The Platform plans Eastern Market development; snags major investment

Development group The Platform, who owns the Fisher Building and has major development projects underway or planned in New Center, Milwaukee Junction, Old Redford, and Islandview, are adding another neighborhood to their list. Crain’s reports the group is under contract for land near the Dequindre Cut, bordered by Gratiot, East Vernor, and St. Aubin just across from Eastern Market.

According to Crain’s, “[Peter] Cummings said a redevelopment is planned to include retail along the Gratiot frontage and multifamily residential units along the Dequindre Cut frontage. However, specifics about the development plan have not yet been determined.”

The location is right across from the main section of Eastern Market, and in between a thriving retail corridor closer to downtown and more renovations moving down Gratiot.

As part of the Detroit Homecoming week, The Platform was part of another major announcement. The Ford Foundation and developer Stephen M. Ross have contributed a total of $17.5 million ($10 million from Ford, $7.5 from Ross) to The Platform to go toward affordable and market-rate housing in their Detroit neighborhood development initiative.

The Platform’s many projects include new construction at Third and Grand, the mixed-use Baltimore Station on Woodward, redevelopment at Cass and York, and rehab and development plans across from Belle Isle.