Crain's is reporting that a vacant lot on East Jefferson Avenue sold to developers by the Detroit Police and Fire Retirement System for $2.3 million will be transformed into 180 luxury riverfront condos. Shamrock Acquisitions LLC of Shelby Township bought the 2.75 acre parcel and told Crain's that amenities of the new property will include a pool, underground parking, and up to 40 boat slips. Shamrock, a firm with a 20-year history in development and building, acquired a majority equity position in Biltmore Development in 2014, and their website declares them "excited to take advantage of land development opportunities post-recession." Current Shamrock development projects include Covington Estates on 8 Mile Rd in Novi and the North Town Project in Northfield near Ann Arbor.
·180 luxury condos with 40 boat slips planned for vacant east Detroit riverfront land [Crain's Detroit Business]
·Land Development [Shamrock Acquisitions]