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Blighted Detroit Hotel Gets Makeover

DETROIT-Currently a vacant building, the old holtel is being transformed into 60 one- and two-bedroom loft-style condominiums and street-level commercial space accessible from Park Avenue. Prices of the 860-sf to 1,200-sf condos will range from $140,000 to $195,000.

By Dan Heaton | Updated on July 19, 2005

DETROIT-An historic Midtown-Detroit hotel will be getting new life when the Eddystone Hotel, just north of Interstate 75, is restored and redeveloped into new residential and retail space.

The developer, Eddystone Development LLC, will invest $6.4 million to transform the vacant building into 60 one- and two-bedroom loft-style condominiums and street-level commercial space accessible from Park Avenue. Prices of the 860-sf to 1,200-sf condos will range from $140,000 to $195,000.

“The Eddystone project will link the development occurring in Midtown with that in other parts of the city,” says Lisa Villemonte, principal at Redevelopment and Restoration Consultants LLC, which is working on the project. “Rehabilitation in blighted areas is particularly challenging and very costly. This project wouldn’t have been possible without the assistance from the MEDC.”

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