Residential home builder Infinity Homes & Co. purchased The Park Avenue Building in Downtown Detroit, making Infinity the second suburban builder in recent years to take part in the current construction boom in Detroit; Hunter Pasteur Homes has been active in the Brush Park area.
Infinity Homes & Co. CEO Rino Soave announced the deal late last month, with plans to invest $7M to $10M for redevelopment of the building located on the northeast corner of Park & Adams. Current plans include 75-100 apartments, and 4,000 to 5,000 sqft of retail space on the first floor; the total size of the building is roughly 102,000 sqft.
Built in 1922 and designed by Albert Kahn, the 12-story Park Avenue Building had fallen into disrepair in recent years, and the property has been barricaded off from pedestrians due to falling bricks. Renovations should start later this year, you can read more via Crains Detroit Business here.
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