Los Angeles-based MRK Partners Inc. has completed the in-place rehabilitation of Cathedral Tower Apartments, a 236-unit affordable multifamily property in midtown Detroit.
The project was a partnership between MRK, Fortus Partners and Bedrock in Detroit, JLL Real Estate Capital, Freddie Mac, R4 Capital, and Sterling Bank.
Construction of the project began in early 2020 and included new kitchen cabinets, countertops, and plumbing fixtures, stainless steel energy-efficient appliances, new flooring, PTAC heating and cooling systems, energy-efficient lighting, updated window systems, modern tub surrounds, as well as updated vanity and bath accessories.
The rehab also included updates to the leasing office and community spaces such as the fitness center and community room with a view of the Detroit city skyline.
“It was important for us to preserve the 236 units of housing in the midst of the redevelopment of the downtown area,” says Sydne Garchik, developer and owner of Cathedral Tower Apartments. “Access to transit, jobs, and everything the city has to offer is critical for the residents of this community.”
Cathedral Tower Apartments offers studio and one-bedroom apartments for individuals earning between 40 percent and 80 percent of the area median income. The 115,495-square-foot building is located at 80 East Hancock St. in midtown Detroit.
“We knew Cathedral was a special project that deserved a world-class team,” says Jordan Friedman, founder and managing partner of Fortus Partners. “Our focus was to produce a thoughtful, community-driven development in the heart of midtown. We are proud to partner with MRK and look forward to many more.”
The Cathedral Tower project was financed with the support of the Michigan State Housing Development Authority (MSHDA), JLL Real Estate Capital/ Freddie Mac, and Bedrock. Also contributing to the project was the City of Detroit Housing and Revitalization Department.