The Detroit Economic Growth Corp., has chosen Banyan Investments, LLC for the re-development of the vacant Stone Soap building, along the east riverfront. The $27M project will feature 33 apartments, 30 condos, a “European-style” market with food retailers and seating, plus a new home for the Shakespeare in Detroit nonprofit.
Construction is expected to begin in the spring and take about two years to complete.
The existing 3 structures on the property to be renovated were built between 1907 and 1929; a new addition to those structures is expected as well.
Banyan is currently redeveloping the former St. Charles School into the St. Charles Residences, in Islandview.
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