DETROIT—This city's CBD has undergone a stunning transformation in the past few years. Its streets now throb with activity around the clock, filled with office workers during the day, and new residents and sports fans during the evenings. But that revival has now begun to spread to the city's outlying neighborhoods.
Bagley Forest Properties, LLC plans to renovate the former B. Siegel department store located at the intersection of Livernois Ave. and 7 Mile Rd. on the city's north side near Palmer Woods. The now-vacant store, and its location along the “Avenue of Fashion,” was a shopping destination for generations of Detroiters. And even though such department stores, small by today's standards, have gone out of style, the neighborhood has seen a resurgence of interest from renters who prefer city addresses. And retailers seem willing to follow.
“We already have five interested parties that have submitted serious proposals,” Arthur Itkis, a vice president with JLL, tells GlobeSt.com. Along with associate Aaron Moore, he was brought on as the exclusive leasing agent.
Bagley has received funding from the Michigan Economic Development Corp. It plans to demolish portions of the property, renovate others, creating 20,500 square feet of commercial space, along with 10 new multifamily units to attract young professionals from local schools such as Marygrove College and University of Detroit-Mercy. The company will start construction within the next 45 days and finish by early 2019. “Basically, we're going to get a brand-new building,” Itkis says.
A number of retailers have already returned to the storefronts around the intersection. But Itkis says the B. Siegel renovation is the signal that even bigger change is coming to areas far from the burgeoning CBD.
“For this neighborhood, this is going to be the catalyst.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
