According to Nolan Finley at the Detroit News, developer Peter Cummings will announce plans to form a new development group called The Platform. This group plans to invest $250 million in building residential in Tech Town, Midtown, and New Center, close to the M-1 Rail.
Cummings is the developer who brought Whole Foods to Detroit, and also bought the Fisher and Kahn buildings from auction last year and is building a mixed-use development called Third & Grand, which should break ground later this year.
The Platform plans to add 1,000 apartments to New Center, within walking distance from the M-1 rail. Also, "Cummings plans a mixture of rehabs and new construction. There will also be roughly 150,000 square feet of commercial space." The plan is to start with five buildings, including the Fisher and Kahn buildings.
Not to leave out the rest of the city, The Platform will also invest in three other neighborhoods to encourage growth: Brightmoor, the area around the University of Detroit-Mercy, and Islandview.
We'll update as we learn more.
- Developer to build 1,000 apartments near QLine [Detroit News]
- Third & Grand Rendering Released; 231 Units Ready in 2018 [Curbed Detroit]