Hines And GM Partner To Develop Condominiums On The Detroit River
DETROIT – Hines, the international real estate firm, has formed a partnership with General Motors to develop six acres fronting on the Detroit River directly east of GM’s global headquarters at the Renaissance Center. The mixed-use development in downtown Detroit ’s best riverfront location will be largely residential, designed to take advantage of premier waterfront property which offers spectacular views along with the many amenities offered in the GM Renaissance Center.
Hines will be responsible for the financing and construction of the condominium development on GM’s surplus property. By contributing the property for the project, GM will receive a portion of future revenues from residential sales. Additional development partners are likely to be included in the project. Built Form, a design architect, and The Kramer Group, interior design consultants have been contracted for the project.
The first building planned for the development is a luxury residential tower to be located on a one-acre site east of the GM Renaissance Center between Beaubien, St. Antoine and Atwater streets.
The Hines-GM developments will anchor the Detroit RiverWalk, a five-mile lineal park along the river which will ultimately span from the Ambassador Bridge to beyond the MacArthur Bridge at Belle Isle into Gabriel Richard Park. The RiverWalk offers beautiful, natural landscaping, and a place to walk, jog, or bike while enjoying the view.
The GM Renaissance Center will provide a variety of amenities for this upscale project, including retail, restaurants, a fitness center, banking, valet parking, a post office and a movie theater. Condominium residents will enjoy 24-hour security in the immediate area.
A date for announcing specific development plans and construction schedules has not yet been determined.
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