Another Loft Conversion Rethink

Back in the spring of 2007 developers announced plans to convert the Detroit Elevator Building in Rivertown into 23 condo units. The project was to be completed in the summer of 2008. Needless to say, with the housing market collapse, that never happened.

This summer plans for the building were revised and construction has begun on what will now be a small business incubator. The building will contain 24 units plus common areas including a kitchen and showering facilities.

Facade construction and interior demolition on the Elevator Building will be completed this fall and units should be ready by spring 2010.

Detroit Elevator Company Building To Be Converted Into Lofts

RDR Real Estate has purchased the Detroit Elevator Company Building on Franklin St. in Rivertown. They plan to convert the 25,000 square ft. building into 23 condo units averaging 1,000 in size to sell for a price of about $235 per sq. ft.. This continues the trend to convert Rivertown into a mixed use district with an emphasis on residetial units with several other condo projects having been previously announced.

Renovation is slated to begin this summer with the goal of a summer 2008 move in date.

A website has been recently launched for this project elevatorbuilding.com.