise Bringing Woodward Retail and Office Space [Curbed]
· Four projects receiving up to $19M in tax incentives [Crains]