Rainer Court, a $4.5 million renovated 36-unit historic apartment complex, in Detroit’s Midtown district is scheduled to reopen in August. The market rate apartments at Third and Alexandrine are in walking distance of the Detroit Medical Center, Motor City Brewing Works, Shinola, Traffic Jam & Snug, and Union Street.
“This is our first development in Detroit. We’re excited to be down there and it’s been a lot of fun,” says Chris Potterpin, vice president of development for PK Housing & Management in Okemos, near East Lansing.
PK Housing purchased the building last March when it was barely “limping along” says Potterpin.
The company is in the process of completely restoring the 1921 structure at 711 W. Alexandrine, which has offered apartments since the beginning. The rehab was financed, in part, with historic tax credits available through the National Park Service and private investors.
Of the 36 apartments, 29 will be one-bedroom units and seven will be two-bedroom units and will include modern kitchens and bathrooms, wood floors, granite countertops, Santiago-style light fixtures, and new or renovated windows.
Potterpin says rent will start at about $800, with the average cost of a unit at $1,000 per month. In turn, the first floor will offer 18,00 square feet of retail space, but PK Housing has not yet identified a tenant.
Potterpin says the soft target opening date for the apartments is Aug. 1, before Wayne State University classes begin. Pre-leasing is expected to begin around April 1. For more information, visit rainercourt.com/