Today, the Detroit City Council approved brownfield credits for the Ashton, a $58 million brand new 14-story luxury condo development complex located on the west end of downtown Detroit. The Ashton will be the first free-standing high rise complex built in Detroit in more than 20 years.
To be built on a parking lot adjacent to WDIV TV-4, the 103-unit new construction project will be developed by 600 Ventures Development Group a partnership of Eric Means and Brian Holdwick.
“I am grateful to the Council for their decision,” said Means, CEO of Means Group, a Detroit-based development, construction and facility management firm. “This is a huge win for the city. To set the stage for continued growth the city needs home ownership and this project brings a high-quality residential product that people want to own.”
“Based on cost-to-build, projects of this nature have not previously been cost-effective,” Means continued.
Brownfield credits are used to help incentivize developers to invest in dilapidated buildings, and areas that have remained vacant for a while. They are allocated to projects that require costly land remediation, infrastructure improvements, and demolition.
The state-of-the-art building will include high-end finishes, a pool, a fitness center, ground-floor retail space and a parking structure. Floor to ceiling windows will allow for views of the Detroit River and the city skyline. Units range from 700 to 2,500 sq. ft.
In addition to the Ashton Condo Complex, the Means Group recently broke ground on the historic Metropolitan Building which it is developing into an extended-stay hotel concept. A few of the firm’s other projects include downtown’s newest Flagstar Bank, the Great Lakes Coffee Company and the four-phased Woodard Garden Block, inclusive of a 300-car enclosed parking structure, a commercial development, the restoration of the historic 32,000 sq. ft. Garden Theater and a five-story apartment complex.
The project, which will be completed in mid-2019, is now accepting reservations. For more information, visit www.ashtondetroit.com.