&d - final (spring - 2016)
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GRANDCIRCUS PARK
CENTRALBUSINESS DISTRICT
CORKTOWN
LAFAYETTE PARK SPRING 2016 DOWNTOWN DETROIT APARTMENT RENTALS
375
7
75
7
10
1
3
12
RIVER AVENUE
PINE
C
KALINE
MICHIGAN AVE.
MICHIGAN AVE.
PLUMPLUM
CHERRY
ELIZABETH
CHERRY
CHURCH
LEVERETTE
BAGLEY
LABROSSE
PORTER
ABBOTT
HOWARD
FORT
TENT
H
JEFFERSON
ABBOTT
TENT
H
ROSA
PARK
S BLV
D.
TRUM
BULL
SIXT
HSI
XTH
FIFTH
THIR
D
SECO
ND
FIRST
CASS
SHEL
BY
GRIS
WOL
DW
OOW
ARD
AVE.
JEFFERSONLARNED
LARNED
CIVIC CENTER DR.
ELIZABETH
BEECH
PLAZA
BAGLEY
CLIFFORD
GRAND RIVER
PARK
PLAC
E WASHI
NGTO
N BLV
D
LIBRARYFARMER
CONGRESS
CONGRESS
MONROE
LAFAYETTE
LAFAYETTE
MACOMB
CLINTON
MULLET
ELIZABETHADAMS
BEACON
MADISON
FORT
ST.A
NTOI
NE
BEAU
BEIN
BRUS
H
MONTCALM
COLUMBIA
WITH
EREL
L
JO
LAFAYETTE
HOWARD
FIRST
SECO
ND
FOUR
TH
CADILLAC SQ.
EIGHT
H
GRATIOT AVE.
BROO
KLYN
BROO
KLYN
BROO
KLYN
BR
SECO
ND
THIR
D
HENRY
BRUS
H
WOODBRIDGE
ATWATER
ATWATERATWATER
ST. A
UBIN
ORLE
ANS
RIVA
RD
CHRY
SLER
DR.
PEMBRIDGE ONE LAFAYETTE PL.
JAY
WATERLOO
ST. AUBIN
CHATEAUFORT
CHERBONEAU
NICOLET PL
DUCHARME PL.
STAF
FORD
LARNED
WOODBRIDGE
FRANKLINFRANKLIN
ST. A
UBIN
PLAC
E
ANTIETAM
NAVARRE PL.
RIOP
ELLE
AUBIN
MAPLE
RAND
OLPH
JEFFERSON
ORLE
ANS
PARK
WINDER
WASH
INGT
ON B
LVD.W. LAFAYETTE
JOLIET PL.
ANTIETAM AVE.
ANTIETAM AVE.
Detroit-WindsorTunnel
B
Detroit River
R
FordField
ComericaPark
E
Grand CircusPark
LafayettePlaisance
LafayetteCentral Park
CampusMartius
OldTiger
Stadium
GRAND CIRCUSPARK
CORKTOWN
LAFAYETTEPARK
CENTRALBUSINESSDISTRICT
DEFINING “DOWNTOWN” DETROIT
For the purposes of this study, we have defined “downtown” by the followingboundaries: I75 to the North, St. Aubin to the East (to include Lafayette Park),River to the South, and Rosa Parks (12th St) to the West (to include Corktown).
TABLE OF CONTENTS
Downtown Detroit Rentals. . . . . . . . . . 3
Rental Property Detail:
• Grand Circus Park . . . . . . . . . . . 4-10
• Central Business District . . . . 11-30
• Corktown. . . . . . . . . . . . . . . . . . . 31-36
• Lafayette Park . . . . . . . . . . . . . . 37-46
Average Rental Rates(Downtown) . . . . . . . . . . . . . . . . . . . . . 46
Market Trends(Downtown) . . . . . . . . . . . . . . . . . . . . . 47
Average Rental Rates(Submarkets) . . . . . . . . . . . . . . . . . . . . 48
Sample Market Rates . . . . . . . . . . . . . . 51
Average Occupancy . . . . . . . . . . . . . . 52
New Downtown Developments . . . 53
PREPARED BY:
SCOTT RYANMarketing Director - Multifamily
P. 248.554.6822sryan@brodersachse.com
3
375
7
75
7
75
10
1
3
12
R AVENUE
KALINE
MICHIGAN AVE.
MICHIGAN AVE.
PLUMPLUM
CHERRY
ELIZABETH
CHERRY
CHURCH
LEVERETTE
BAGLEY
LABROSSE
PORTER
ABBOTT
HOWARD
FORT
TENT
H
JEFFERSON
ABBOTT
TENT
H
ROSA
PARK
S BLV
D.
VERM
ONT S
T.
FORT
IETH
FO
RTIE
TH
TRUM
BULL
SIXT
HSI
XTH
FIFTH
THIR
D
SECO
ND
FIRST
CASS
SHEL
BY
GRIS
WOL
DW
OO
JEFFERSONLARNED
LARNED
ELIZABETH
BEECH
PLAZA
BAGLEY
CLIFFORD
GRAND RIVER
WASHI
NGTO
N BLV
D
LIBRARYFARMER
CONGRESS
CONGRESS
MONROE
LAFAYETTE
LAFAYETTE
MACOMB
CLINTON
MULLET
ELIZABETHADAMS
BEACON
MADISON
FORT
ST.A
NTOI
NE
BEAU
BEIN
BRUS
H
MONTCALM
COLUMBIA
WITH
EREL
L
LAFAYETTE
HOWARD
FIRST
SECO
ND
FOUR
TH
CADILLAC SQ.
EIGHT
H
GRATIOT AVE.
BROO
KLYN
BROO
KLYN
BROO
KLYN
SECO
NDHENRY
BRUS
H
WOODBRIDGE
ATWATER ATWATER
ST. A
UBIN
ORLE
ANS
RIVA
RD
CHRY
SLER
DR.
PEMBRIDGE ONE LAFAYETTE PL.
JAY
W
ST. AUBIN
CHATEAUFORT
CHERBONEAU
NICOLET PL
DUCHARME PL.
STAF
FORD
LARNED
WOODBRIDGE
FRANKLINFRANKLIN
ST. A
UBIN
PLAC
E
ANTIETAM
NAVARRE PL.
RIOP
ELLE
AUBIN
MAPLE
RAND
OLPH
JEFFERSON
S
PARK
WASH
INGT
ON B
LVD.W. LAFAYETTE
DALZETTE ST.
JOLIET PL.
ANTIETAM AVE.
ANTIETAM AVE.
FordField
ComericaPark
E
Grand CircusPark
LafayettePlaisance
LafayetteCentral Park
CampusMartius
OldTiger
Stadium
GRAND CIRCUSPARK
CORKTOWN
LAFAYETTEPARK
CENTRALBUSINESSDISTRICT
BRODERICKTOWER THE ASHLEY
DAVID WHITNEYBUILDING
FYFEAPARTMENTS
THE KALESBUILDING
THE IODENTLOFTS
THE PAVILLION APTS.
CITY PLACEDETROIT
LAFAYETTETOWERS
THE PALMS EASTAPARTMENTS
CARLTONAPARTMENTS
PALMSAPARTMENTS
JEAN RIVARDAPARTMENTS
CENTRAL PARKAPARTMENTS
DETROITCITY APTS.
FORT SHELBYTOWER APARTMENTS
THE LOFTS ATMERCHANTS ROW
MALCOMSONBUILDING
THE ALBERT
CLARIDGE HOUSEAPARTMENTS
LIBRARYLOFTS
NEW CADILLACSQUARE APTS.
GREEKTOWNLOFTS
RENAISSANCE CITYAPARTMENTS
BROADWAYLOFTS
HARMONIEPARK LOFTS
EUREKA LOFTS
LOFTS ATWOODWARD
CENTER
BOOK CADILLAC
RESIDENCES
SECURITYTRUST LOFTS
TOWNAPARTMENTS
LAFAYETTELOFTS
RIVERFRONTTOWERS
BROOKLYN PARKLOFTS
COAT FACTORYLOFTS
DOWNTOWN DETROIT RENTALSBRODERICK TOWER 10 Witherell . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124 unitsTHE FYFE APARTMENTS 10 West Adams. . . . . . . . . . . . . . . . . . . . . . . . 65 unitsTHE KALES BUILDING 76 West Adams . . . . . . . . . . . . . . . . . . . . . . . . . 117 unitsTHE IODENT LOFTS 2233 Park Avenue . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 unitsDAVID WHITNEY BUILDING 1 Park Avenue . . . . . . . . . . . . . . . . . . . 105 unitsTHE ALBERT 1214 Griswold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 unitsDETROIT SAVINGS BANK 1212 Griswold . . . . . . . . . . . . . . . . . . . . . . . 56 unitsMALCOMSON BUILDING 1215 Griswold. . . . . . . . . . . . . . . . . . . . . . . 25 unitsDETROIT CITY APARTMENTS 1431 Washington . . . . . . . . . . . . . . . 351 unitsCLARIDGE HOUSE APARTMENTS 1514 Washington . . . . . . . . . . 44 unitsTOWN APARTMENTS 1511 First Street . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . THE LOFTS AT MERCHANTS ROW 1247 Woodward. . . . . . . . . . 199 unitsLOFTS AT WOODWARD CENTER 1448 Woodward . . . . . . . . . . . . 61 unitsFORT SHELBY TOWER APARTMENTS 527 West Lafayette. . . . 57 unitsBOOK CADILLAC RESIDENCES 1114 Washington . . . . . . . . . . . . . . 15 unitsSECURITY TRUST LOFTS 735 Griswold . . . . . . . . . . . . . . . . . . . . . . . . 20 unitsLIBRARY LOFTS 1250 Library Street . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 unitsBROADWAY LOFTS 1323 Broadway . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 units
THE ASHLEY 1538 Centre Street . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 unitsGREEKTOWN LOFTS 743 Beaubien . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 unitsEUREKA LOFTS 1521 Broadway . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 unitsRENAISSANCE CITY APARTMENTS 555 Brush Street . . . . . . 339 unitsNEW CADILLAC SQUARE 111 Cadillac Square. . . . . . . . . . . . . . . . . . 221 unitsLAFAYETTE LOFTS 1302 West Lafayette. . . . . . . . . . . . . . . . . . . . . . . . . . 50 unitsCOAT FACTORY LOFTS 1652 Fort Street. . . . . . . . . . . . . . . . . . . . . . . . . 62 unitsBROOKLYN PARK LOFTS 2233 Brooklyn Street. . . . . . . . . . . . . . . . 63 unitsRIVERFRONT TOWERS 100 Riverfront . . . . . . . . . . . . . . . . . . . . . . . . . 555 unitsTHE PAVILLION APARTMENTSOne Lafayette Plaisance . . . . . 340 unitsLAFAYETTE TOWERS 1301 Orleans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 584 unitsCITY PLACE DETROIT 1600 Antietam . . . . . . . . . . . . . . . . . . . . . . . . . 320 unitsTHE PALMS EAST APARTMENTS 1531 East Larned . . . . . . . . . . . . 114 unitsCENTRAL PARK APARTMENTS 621 Orleans . . . . . . . . . . . . . . . . . . . 92 unitsCARLTON APARTMENTS 1387 East Larned . . . . . . . . . . . . . . . . . . . . 144 unitsJEAN RIVARD APARTMENTS 930 East Lafayette . . . . . . . . . . . . . . 146 unitsPALMS APARTMENTS 1001 East Jefferson . . . . . . . . . . . . . . . . . . . . . . . 62 units
*Subjects in the study include 4+ units. **Not including low income or senior housing.4,613 TOTAL UNITS
4
GrandCircus ParkGrand Circus Park connectsthe theatre district with the financialdistrict. It is bisected by WoodwardAvenue, four blocks north ofCampus Martius Park.The districtwas listed on the National Registerof Historic Places in 1983.
DOWN TOWN D E T R O I T A PA R TM EN T R E N TA L S
CENTRALBUSINESS DISTRICT CORKTOWN LAFAYETTE PARK
GRAND CIRCUS PARK
75
7
GRAND RIVER AVENUE
PLUM
C
THIR
D
ELIZABETH
BEECH
PLAZA
BAGLEY
CLIFFORD
GRAND RIVER
HING
TON B
LVD
CLINTO
MUL
ELIZABETHADAMS
BEACON
MADISON
OINE
N
MONTCALM
COLUMBIA
WITH
EREL
L
JOHN
R.
FIRST
SECO
ND
FOUR
TH
GRATIOT AVE.
SECO
ND
THIR
D
FOUR
TH
LEDYARD
HENRY
WINDERSPROAT
SIBLEY
RK
ADELAIDE
DIVISION
BRUS
H
PARK
FordField
ComericaPark
E
Grand CircusPark
L
BRODERICKTOWER
FYFEAPARTMENTS
THE KALESBUILDING
THE IODENTLOFTS
DAVID WHITNEYBUILDING
GRAND CIRCUS PARK RENTALS:
BRODERICK TOWER 10 Witherell 124 units
FYFE APARTMENTS 10 West Adams 65 units
THE KALES BUILDING 76 West Adams 117 units
THE IODENT LOFTS 2233 Park Avenue 11 units
DAVID WHITNEY BUILDING 1 Park Avenue 105 units
5
GRAND CIRCUS PARK
STUDIOS 38 461 $890 $1.93
1 BEDROOMS 238 725 $1,305 $1.80
2 BEDROOMS 127 1205 $2,372 $1.97
3 BEDROOMS 8 1888 $3,875 $2.05
OPEN LOFTS 11 1030 $1,988 $1.93
SUBMARKETAVERAGES 422 $1.89(WEIGHTED)
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
At $1.89 per square foot, Grand Circus Parkboasts the highest average rent in Detroit and reports
100% occupancy.
GRAND CIRCUS PARK RENTALS:
BRODERICK TOWER 10 Witherell 124 units
FYFE APARTMENTS 10 West Adams 65 units
THE KALES BUILDING 76 West Adams 117 units
THE IODENT LOFTS 2233 Park Avenue 11 units
DAVID WHITNEY BUILDING 1 Park Avenue 105 units
6
GRAND CIRCUS PARK
STUDIO 14 496 $1,005 $2.02
1 BEDROOM 42 786 $1,513 $1.92
2 BEDROOM 62 1584 $3,307 $2.09
3 BEDROOM 6 2050 $4,050 $1.98
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
BRODERICK TOWER10 Witherell, Detroit, Michigan
Units: 124
Unit Mix: Studio, One, Two, &Three Bedrooms
Year Built: 1928
Historic Building:Yes
Year Remodeled: 2012
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: 10-Foot Ceilings, Central A/C, Walk-in Closets, Combo
Washer/Dryer in Unit, Tile & Carpet Flooring.
KITCHENS: Granite Countertops with Cherry Cabinets. Microwave,Dishwasher, and Garbage Disposal are Included.
BATHROOMS: Tile Floors, Soaking Tub, Luxury Features.
PROPERTY AMENITIES:Concierge/Security, Parking in Adjacent Underground Garage with Valet,Fitness Center, Laundry Rooms, Extra Storage.
7
GRAND CIRCUS PARK
STUDIO 24 425 $775 $1.82
1 BEDROOM 36 739 $900 $1.22
2 BEDROOM 5 900 $1,250 $1.39
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
THE FYFE APARTMENTS10 West Adams, Detroit, Michigan
Units: 65
Unit Mix: Studio, One Bedrooms
Year Built: 1919
Historic Building:Yes
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Wall-to-wall Plush Pile Carpet (Hardwood Floors in
Two Units), Walk-in Closets, All Utilities Included in Rent.
KITCHENS: Renovated, Tile Floors, Black or White Refrigerators &Electric Stoves Provided. Dishwashers in Some Units.Laminate Countertops.
PROPERTY AMENITIES:Laundry Rooms, Extra Storage Available, Controlled Entry,Underground Gated Parking Nearby.
8
GRAND CIRCUS PARK
1 BEDROOM 67 702 $1,350 $1.92
2 BEDROOM 50 1079 $2,225 $2.06
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
THE KALES BUILDING76 West Adams, Detroit, Michigan
Units: 117
Unit Mix:One and TwoBedroom
Year Built: 1914
Historic Building:Yes
Year Remodeled: 2005
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Large Windows, Hardwood Floors, Stackable
or Combo Washer/Dryer in Unit.
KITCHENS: Granite Countertops, Stainless Steel Appliances(Some Units), Maple Cabinets, Dishwasher
BATHROOMS: Ceramic Tile, Tub/Shower
PROPERTY AMENITIES:Fitness Center, Connected Garage Parking, Business Center,Tanning Room, Secured Entry.
9
GRAND CIRCUS PARK
1 BEDROOM 93 671 $1,456 $2.17
2 BEDROOM 10 1259 $2,705 $2.15
3 BEDROOM 2 1726 $3,700 $2.14
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
INTERIOR FEATURES & FINISHES:Hardwood Floors, Stainless Steel Appliances, Granite Countertops, In-UnitLaundry, Parking Garage, Valet Available.
PROPERTY AMENITIES:$30/Month Hospitality Package Includes: Fitness Center, Wi-Fi in the Lobby,Free Coffee/Tea, Printer & Fax.
DAVID WHITNEYBUILDING1 Park Avenue, Detroit, Michigan
Units: 105
Unit Mix:One, Two, & Three Bedrooms
Year Built: 1915
Historic Building:Yes
Year Remodeled: 2014
Occupancy: 100%
10
GRAND CIRCUS PARK
OPEN LOFTS 11 1030 $1,988 $1.93
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
IODENT LOFTS2233 Park Avenue, Detroit, Michigan
Units: 11
Unit Mix:Open Lofts
Year Built: 1923
Historic Building:Yes
Year Remodeled: 2009
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Large Windows, Stained Concrete Floors,
Washer/Dryer in Unit, Central Air & Heat.
KITCHENS: Granite Countertops, Stainless Steel AppliancesMaple Cabinets, Drawer Dishwashers, Icemaker.
BATHROOMS: Marble Tile Throughout, Basin Vanities, Luxury Fixtures.
PROPERTY AMENITIES:Secured Entry with Video Intercom System, Secured Parking Available,Bar and Restaurant On-site.
11
CentralBusiness DistrictThe Central Business District ofDetroit contains many of the prominentskyscrapers in Detroit. The downtownarea features high-rise residential livingalong with a number of parks includingthose linked by a promenade along theInternational Riverfront
DOWN TOWN D E T R O I T A PA R TM EN T R E N TA L S
GRANDCIRCUS PARK CORKTOWN LAFAYETTE PARK
CENTRALBUSINESS DISTRICT
375
7
MICHIGAN AVE.
BBOTT
THIR
D
SECO
ND
FIRST
CASS
SHEL
BY
GRIS
WOL
DW
OOW
ARD
AVE.
JEFFERSONLARNED
LARNED
BAGLEY
CLIFFORD
ND RIVER
PARK
PLAC
E
WASHI
NGTO
N BLV
D
LIBRARYFARMER
CONGRESS
CONGRESS
MONROE
LAFAYETTE
MACOMB
CLINTON
MULLET
MADISON
FORT
ST.A
NTOI
NE
BEAU
BEIN
BRUS
H
LAFAYETTE
HOWARD
FIRST
SECO
NDOURT
CADILLAC SQ.
GRATIOT AVE.
CHRY
SLER
DR
WOOD
RAND
OLPH
WASH
INGT
ON B
LVD.
CampusMartius
O
DETROITCITY APTS.
FORT SHELBYTOWER APARTMENTS
CLARIDGE HOUSEAPARTMENTS
LIBRARYLOFTS
NEW CADILLACSQUARE APTS.
GREEKTOWNLOFTS
RENAISSANCE CITYAPARTMENTS
BROADWAYLOFTS
HARMONIEPARK LOFTS
EUREKA LOFTS
LOFTS ATWOODWARD
CENTER
BOOK CADILLACRESIDENCES
THE ALBERT
TOWNAPARTMENTS
THE ASHLEY
MALCOMSONBUILDING
THE LOFTS ATMERCHANTS ROW
CENTRAL BUSINESS DISTRICT RENTALS:THE ALBERT 1214 Griswold 127 unitsDETROIT SAVINGS BANK 1212 Griswold 56 unitsMALCOMSON BUILDING 1215 Griswold 25 unitsDETROIT CITY APTS 1431 Washington 351 unitsCLARIDGE HOUSE APTS 1514 Washington 44 unitsTOWN RESIDENCES 1511 First StreetTHE LOFTS AT MERCHANTS ROW 1247 Woodward 199 unitsLOFTS AT WOODWARD CENTER 1448 Woodward 61 unitsFORT SHELBY TOWER APTS 527 W Lafayette 57 unitsBOOK CADILLAC RESIDENCES 1114 Washington 15 unitsSECURITY TRUST LOFTS 735 Griswold 20 unitsLIBRARY LOFTS 1250 Library Street 6 unitsBROADWAY LOFTS 1323 Broadway 16 unitsTHE ASHLEY 1538 Centre Street 67 unitsGREEKTOWN LOFTS 743 Beaubien 51 unitsEUREKA LOFTS 1521 Broadway 4 unitsRENAISSANCE CITY APTS 555 Brush Street 339 unitsNEW CADILLAC SQUARE 111 Cadillac Square 221 units
12
CENTRALBUSINESS DISTRICT
STUDIOS 113 597 $1,037 $1.74
1 BEDROOMS 999 883 $1,533 $1.74
2 BEDROOMS 447 1265 $2,043 $1.62
3 BEDROOMS 23 1779 $2,976 $1.67
OPEN LOFTS 77 1391 $1,875 $1.35
SUBMARKETAVERAGES 1659* $1.67*
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
The Central Business District contains 36% (1659) ofDowntown Detroit’s 4613 apartments
CENTRAL BUSINESS DISTRICT RENTALS:THE ALBERT 1214 Griswold 127 unitsDETROIT SAVINGS BANK 1212 Griswold 56 unitsMALCOMSON BUILDING 1215 Griswold 25 unitsDETROIT CITY APTS 1431 Washington 351 unitsCLARIDGE HOUSE APTS 1514 Washington 44 unitsTOWN RESIDENCES 1511 First StreetTHE LOFTS AT MERCHANTS ROW 1247 Woodward 199 unitsLOFTS AT WOODWARD CENTER 1448 Woodward 61 unitsFORT SHELBY TOWER APTS 527 W Lafayette 57 unitsBOOK CADILLAC RESIDENCES 1114 Washington 15 unitsSECURITY TRUST LOFTS 735 Griswold 20 unitsLIBRARY LOFTS 1250 Library Street 6 unitsBROADWAY LOFTS 1323 Broadway 16 unitsTHE ASHLEY 1538 Centre Street 67 unitsGREEKTOWN LOFTS 743 Beaubien 51 unitsEUREKA LOFTS 1521 Broadway 4 unitsRENAISSANCE CITY APTS 555 Brush Street 339 unitsNEW CADILLAC SQUARE 111 Cadillac Square 221 units
*Excludes The Town Apartments as they are under new ownership and renovation.
13
1 BEDROOM 204 688 $942 $1.37
2 BEDROOM 147 1114 $1,466 $1.32
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
INTERIOR FEATURES & FINISHES:GENERAL: Chevron-patterned Wood Floors, White Solar Roller
Shade Window Treatments, Wire Shelving in Closets, Designer Lighting.
KITCHENS: Classic White Wood Cabinets, Exposed Wood Shelving,Custom Roll-away Kitchen Island, Stainless SteelAppliances Including Dishwasher and Microwave,Quartz Countertops, Under-mount Stainless SteelKitchen Sink, Chrome Delta Faucet with Pull-out Spray.
BATHROOMS: Classic Subway Tile Surround, Porcelain Tile Bathroom Flooring, Glass Shower Enclosure.
PROPERTY AMENITIES:24-Hour Concierge, 3rd Floor Social Space, Outdoor Balcony OverlookingCapitol Park, Bike Storage, Laundry Facility, Community Kitchen, DryCleaning Delivery, High Speed Internet and WiFi, Fitness Center, PetGrooming Center, Individual Storage Areas, Rock Security.
CENTRALBUSINESS DISTRICT
13
1 BEDROOM 124 623 $1,490 $2.39
2 BEDROOM 3 1296 $2,530 $1.96
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
CENTRALBUSINESS DISTRICT
THE ALBERT-CAPITOL PARK1214 Griswold, Detroit, Michigan
Units: 127
Unit Mix:One & TwoBedrooms
Year Built: 1929
Year Renovated: 2014
Historic Building:Yes
Occupancy: 100%
14
CENTRALBUSINESS DISTRICT
14
CENTRALBUSINESS DISTRICT
DETROIT SAVINGS BANK1212 Griswold, Detroit, Michigan
Units: 56
Unit Mix: Studio, One, Two &Three Bedrooms
Year Built: 1895
Historic Building:Yes
Year Remodeled: 2015
Occupancy: 93%
STUDIO 19 694 $1,165 $1.96
1 BEDROOM 26 875 $1,590 $1.82
2 BEDROOM 9 1455 $2,500 $1.72
3 BEDROOM 2 1566 $3,300 $2.11
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
INTERIOR FEATURES & FINISHES:GENERAL: Carpet,, Washer/Dryer, 10ft+ Ceilings, Central A/C
KITCHENS: Granite Countertops, Cherry Cabinets, Microwave,Dishwaser, Garbage Disposal
BATHROOMS: Original Tile Floors and Tubs, Upgraded Fixtures.
PROPERTY AMENITIES:Concierge, 24-Hour Security, Secured Entry
15
v
1 BEDROOM 15 597 $1,050 $1.76
2 BEDROOM 5 875 $1,795 $2.05
3 BEDROOM 5 950 $1,905 $2.01
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
INTERIOR FEATURES & FINISHES:GENERAL: Key Fob Access, Stacked Washer/Dryer, Ceiling Fan in
Bedrooms, Wood-Grain Plank Flooring, IndividualTemperature Controls.
KITCHENS: Custom Kitchen Island and Breakfast Bar, Espresso-Finish Cabinets, Quartz Countertops with TileBacksplashes, Stainless-Steel Appliances.
BATHROOMS: Euro-Style, Glass Shower Doors.
PROPERTY AMENITIES:Off-Site Parking, Bike Storage, Pet-Friendly, Storage Lockers.
CENTRALBUSINESS DISTRICT
MALCOMSON BUILDING1215 Griswold, Detroit, Michigan
Units: 25
Unit Mix:One, Two & Three Bedrooms
Year Built: 1910
Historic Building:Yes
Year Remodeled: 2015
Occupancy: 100%
16
1 BEDROOM 204 651 $1,160 $1.78
2 BEDROOM 147 1150 $1,630 $1.65
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
DETROIT CITYAPARTMENTS1431 Washington Boulavard, Detroit, Michigan
Units: 351
Unit Mix:One & TwoBedrooms
Year Built: 1981
Historic Building:No
Year Remodeled: 2011
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Three Interior Finish Packages, Vinyl Wood Flooring
in Foyer, Dining Room & Kitchen, Walk-in Closets,Individually Controlled Central Air & Heat,Private Balconies.
KITCHENS: Fully Renovated Kitchen Complete with Pantry, BreakfastBar and Whirlpool Appliances Including: Quiet CycleDishwasher, Electric Stove, Frost-free Refrigerator, andAbove-range Microwave (in Select Apartments).
PROPERTY AMENITIES:Sky Park with Rooftop Pool, Jacuzzi, Fire Pit, Lounge Area, Tennis Courts,Running track, Updated Sports Court. Sky Club with Outdoor Terrace,Kitchen, Pool Table, Fireplace, TV’s. Indoor Garage Parking (Attached), 24-Hour Security, Concierge, On-site Market, Fitness Center, Business Center,Laundry Room.
CENTRALBUSINESS DISTRICT
17
STUDIO 4 580 $850 $1.47
1 BEDROOM 28 930 $1,150 $1.24
2 BEDROOM 10 1218 $1,650 $1.35
3 BEDROOM 2 1700 $2,500 $1.47
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
Units: 44
Unit Mix: Studio, One, Two &Three Bedrooms
Year Built: 1906
Historic Building:Yes
Year Remodeled: 2012
Occupancy: 93%
INTERIOR FEATURES & FINISHES:GENERAL: Hardwood Floors, In-wall Magic Pak HVAC Units.
KITCHENS: Granite Countertops, Stainless Steel Appliances,Cherry Cabinets.
BATHROOMS: Original Tile Floors and Tubs, Upgraded Fixtures.
PROPERTY AMENITIES:Pets Accepted, Laundry Room on Each Floor,On-site Management & Maintenance, Wi-Fi, Controlled Access.
CENTRALBUSINESS DISTRICT
THE CLARIDGE1215 Griswold, Detroit, Michigan
18
TOWN RESIDENCES1511 1st Street, Detroit, Michigan
Units: 257
Unit Mix: Studio, One &Two Bedrooms
Year Built: 1940
Historic Building:Yes
Year Remodeled: 2015
Occupancy:UNDERRENOVATION
INTERIOR FEATURES & FINISHES:GENERAL: Currently Under Renovation, All Utilities Included.
KITCHENS: Dishwasher, Garbage Disposal, Laminate Countertopsand Cabinets.
BATHROOMS: Laminate Countertops, Tile Floors, Standard Fixtures.
PROPERTY AMENITIES:Laundry Facility, Underground Parking Garage Available, 24-HourSecurity/Attended Lobby with Electronic Entry, No Pets Allowed, FitnessCenter, Front Desk Package Pickup.
CENTRALBUSINESS DISTRICT
*Excluded from 2016 study due to ownership change and renovation
19
STUDIO 21 660 $1,270 $1.92
1 BEDROOM 144 1008 $1,710 $1.70
2 BEDROOM 32 1507 $2,170 $1.44
3 BEDROOM 2 2001 $2,805 $1.40
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
THE LOFTS ATMERCHANTS ROW1247 Woodward Avenue, Detroit, Michigan
Units: 157 + 42 (expansion)199 Total Units
Unit Mix: Studio, One, Two& Three Bedrooms
Year Built: 1917-1941
Historic Building:Yes
Year Remodeled: 2003
Occupancy: 100%
(70% Pre-Leased on NewConstruction Units)
INTERIOR FEATURES & FINISHES:GENERAL: 12 ft+ Ceilings, Exposed Brick Walls, Stained Concrete,
Hardwood, Tile & Carpet Floors, Central A/C, Walk-inClosets, Track Lighting, Combo Washer/Dryer in Each Unit.
KITCHENS: Granite Countertops with Ceramic Sinks, MapleCabinets. GE Appliances Including Frost-freeRefrigerator with Ice-maker, Internal Water Dispenserand Glass Shelves. Also Includes Microwave,Dishwasher, Disposal. Upgraded Kohler Chrome Faucetwith Pull-Out Spray Handle, Standard in All Units.
BATHROOMS: Granite Countertops, Upgraded Fixtures, Tile Floors.
PROPERTY AMENITIES:On-site Garage Parking, Free Shuttle, Fitness Center, Extra Storage,Restricted Access, Laundry Rooms, Free Wi-Fi, Free Room Service from theHudson Café.
CENTRALBUSINESS DISTRICT
20
STUDIO 10 698 $1,325 $1.90
1 BEDROOM 42 992 $1,704 $1.72
2 BEDROOM 9 1252 $2,101 $1.68
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
LOFTS ATWOODWARD CENTER1448 Woodward Avenue, Detroit, Michigan
Units: 61
Unit Mix: Studio, One,Two Bedrooms
Year Built: 1896-1910
Historic Building:Yes
Year Remodeled: 2002
Occupancy: 97%
*Renovating as ResidentsMove Out
INTERIOR FEATURES & FINISHES:GENERAL: 10 ft+ Ceilings (Up to 18 Feet), Exposed Ductwork,
Stained Concrete Floors, Washer/Dryer in Every Unit,Track Lighting.
KITCHENS: Dishwasher, Garbage Disposal.
BATHROOMS: Stained Concrete Floors, Laminate Countertops,Maple Cabinets, Upgraded Fixtures.
PROPERTY AMENITIES:Gated Parking Included, Small Pets are Accepted, Controlled Access.
CENTRALBUSINESS DISTRICT
21
1 BEDROOM 18 982 $1,809 $1.84
2 BEDROOM 22 1464 $2,537 $1.73
3 BEDROOM 17 1848 $3,300 $1.79
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
FORT SHELBY TOWERAPARTMENTS527 West Lafayette, Detroit, Michigan
Units: 57
Unit Mix:One, Two, ThreeBedrooms,Penthouse
Year Built: 1917
Historic Building:Yes
Year Remodeled: 2008
Occupancy: 95%
INTERIOR FEATURES & FINISHES:GENERAL: Amazing Views, Walk-in Closets, Washer/Dryer in Unit,
Central A/C, Albert Kahn Design.
KITCHENS: Granite Countertops, Maple Cabinets, AppliancesIncluded (Including Microwave, Dishwasher, Disposal).
BATHROOMS: Granite Countertops, Marble Floors, Luxury Finishes.
PROPERTY AMENITIES:Concierge, Parking On-site, Fitness Center, Extra Storage, Clubroom,Business Center, 24-hour Security, Restricted Access, Laundry rooms, Wi-Fi,20% Off On-site Restaurants.
CENTRALBUSINESS DISTRICT
22
1 BEDROOM 5 984 $2,430 $2.47
2 BEDROOM 10 1338 $3,144 $2.35
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
BOOK CADILLACRESIDENCES1114 Washington, Detroit, Michigan
Units: 15
Unit Mix:One & TwoBedroom Condos
Year Built: 1924
Historic Building:Yes
Year Remodeled: 2008
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: 29 Floors, 455 Hotel Rooms, 67 Condos. 18 of Those
Condos are Temporarily for Rent. Louis Kamper andAlbert Kahn Design, Amazing Views, Hardwood Floors,Walk-in Closets, Washer/Dryer in Unit, Central A/C.
KITCHENS: Granite Countertops Maple Cabinets, Stainless SteelAppliances (Including Microwave, Dishwasher, Disposal).
BATHROOMS: Granite Countertops, Marble Floors, Luxury Finishes.
PROPERTY AMENITIES:“Westin” Hotel Amenities Including: Concierge, Parking On-site, Valet, RoomService, Shoe Shine, Fitness Center, Extra Storage, Clubroom, BusinessCenter, 24-hour Security, Restricted Access, Laundry Rooms, Dry Cleaning,Wi-Fi, Heated Indoor Pool, Private Elevators, Private Residential Lobby. Spa,Bar & Restaurant On-site.
CENTRALBUSINESS DISTRICT
*No longer offered as apartments. Only available through co-owners.
23
OPEN LOFTS 20 1024 $1,675 $1.64
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
SECURITYTRUST LOFTS735 Griswold, Detroit, Michigan
Units: 20
Unit Mix:Open Lofts
Year Built: 1925
Historic Building:Yes
Year Remodeled: 2013
Occupancy: 90%
INTERIOR FEATURES & FINISHES:GENERAL: Historic 7-Story Building Designed by Albert Kahn.
KITCHENS: Open Kitchen with Large Center Island, HardwoodCabinetry, Granite Countertops, Kohler Chrome Faucetwith Pull-out Spray Handle, Double-bowl Stainless SteelSink and Contemporary GE Appliances Package(Electric Range, Dishwasher, Refrigerator, Washer/DryerCombination Unit).
BATHROOMS: Porcelain Tile Floor and Surround in Tub and Shower,Granite Countertops with Stainless Steel, Full VanityMirror with Vanity Light Bar, Hardwood Cabinetry,Kohler Plumbing Fixtures, Walk-in Shower.
PROPERTY AMENITIES:Located in the Heart of Downtown Detroit. Exercise and Fitness Center,Security System for Entering Guests, Community Room.
CENTRALBUSINESS DISTRICT
24
OPEN LOFTS 6 1700 $2,500 $1.47
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
LIBRARY LOFTS1250 Library Street, Detroit, Michigan
Units: 6
Unit Mix:One & TwoBedroom Lofts
Year Built: 1915
Historic Building:Yes
Year Remodeled: 1992
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Hardwood Floors
KITCHENS: Maple Cabinets, Stainless Steel or Black Appliances,Solid Surface Counter Tops, Luxury Fixtures.
BATHROOMS: Tile Floors, Stand Alone Ceramic Vanities, Luxury Fixtures.
PROPERTY AMENITIES:Secure Parking On-site, Restricted Access, Laundry Room, In-unitWasher/Dryer Hook-ups.
CENTRALBUSINESS DISTRICT
25
2 BEDROOM 16 1615 $2,250 $1.39
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
BROADWAY LOFTS1323 Broadway, Detroit, Michigan
Units: 16
Unit Mix: Two Bedroom Lofts
Year Built: 1916
Historic Building:Yes
Year Remodeled:N/A
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Direct Elevator to Entry, 16-Foot Ceilings, Stacked Full-
size Washer & Dryer in Unit, Individual A/C & Furnace.
KITCHENS: Granite Countertops, Stainless Steel Appliances,Ceramic Tile, Laminate Wood Grain Cabinets.
BATHROOMS: Marble Vessel Sinks, Ceramic Tile, Waterfall Faucets.
PROPERTY AMENITIES:Secured Parking On-site, Extra Atorage Available, Restricted Access & Security.
CENTRALBUSINESS DISTRICT
26
1 BEDROOM 33 683 $1,228 $1.80
2 BEDROOM 34 893 $1,538 $1.72
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
CENTRALBUSINESS DISTRICT
THE ASHLEY1538 Centre Street, Detroit, Michigan
Units: 67
Unit Mix:One & TwoBedrooms
Year Built: 1916
Historic Building:Yes
Year Remodeled: 2015
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Faux Hardwood Flooring, Plush Carpeting, Eco Friendly
Heating and Cooling Systems, Optional ClimateControl, 9 ft Ceilings.
KITCHENS: Shaker Cabinets, Clean Steel Appliances, Over-the-Range Microwave, Dishwasher.
BATHROOMS: Ceramic Tile, Pedestal Sinks, Chrome Hardware.
PROPERTY AMENITIES:Spectacular Downtown Views, Vintage Lobby Entrance, On-site Retail (Dilla’sDelightsand Vertical), On-site Laundry, 24-Hour Emergency Maintenance, Key-less Entry and Secure Elevators, Guest Intercom System, Prome Covered Parking,Pet Friendly, Dry Cleaning Pick Up and Drop Off Services, On-site Management.
27
OPEN LOFTS 51 1450 $1,450 $1.00
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
GREEKTOWN LOFTS743 Beaubien, Detroit, Michigan
Units: 51
Unit Mix:Open Lofts
Year Built: 1885
Historic Building:Yes
Year Remodeled: 1991
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Hardwood Floors, Open Loft Space Units.
KITCHENS: White Laminate Counter Tops and Cabinets,White Appliances.
BATHROOMS: Hardwood Floors, Laminate Vanities, Standard Fixtures.
PROPERTY AMENITIES:On-site Laundry, Heat & Water Included, Cats Welcome
CENTRALBUSINESS DISTRICT
28
1 BEDROOM 3 1400 $1,750 $1.25
2 BEDROOM 1 1500 $2000 $1.33
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
EUREKA LOFTS1521 Broadway, Detroit, Michigan
Units: 4
Unit Mix:One & TwoBedroom Lofts
Year Built:N/A
Historic Building:Yes
Year Remodeled:N/A
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Hardwood/Concrete Floors, High Ceilings.
KITCHENS: Concrete Countertops, Stainless Steel Appliances,Maple Cabinets.
BATHROOMS: High-end Finisheds, Tile floors.
PROPERTY AMENITIES:Private Elevator Access.
CENTRALBUSINESS DISTRICT
29
1 BEDROOM 200 878 $1,350 $1.54
2 BEDROOM 139 1365 $1,800 $1.32
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
RENAISSANCE CITYAPARTMENTS55 Brush, Detroit, Michigan
Units: 339
Unit Mix:One & TwoBedrooms
Year Built: 1985
Historic Building:No
Year Remodeled: 2013
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Three Interior Finish Packages. Vinyl Wood Flooring in Foyer,
Dining Room & Kitchen. Walk-in Closets, IndividuallyControlled Central Air & Heat, Private Balconies.
KITCHENS: Fully Renovated Kitchen Complete with Pantry, BreakfastBar and Whirlpool Appliances Including: Quiet CycleDishwasher, Electric Stove, Frost-free Refrigerator, andAbove-range Microwave (in Select Apartments).
PROPERTY AMENITIES:Sky Park with Rooftop Pool, Jacuzzi, Fire Pit, Lounge Area, Tennis Courts,Running Track. Sky Club with Outdoor Terrace, Kitchen, Pool Table, Fireplace,TV’s. Indoor Garage Parking (Attached), 24-Hour Security, Concierge, On-site Market, Fitness Center, Business Center, Laundry Room.
CENTRALBUSINESS DISTRICT
30
STUDIO 44 350 $563 $1.61
1 BEDROOM 167 600 $763 $1.27
2 BEDROOM 10 700 $850 $1.21
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
THE NEW CADILLACSQUARE APARTMENTS111 Cadillac Square, Detroit, MI
Units: 221
Unit Mix: Studio, One &Two Bedroom
Year Built: 1927
Historic Building:Yes
Year Remodeled:N/A
Occupancy: 94%
INTERIOR FEATURES & FINISHES:GENERAL: Carpet, Walk-in Closets,
Window Unit A/C Included.
KITCHENS: Laminate Counter Tops, White or Cherry Cabinets,White Appliances, Vinyl Floors.
BATHROOMS: Vinyl Floors, Ceramic Stand Alone Vanities, Standard Fixtures.
PROPERTY AMENITIES:Parking On-site, Fitness Center, Restricted Access, Laundry Rooms.Convenience Store, Restaurant and Salon in Building.
CENTRALBUSINESS DISTRICT
31
CorktownCorktown is the oldestneighborhood in Detroit, Michigan,although the city of Detroit is twiceas old. The neighborhood is largelyresidential and was listed on theNational Register of HistoricPlaces in 1978.
DOWN TOWN D E T R O I T A PA R TM EN T R E N TA L S
CENTRALBUSINESS DISTRICT
GRAND CIRCUSPARK LAFAYETTE PARK
CORKTOWN
10
1
12
KALINE
MICHIGAN AVE.
MICHIGAN AVE.
PLUMPLUM
CHERRY
ELIZABETH
CHERRY
CHURCH
LEVERETTE
BAGLEY
LABROSSE
PORTER
ABBOTT
HOWARD
FORT
TENT
H
JEFFERSON
ABBOTT
TENT
H
ROSA
PARK
S BLV
D.
VERM
ONT S
T.
FORT
IETH
FO
RTIE
TH
TRUM
BULL
SIXT
HSI
XTH
FIFTH
THIR
D
SECO
ND
FIRST
LARNE
C
ELIZABETH
BEECH
PLAZA
BAGLEY
GRAN
ELIZAB
LAFAYETTE
HOWARD
FIRST
SECO
ND
FOUR
TH
EIGHT
H
BROO
KLYN
BROO
KLYN
BROO
KLYN
W. LAFAYETTE
DALZETTE ST.
OldTiger
Stadium
LAFAYETTELOFTS
RIVERFRONTTOWERS
BROOKLYN PARKLOFTS
COAT FACTORYLOFTS
CORKTOWN RENTALS:
LAFAYETTE LOFTS 1302 West Lafayette 50 units
COAT FACTORY LOFTS 1652 Fort Street 62 units
BROOKLYN PARK LOFTS 2233 Brooklyn St. 63 units
RIVERFRONT TOWERS 100 Riverfront 555 units
32
1 BEDROOMS 259 743 $1,650 $2.22
2 BEDROOMS 296 1450 $2,450 $1.69
OPEN LOFTS 175 950 $961 $1.01
SUBMARKETAVERAGES 730 $1.68(WEIGHTED)
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
Corktown contains the
majority of the open loft space in DowntownDetroit and reports 97% occupancy
CORKTOWN RENTALS:
LAFAYETTE LOFTS 1302 West Lafayette 50 units
COAT FACTORY LOFTS 1652 Fort Street 62 units
BROOKLYN PARK LOFTS 2233 Brooklyn St. 63 units
RIVERFRONT TOWERS 100 Riverfront 555 units
CORKTOWN
33
CORKTOWN
OPEN LOFTS 50 1325 $1,283 $0.97
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
LAFAYETTE LOFTS1302 West Lafayette, Detroit, Michigan
Units: 50
Unit Mix:Open Lofts
Year Built: 1920
Historic Building:No
Year Remodeled: 1992
Occupancy: 98%
INTERIOR FEATURES & FINISHES:GENERAL: 10 ft+ Ceilings, Window Unit A/C.
KITCHENS: White Laminate Countertops, White Laminate Cabinets,White Appliances.
BATHROOMS: Laminate Vanities, Hardwood Floors, Standard Fixtures.
PROPERTY AMENITIES:On-site Parking, 24-Hour Security, Laundry Rooms, Water Included,Cats Welcome
34
CORKTOWN
OPEN LOFTS 62 700 $775 $1.11
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
COAT FACTORY LOFTS1652 Fort Street, Detroit, Michigan
Units: 62
Unit Mix: Studio, OneBedroom Lofts
Year Built:N/A
Historic Building:Yes
Year Remodeled:N/A
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Hardwood Floors.
KITCHENS: Faux Granite Countertops, Black Appliances,Maple Cabinets.
BATHROOMS: Laminate Countertops, Hardwood Floors,Upgraded Fixtures.
PROPERTY AMENITIES:Resident Lounge, Heat & Water Included, Pets Welcome.
35
CORKTOWN
OPEN LOFTS 63 825 $825 $1.00
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
BROOKLYN PARKLOFTS2233 Brooklyn Street, Detroit, Michigan
Units: 63
Unit Mix:Open Lofts
Year Built:N/A
Historic Building:No
Year Remodeled:N/A
Occupancy: 93%
INTERIOR FEATURES & FINISHES:GENERAL: Hardwood Floors.
KITCHENS: White Laminate Countertops, White Cabinets,White Appliances.
BATHROOMS: White Laminate Vanities, Hardwood Floors, Jetted Tubsin Some Units, Standard Fixtures.
PROPERTY AMENITIES:Water Included, Pets Welcome.
36
CORKTOWN
1 BEDROOM 259 743 $1,650 $2.22
2 BEDROOM 296 1450 $2,450 $1.69
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
RIVERFRONT TOWERS100 Riverfront Drive, Detroit, Michigan
Units: 555
Unit Mix:One & TwoBedroom
Year Built: 1983
Historic Building:No
Year Remodeled:N/A
Occupancy: 97%
INTERIOR FEATURES & FINISHES:GENERAL: Gated Community, Parking Garage On-site, Balconies
on Select Units, Washer/Dryer in Unit, Walk-in Closets inSelect Units, Carpet Throughout, Wall Mount HVAC Units.
KITCHENS: Wood Laminate Floors, White Laminate Countertopsand Cabinets, White Appliances.
BATHROOMS: Stone Countertops, Tile Floors, Upgraded Fixtures.
PROPERTY AMENITIES:Fitness Center, Tennis & Volleyball Courts, Restaurant, Salon & Dry CleanerOn-site, Skywalk with Direct People Mover Access, Indoor Heat Pool &Jacuzzi, Outdoor Picnic and Playscape Area, Jogging Trail, Dog Run.
37
Lafayette ParkLafayette Park is a residentialneighborhood east of DowntownDetroit. The area is part of the Miesvan der Rohe Residential Districtlisted in the National Register ofHistoric Places. Lafayette Park islocated on the city’s lower east sidedirectly south of the Eastern MarketHistoric District.
D OWN TOWN D E T R O I T A PA R TM EN T R E N TA L S
CENTRALBUSINESS DISTRICT
GRAND CIRCUSPARK CORKTOWN
LAFAYETTE PARK
375
7
3
LARNED
LIBRARYFARMER
CONGRESS
MONROE
LAFAYETTE
LAFAYETTE
MACOMB
CLINTON
MULLET
ADAMS
BEACON
MADISON
FORT
ST.A
NTOI
NE
BEAU
BEIN
BRUS
H
WITH
EREL
L
CADILLAC SQ.
GRATIOT AVE.
BRUS
H
ST. A
UBIN
ORLE
ANS
RIVA
RD
CHRY
SLER
DR.
PEMBRIDGE ONE LAFAYETTE PL.
CHATEAUFORT
CHERBONEAU
NICOLET PL
DUCHARME PL.
STAF
FORD
LARNED
E
NAVARRE PL.
AUBIN
RAND
OLPH
JEFFERSON
JOLIET PL.
ANTIETAM AVE.
AN
Park
E
LafayettePlaisance
LafayetteCentral Park
C
THE PAVILLION APTS.
LAFAYETTETOWERS
ORLEANS EASTAPARTMENTS
CARLTONAPARTMENTS
JEAN RIVARDAPARTMENTS
CENTRAL PARKAPARTMENTS
CITY PLACEDETROIT
PALMSAPARTMENTS
LAFAYETTE PARK RENTALS:
THE PAVILLION APTS One Lafayette Plaisance 340 units
LAFAYETTE TOWERS 1301 Orleans 584 units
CITY PLACE DETROIT 1600 Antietam 320 units
THE PALMS EAST APARTMENTS 1531 East Larned 114 units
CENTRAL PARK APARTMENTS 621 Orleans 92 units
CARLTON APARTMENTS 1387 East Larned 144 units
JEAN RIVARD APARTMENTS 930 East Lafayette 146 units
THE PALMS APARTMENTS 1001 East Jefferson 62 units
38
STUDIOS 627 540 $754 $1.40
1 BEDROOMS 768 749 $947 $1.26
2 BEDROOMS 359 1065 $1,357 $1.27
3 BEDROOMS 48 1650 $2,100 $1.27
SUBMARKETAVERAGES 1802 $1.30(WEIGHTED)
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
Lafayette Park contains the majority of the3 bedroom apartments in Downtown Detroit
and reports 94% occupancy.
LAFAYETTE PARK
LAFAYETTE PARK RENTALS:
THE PAVILLION APTS One Lafayette Plaisance 340 units
LAFAYETTE TOWERS 1301 Orleans 584 units
CITY PLACE DETROIT 1600 Antietam 320 units
THE PALMS EAST APARTMENTS 1531 East Larned 114 units
CENTRAL PARK APARTMENTS 621 Orleans 92 units
CARLTON APARTMENTS 1387 East Larned 144 units
JEAN RIVARD APARTMENTS 930 East Lafayette 146 units
THE PALMS APARTMENTS 1001 East Jefferson 62 units
39
LAFAYETTE PARK
STUDIO 180 565 $866 $1.53
1 BEDROOM 120 780 $1,431 $1.83
2 BEDROOM 40 1140 $1,489 $1.31
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
THE PAVILIONAPARTMENTSOne Lafayette Plaisance, Detroit, Michigan
Units: 340
Unit Mix: Studio, One,Two Bedroom
Year Built: 1958
Historic Building:Yes
Year Remodeled:N/A
Occupancy: 96%
INTERIOR FEATURES & FINISHES:GENERAL: 22-story, Mies van der Rohe design, Rent Includes
Heat, Water & A/C, Floor-to-Ceiling Windows.
KITCHENS: Laminate Countertops, Almond Cabinets, Tile Floors.
BATHROOMS: Tile Floors.
PROPERTY AMENITIES:Secured Access, Salon On-site, Convenience Store On-site, Parking On-site,Fitness Center, 24-Hour Business Center, Heated Outdoor Pool, LaundryRooms, 24-Hour Security, Clubroom, ATM.
40
LAFAYETTE PARK
STUDIO 192 504 $784 $1.56
1 BEDROOM 204 791 $1,059 $1.34
2 BEDROOM 140 1273 $1,410 $1.11
3 BEDROOM 48 1650 $2,100 $1.27
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
LAFAYETTE TOWERS1301 Orleans, Detroit, Michigan
Units: 584
Unit Mix: Studio, One, Two &Three Bedroom
Year Built: 1963
Historic Building:Yes
Year Remodeled:N/A
Occupancy: 97%
INTERIOR FEATURES & FINISHES:GENERAL: Mies van der Rohe Design, Carpet Throughout, Radiant
Heat, Central Air. Heat and Water Included in Rent.
KITCHENS: White Appliances, Laminate, Countertops, White orWood Grain Laminate Cabinets. Garbage Disposals inEvery Unit, Dishwashers in Select Units.
BATHROOMS: Tile Floors, Laminate Countertops, Standard Fixtures.
PROPERTY AMENITIES:Secured Access, Garage Parking On-site, Fitness Center, 24-Hour BusinessCenter, Heated Outdoor Pool, Laundry Rooms, 24-Hour Security, Clubroom,ATM, Storage Lockers Available.
41
LAFAYETTE PARK
STUDIO 177 480 $729 $1.52
1 BEDROOM 143 560 $908 $1.62
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
CITY PLACEDETROIT1600 Antietam, Detroit, Michigan
Units: 320
Unit Mix: Studio & OneBedroom
Year Built: 1965
Historic Building:No
Year Remodeled: 2014
Occupancy:89%
INTERIOR FEATURES & FINISHES:GENERAL: Walk-in Closets, Over-Sized Windows with Beautiful
Views, High Speed Internet Access, Gas, Electric, and Water Included.
KITCHENS: New Appliances, Garbage Disposals.
BATHROOMS: Updated Bathrooms with Full Vanities.
PROPERTY AMENITIES:24-Hour Security, 24-Hour Fitness Center, Free WiFi in Lobby andCommunity Area, On-Site Convenience Store, On-Site Laundry Facilities,Pets Allowed (Restrictions Apply), Patio on the Park, Online and Credit CardPayments Accepted, Park and River Views.
42
LAFAYETTE PARK
1 BEDROOM 76 740 $845 $1.14
2 BEDROOM 38 940 $1,125 $1.20(Extra Large 1 Bedroom)
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
THE PALMS EASTAPARTMENTS1531 East Larned, Detroit, Michigan
Units: 114
Unit Mix:One & TwoBedroom
Year Built: 1964
Historic Building:No
Year Remodeled:N/A
Occupancy: 99%
INTERIOR FEATURES & FINISHES:GENERAL: Lofts in Some Units, Carpet/Vinyl Floors, Central A/C,
Patio/Balcony.
KITCHENS: Laminate Countertops, Maple Cabinets, Refrigerator,Range, Dishwasher, Disposal Included.
BATHROOMS: Laminate Floors, Tub Inserts, Laminate Countertops,Standard Fixtures.
PROPERTY AMENITIES:On-site Gated Parking, Pool, Laundry Rooms.
43
LAFAYETTE PARK
1 BEDROOM 74 637 $700 $1.10
2 BEDROOM 18 878 $850 $0.97
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
CENTRAL PARKAPARTMENTS621 Orleans, Detroit, Michigan
Units: 92
Unit Mix:One & TwoBedrooms
Year Built: 1964
Historic Building:No
Year Remodeled:N/A
Occupancy: 85%
INTERIOR FEATURES & FINISHES:GENERAL: Carpet Flooring.
KITCHENS: White Appliances, Laminate Wood Grain Cabinets,Laminate Countertops.
BATHROOMS: Laminate Vanities, Vinyl Flooring, Standard Fixtures.
PROPERTY AMENITIES:Pool, Laundry Room.
44
LAFAYETTE PARK
STUDIO 48 650 $690 $1.06
1 BEDROOM 48 850 $775 $0.91
2 BEDROOM 48 1000 $875 $0.88
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
CARLTON APARTMENTS1387 East Larned, Detroit, Michigan
Units: 144
Unit Mix: Studio, One &Two Bedrooms
Year Built:N/A
Historic Building:No
Year Remodeled:N/A
Occupancy: 96%
INTERIOR FEATURES & FINISHES:GENERAL: Large Units, Carpet Flooring. Free Heat & Water.
KITCHENS: White Appliances, Laminate Wood Grain Cabinets,Laminate Countertops.
BATHROOMS: Laminate Vanities, Vinyl Floors, Standard Fixtures.
PROPERTY AMENITIES:Pool, Laundry Room, Located in Lafayette Park, Intercom Entry.
45
LAFAYETTE PARK
1 BEDROOM 73 833 $830 $1.00
2 BEDROOM 73 1161 $1,113 $0.96
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
JEAN RIVARDAPARTMENTS930 East Lafayette, Detroit, Michigan
Units: 146
Unit Mix:One & TwoBedrooms
Year Built: 1967
Historic Building:No
Year Remodeled:N/A
Occupancy: 100%
INTERIOR FEATURES & FINISHES:GENERAL: Carpet Flooring. Rent Includes Heat, Water & Parking.
KITCHENS: Cooks Kitchen, Gas Range/Oven, Pantry (2 BR).
BATHROOMS: Ceramic Tile, Glass Shower Doors (2 BR).
PROPERTY AMENITIES:Pool, Laundry Room, Located in Lafayette Park, Secure Gated Parking (1 BR)and Garage Parking (2 BR).
46
LAFAYETTE PARK
STUDIO 30 500 $700 $1.40
1 BEDROOM 30 800 $1,025 $1.28
2 BEDROOM 2 1000 $1,350 $0.74
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
PALMS APARTMENTS1001 East Jefferson, Detroit, Michigan
Units: 62
Unit Mix: Studio, One &Two Bedrooms
Year Built: 1903
Historic Building:Yes
Year Remodeled:N/A
Occupancy: 90%
INTERIOR FEATURES & FINISHES:GENERAL: Historic Building, Over-Sized Windows with Beautiful
Views, Cable Ready, Ceilng Fans in Select Apartments,Custon Built-Ins, Fireplaces (Non-Functioning)Hardwood Flooring Throughout, Mosaic Tiles.
KITCHENS: Stove, Refrigerator.
PROPERTY AMENITIES:24-Hour Emergency Maintenance, Emergency Answering Service, Friendly Staff, Private Entries, Professionally Managed, Scenic Views, Unique Floor Plans.
47
DOWNTOWN AVERAGE RENTAL RATES
STUDIO 778 533 $894 $1.68
1 BEDROOM 2264 775 $1,359 $1.75
2 BEDROOM 1229 1246 $2,056 $1.65
3 BEDROOM 79 1772 $2,984 $1.68
OPEN LOFTS 263 1124 $1,608 $1.43
MARKETAVERAGES 4613 $1.68(WEIGHTED)
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
48
DOWNTOWN MARKET TRENDS
Green - Peak Average
TOTAL NUMBEROF UNITS
CHANGEAVERAGE
SQUARE FEETCHANGE
AVERAGERENT
CHANGEAVERAGE RENT
PER SQUARE FOOTCHANGE
1 Bedroom
Studio
2 Bedroom
3 Bedroom
Open Loft
FALL 2013 557 $711665 $1.28
FALL 2013 825 $1,0351887 $1.25
FALL 2013 1257 $1,4481178 $1.15
FALL 2013 1921 $2,74075 $1.43
FALL 2013 1113 $896237 $0.81
SPRING 2014 590 5.92% $820 15.33%665 0.00% $1.39 8.88%
FALL 2014 518 -12.20% $726 -11.46%662 -0.45% $1.40 0.84%
SPRING 2015 546 5.41% $800 10.19%697 5.29% $1.47 4.88%
FALL 2015 542 -0.73% $881 10.12%715 2.58% $1.63 10.88%
SPRING 2016 533 -1.66% $894 1.48%778 8.81% $1.68 3.19%
SPRING 2016 775 -1.40% $1,359 10.76%2264 5.74% $1.75 12.33%
SPRING 2016 1246 0.48% $2,056 21.30%1229 0.24% $1.65 20.71%
SPRING 2016 1772 -0.56% $2,984 3.72%79 0.00% $1.68 4.30%
SPRING 2016 1124 5.34% $1,608 9.76%263 -4.36% $1.43 4.42%
SPRING 2014 837 1.45% $1,076 3.96%1877 -0.53% $1.29 2.47%
FALL 2014 791 -5.50% $1,081 0.46%2001 6.61% $1.37 6.31%
SPRING 2015 776 -1.90% $1,170 8.23%2122 6.15% $1.51 10.49%
FALL 2015 786 1.29% $1,227 4.87%2141 7.00% $1.56 3.31%
SPRING 2014 1182 -5.97% $1,424 -1.66%1188 0.85% $1.20 4.58%
FALL 2014 1196 1.18% $1,550 8.85%1195 0.59% $1.30 7.57%
SPRING 2015 1236 3.34% $1,726 11.35%1188 -0.59% $1.40 8.03%
FALL 2015 1240 0.32% $1,695 -1.80%1226 3.20% $1.37 -2.14%
SPRING 2014 1894 -1.41% $2,735 -0.18%75 0.00% $1.44 1.24%
FALL 2014 1861 -1.74% $2,760 0.91%77 2.67% $1.48 2.70%
SPRING 2015 1806 -2.96% $2,788 1.01%82 6.49% $1.54 3.84%
FALL 2015 1782 -1.33% $2,877 3.19%79 -3.66% $1.61 4.55%
SPRING 2014 1012 -9.07% $1,142 27.46%257 8.44% $1.13 40.37%
FALL 2014 1042 2.96% $1,256 9.98%274 6.61% $1.21 6.67%
1067 2.40% $1,465 16.64%SPRING 2015 275 0.36% $1.37 13.66%
1067 0.00% $1,465 0.00%FALL 2015 275 0.00% $1.37 0.00%
TOTAL NUMBEROF UNITS
CHANGE CHANGEAVERAGE RENT
PER SQUARE FOOT
MarketAverages
FALL 2013 $1.194042
SPRING 2014 $1.26 5.88%4062 0.49%
FALL 2014 $1.34 6.35%4209 3.62%
SPRING 2015 $1.45 8.21%4366 3.73%
FALL 2015 $1.51 4.14%4436 1.60%
SPRING 2016 $1.68 11.26%4613 3.99%
49
DOWNTOWN MARKET TRENDS
0
Studio One Bedroom Two Bedroom Three Bedroom Open Loft
Avg. Rent Avg. Rentper Sq.Ft.
Avg. Rent Avg. Rent Avg. Rent Avg. RentAvg. Rentper Sq.Ft.
Avg. Rentper Sq.Ft.
Avg. Rentper Sq.Ft.
Avg. Rentper Sq.Ft.
$500 ($0.50)
$1,000 ($1.00)
$1,500 ($1.50)
$2,000 ($2.00)
$2,500 ($2.50)
$3,000 ($3.00)
Fall 2013
Spring 2014
Fall 2014
Spring 2015
Spring 2016
Fall 2015
Fall 2013
Spring 2014
Fall 2014
Spring 2015
Spring 2016
Fall 2015
$711 $820
$72
6
$803 $881
$894
$1.28 $1.39
$1.40
$1.47 $
1.63
$1.68
$1,035
$1,076
$1,081
$1,172
$1,227
$1,359
$1.25
$1.29
$1.37 $1.51
$1.56
$1.75
$1,448
$1,424 $1,550 $1,730
$1,695
$2,056
$1.15
$1.20
$1.30
$1.40
$1.37
$1.65
$2,740
$2,735
$2,760
$2,781
$2,875
$2,984
$1.43
$1.44
$1.48
$1.54 $1.61
$1.68
$896
$1,14
2
$1,256 $
1,462
$1,462 $1,608
$0.81
$1.13 $1.21 $1.37
$1.37
$1.43
50
AVERAGE RENTAL RATES (SUBMARKETS):
Grand Circus Park
STUDIO 38 461 $890 $1.93
1 BEDROOM 238 725 $1,305 $1.80
2 BEDROOM 127 1205 $2,372 $1.97
3 BEDROOM 8 1888 $3,875 $2.05
OPEN LOFTS 11 1030 $1,988 $1.93
SUBMARKETAVERAGES 422 $1.89
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
Central Business District
STUDIO 113 597 $1,037 $1.74
1 BEDROOM 999 883 $1,533 $1.74
2 BEDROOM 447 1265 $2,043 $1.62
3 BEDROOM 23 1779 $2,970 $1.67
OPEN LOFTS 77 1391 $1,875 $1.35
SUBMARKETAVERAGES 1659 $1.67
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
Corktown
1 BEDROOM 259 743 $1,650 $2.22
2 BEDROOM 296 1450 $2,450 $1.69
OPEN LOFTS 175 950 $961 $1.01
SUBMARKETAVERAGES 730 $1.68
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
Lafayette Park
STUDIO 627 540 $754 $1.40
1 BEDROOM 768 749 $947 $1.26
2 BEDROOM 359 1065 $1,357 $1.27
3 BEDROOM 48 1650 $2,100 $1.27
SUBMARKETAVERAGES 1802 $1.30
TOTAL NUMBER AVERAGE AVERAGE AVERAGE RENTFLOOR PLAN STYLE OF UNITS SQUARE FEET RENT PER SQUARE FOOT
51
DOWNTOWN DETROIT RENTALS
The Albert Detroit City Apartments Carlton ApartmentsBroderick Tower Renaissance City Apartments New Cadillac SquareDavid Whitney Building The Claridge House Jean Rivard
AVG RENT: AVG RENT: AVG RENT:
Studios . . . . . . . . . . . . . $1,005 Studios. . . . . . . . . . . . . . . $850 Studios . . . . . . . . . . . . . . . . . . . . $694
One Bedrooms . . . . $1,486 One Bedrooms . . . . $1,220 One Bedrooms . . . . . . . . . . . $789
Two Bedrooms . . . . $2,847 Two Bedrooms. . . . . . $1,693 Two Bedrooms . . . . . . . . . . . . $946
Three Bedrooms . . $3,875 Three Bedrooms . . . $2,500 Three Bedrooms. . . . . . . . . . . . . n/a
HIGH END MID-MARKET LOW END(Sample) (Sample) (Sample)
SAMPLE MARKET RATES
52
DOWNTOWN DETROIT RENTALS
AVERAGE OCCUPANCY:
AVERAGEDOWNTOWN OCCUPANCY = 97%
Grand Circus Park . . . . . . . . . . . . . . . . 100%
Central Business District*. . . . . . . . . . . 98%
Corktown. . . . . . . . . . . . . . . . . . . . . . . . . . . 97%Lafayette Park . . . . . . . . . . . . . . . . . . . . . . 94%
53
DOWNTOWN DETROIT RENTALS
Capitol Park Lofts (1145 Griswold, 63 Units) - Summer 2016
Briggs Houze (114 W. Adams, 116 Apartments) - Summer 2016
DuCharme Place (1544 E. Lafayette, 185 Units) - Fall 2016
The Griswold (150 Michigan Avenue, 80 Apartments) - Winter 2016
Farwell Building (1149 Griswol, Lofts/Apartments) - 2017
Statler City (Washington Blvd. & Park Ave., 200-250 Apartments) - Winter 2017
NEW DOWNTOWN DEVELOPMENTS (Apartments):
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