Mayor Duggan, developers celebrate opening of Midtown's Woodward West, featuring affordable housing, new retailers
- Woodward West feat0ures 204 apartments and 25,000 square feet of retail space.
- 75% of units already leased; affordable units are 95% leased.
- Two new retail tenants announced.
- N’Namdi-curated works by Detroit artists on permanent display throughout the building.
Woodward West’s 204 residential units are 75% leased less than three months after opening its doors. Of the 20% of apartments offered below market rate as affordable housing for those with qualifying incomes at 80% of the area median income (AMI), 95% are leased.
Retail interest is equally strong with approximately 7,000 square feet leased to The Eagle Food & Beer Hall, a Southern-style fried chicken and craft beer restaurant, and Sugaring NYC, an organic waxing and lash studio. Both are expected to open in the spring of next year. Another 2,700 square feet of retail space is expected to be announced soon.
"As our city redevelops, we have two key priorities," Mayor Duggan said. "The first is that affordable housing options should be included in new residential developments, so Detroiters know they can afford to live in any neighborhood of their choice. The other is that Detroiters should be a major part of who is doing the rebuilding, and Woodward West is an excellent example of both."
Woodward West is a joint venture between Detroit-based developers Queen Lillian and The Platform. The building was designed by Hamilton Anderson Associates, Sachse Construction served as the contractor, Beanstalk Real Estate Services leases and manages the residential, and O’Connor Real Estate leases retail.
“We believe that as Detroit continues its revitalization Detroit-based businesses should be leading that charge,” said Chris Jackson, co-principal and managing partner of Queen Lillian. “We are proud to have assembled a Detroit-based project team who delivered an exceptional building that is exceeding expectations.”
One of the truly unique features of Woodward West is the extensive art collection on display throughout the building. “Art at Woodward West,” a collection of 41 works by artists of color with roots in Detroit has been curated by Izegbe D. N'Namdi, executive director of The N’Namdi Center for Contemporary Art in Midtown.
“We wanted to ensure the Woodward West experience was firmly rooted in Detroit, showcasing established and emerging artists with connections to the city,” N’Namdi said. “By adding an expansive art collection throughout the building, we are instilling an appreciation for the city, and promoting the wonderful artists this city continues to produce.”
Woodward West offers best-in-class amenities, including an outdoor recreational roof deck with expansive views of the Detroit skyline, fire table and grills. Residents at Woodward West also enjoy a lounge with TV, pool table and kitchenette; a high-end theater with surround sound; a fitness center with saunas, offices for working on site but not from home, and pet-friendly amenities.
“This has been one of the most successful developments I have seen in my 44 years in real estate in Detroit and nationally,” said Peter Cummings, executive chairman and CEO of The Platform. “It’s a real testament to the team that overdelivered on every aspect of the project from groundbreaking to resident leasing, and to the growing vibrancy of Midtown and demand for multi-family housing in this neighborhood.”
The development would not have been possible without the support of the Michigan Economic Development Corp., which recently approved a Michigan Community Revitalization Program loan of $5.3 million, and the Economic Development Corp. of the City of Detroit (EDC) through the Detroit Economic Growth Corp., which has approved a loan for $2.2 million. The Detroit City Council and Mayor Mike Duggan’s team also showed incredible support. Rounding out the capital stack is CIBC Bank, the senior lender. In the project’s early predevelopment stages, Capital Impact Partners and Invest Detroit also provided loans to move the project forward.
“Woodward West is bringing affordable housing and new vibrancy to Midtown and serves as a promising sign of the continuing redevelopment of Detroit neighborhoods,” said MEDC Executive Vice President of Economic Development Incentives Michele Wildman. “At MEDC, we are committed to supporting transformative projects that help create vibrant, resilient communities as part of our efforts to create a holistic, people-first approach to economic development in Michigan. We’re pleased to work with our partners to support this project, and look forward to seeing the additional investment it will encourage in other Detroit neighborhoods.”
For more information about Woodward West, visit www.woodwardwest.city.
To download photos and video of Woodward West, click here.
Original source can be found here.
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