$20 million redevelopment part of changes coming to Milwaukee Junction
At lot has been happening in Milwaukee Junction of late. The Platform has begun construction and redevelopment of several buildings in the neighborhood, Town Partners has acquired 10 properties since 2014, and a mini-commercial district has started to form that includes the cocktail bar Kiesling, which opened last year.
Now another real estate firm, Method Development, made a major commitment in the area after announcing last week that it would purchase five properties, all in the same city block.
Method estimates that redevelopment of the buildings, totaling over 100,000 square feet of space, will cost $20 million. Crain’s Detroit Business reports that the properties were purchased for $4.5 million.
At four stories and 56,000 square feet, the light-industrial Rusas Printing Building on St. Antoine is the largest of the five purchases. The other four, including the three-story, 24,700-square-foot Maurice Fox Building, are on East Grand Boulevard.
Source: Crain’s Detroit