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Landmark Midtown Building Going Condo

DETROIT-Plans have been detailed for the Park Shelton conversion from multifamily rental units to 220 condominiums priced from under $100,000 to $300,000. Three metro area developers team up on the $15-million project.

By Dan Heaton | Updated on August 24, 2004

DETROIT-A partnership of three metro area developers are planning to transform the Park Shelton apartments in Midtown into condominiums. The project, which will feature 220 units and a new four-story parking garage, carries a $15-million price tag.

“For nearly a century, the Park Shelton has stood as a distinguished landmark in Detroit’s cultural center, first as the Wardell Hotel and then as one of our city’s most desirable rental residences,” says Parlay Development, LLC president Walter Cohen. “My partners and I are extremely pleased to offer a fully renovated and restored Park Shelton to a new generation of metro Detroiters eager to experience urban living.”

The Park Shelton’s 12 residential floors will feature a variety of floor plans, Cohen says. The first floor will be used for an assortment of retail users. Condominiums will range from under $100,000 for a studio to between $240,000 to $300,000 for a two-bedroom, two-bath unit. Additionally, the Park Shelton has applied for designation as a Neighborhood Enterprise Zone, which, if approved, would provide buyers with annual property tax breaks for up to 12 years.

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