The city has recently approved plans for the mixed-use development, which is expected to start construction in the spring. The city has also OK'ed a plan by developer Hakim Fakhoury of Dearborn to build "Gateway Plaza," a mixed-use development with eight storefronts at ground level and eight 1,500-sf lofts along Michigan Avenue in the city.
Fakhoury says 52 applicants already have applied for the lofts that will rent for $1,500 and $1,600 a month. "Economics is a factor, obviously," Fakhoury says. "My biggest concern was the anchors." All of the storefronts along the Michigan side of Gateway Plaza have already been leased.
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