The Platform has made a big impression on the development scene in Detroit in the past few years. This is especially apparent in New Center, where it has multiple projects—including restoration, new construction, and renovations—underway. Now they’re going to test out selling one of their major historic properties—the Albert Kahn Building on Second Avenue.
Crain’s reports that the 1931 Art Deco office building is now fielding offers, and the price is unlisted. It’s owned by The Platform, HFZ Capital Partners, and Rheal Capital Management. It was purchased in a 2015 auction deal for $12.2 million.
Last fall, The Platform announced plans to convert the 290,000-square-foot building into retail, office, and residential, with the addition of 162 rental apartments. We were also hoping to hear of a major retailer setting up shop in the building (no details yet).
The Platform also owns the Fisher Building, right across the street. Further down West Grand Boulevard, construction on the group’s Third & Grand is underway.