Detroit Mayor Mike Duggan and East Jefferson Development Co. today announced a $60 million ground-up, mixed-use development located in Detroit’s East Jefferson Corridor that will include more than 200 residential units and a small-format Meijer grocery store on East Jefferson Avenue.
Capitalizing on currently vacant real estate, the new project will offer approximately 220,000 square feet of commercial space along with 120 retail parking spaces and 221 underground residential parking spaces.
According to the recently released Greater Downtown Residential Market Study, there isa combined demand for 10,000 residential housing units in Lafayette Park and Rivertown.
“This beautiful new development is going to help us meet two critical needs in our city,” says Duggan. “First, the residential development will help us meet the increasing demand for new housing while adding more affordable units in a very popular area of the city. Second, the new Meijer’s market will give east side Detroiters who may currently leave the city to get their groceries another option to keep their dollars in Detroit.”
Detroit-based East Jefferson Development Co. also plans to make capital improvements to a park adjacent to the space, as requested by the neighborhood association. The development will respect the architecture of the surrounding historic districts, including buildings designed by Albert Kahn, Gunnar Birkerts, Mies Van der Rohe, and others.
“I was born and raised in Detroit and only moved out of the city to attend the University of Michigan,” says Dennis Archer Jr., principal at East Jefferson Development that is part of the project. “I aspired in my twenties to be a contributor to Detroit’s business community and I am proud to be doing so, just blocks away from my childhood home.
My partners and I are pleased to play a small role in Detroit’s story, providing much needed housing and grocery retail to this amazing neighborhood.”
A major part of the development will be the inclusion of a Grand Rapids-based Meijer, which will provide fresh food and a full shopping experience for the community. Meijer has plans to create a small-format fresh grocery market which will create 70 jobs and serve the residents and local community.
Meijer and East Jefferson Development are committed to hiring as many local workers as possible, and construction will generate up to 100 full-time positions and 250-400 indirect positions created for the manufacturing of materials during development.
The development was made possible in part by the New Market Tax Credit, TIF, and CRA, which will close the funding gap. A development agreement is expected to be presented to Detroit City County for approval in the next two weeks.