The Milford DDA and DevMar Development LLC have reached an agreement on a $11M mixed use building, to be located at the northwest corner of Main Street & West Commerce Street, in Downtown Milford. The project, tentatively being called 505 Main, will feature retail on the main floor, and residential on the upper floors, along with an attached 2-level parking deck.
Our guess is 10,000 sqft to 12,000 sqft of retail will fill the main floor, and the parking structure will consist of slightly more than 100 parking spaces; thanks to a natural decline in the elevation behind the property, the parking deck will be largely hidden/out of view from the street.
Details are still limited regarding the residential component, but the current plans call for 16 “owner occupied” units, ranging in size from 1,200 to 1,600 sqft. Construction could begin as early as June.
You can read more about the project here, in The Oakland Press.
Lou Bitove & Jeff Bortnick, owners of The New Home Experts®, have more than 30 years combined experience in real estate, much of that with builders like Pulte & Toll Brothers. They also provide market research for area builders, developers and national firms. If you’re considering a new home, remember: the builders rep represents the builder, not you. Work with the only local agents in Metro Detroit to specialize in new homes, and save money in the process – ask us how!
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