Detroit – Almost 100 years after welcoming residents to booming Detroit for the first time in the early 20th century, historic Eddystone will open to tenants this fall.
The Ilitch Family Olympia Development took a tour on Tuesday of its $ 35 million project to restore the 13-story structure at 2701 Park Ave., originally known as the Eddystone Hotel.
The 1924 Italian Renaissance-style building designed by Louis Kemper overlooks the Little Caesars Arena in the Ilitch family’s Detroit district.
“It’s really about mixing the modern with history or history meets modern luxury,” said Stefan Stratation, vice president of development for Olympia Development. “These are all the themes that we think tell this story of the building’s history well, honoring that, telling that in a modern way.”
The building will have 92 residential units consisting of studios, one-bedroom and two-bedroom units. Of those, 20% will be reserved for affordable housing, officials said.
Retail is slated for the ground floor and will be announced in the coming weeks.
The pre-rental started with Olympia Development employees and will open to the public in September, officials said. The first tenants could move in as early as November.
The tour comes a day after Olympia Development announced that it had selected Four Man Ladder Management to operate a new catering concept on the ground floor of the building. The team operates the Gray Ghost Restaurant and the Second Best Bar in Detroit.
The Eddystone Hotel has been vacant since the 1990s, according to historical accounts and was in poor condition. It was once a destination for people looking for opportunities in Detroit, Stration said, adding that he expects this from the building’s new tenants.
“It was for the many people who came to the city in the 1920s, when you had that time of opportunity and energy in the city,” he said. “And we like it because that’s where Detroit is also. We are able to capture this energy and limitless possibilities. What you’ll see is this community theme. People are meeting for the first time wherever they are, if they are moving from the suburbs, if they are in Detroit, if they are moving from out of state, wherever they are. They come here to find other people to meet, network and collaborate with. This sense of community.
The Ilitch organization signed an agreement with the city of Detroit in 2019 that guaranteed the building would be redeveloped. That year, the teams began cleaning up what was an empty shell.
According to the city, the developer has until December 23 to obtain a temporary occupancy certificate from the Department of Buildings, Safety Engineering and the Environment. Olympia Development officials say they will meet their deadline.
Because the Eddystone is listed on the National Register of Historic Places, Leo Mendez, vice president of design for Olympia Development, said the company has worked with the State Historic Preservation Office and the National Park Service to preserve and reproduce the features. of the building. The contractor for the project is the Trojan company O’Brien Construction.
Restoration work includes extensive cleaning and restoration of limestone on the building’s first two floors, Mendez said. There was also a lot of brick replacement and replication of the terracotta around the windows and cornice, he said.
“It’s wonderful to see this come to pass,” he said.
The building’s lobby will feature mahogany paneled ceilings and walls. The paneling in the hallways of the upper floors has also been reproduced.
The apartments are larger than hotel rooms in the past, now ranging from a 395-square-foot studio to a 1,016-square-foot two-bedroom apartment. Rents will range from $ 1,086 to $ 2,560 per month. Each unit has a washer and dryer in the unit, quartz countertops and open concept living and dining areas.
The property will offer concierge service and smart home technology in conjunction with Comcast. Residents will be able to use an app to control lights, thermostat and doors when away from their apartment, officials said.
The Eddystone sits adjacent to the Ilitches’ $ 70 million development at 2715 Woodward Ave. which opened this year. Its tenants are the Boston Consulting Group, an international business strategy consultancy, and the law firm Warner Norcross + Judd.