Officials from the City of Detroit, Detroit Economic Growth Corporation (DEGC) and additional stakeholders today announced the redevelopment of the historic Stone Soap building. The redevelopment is the key first step in implementation of the East Riverfront Framework launched in spring 2017.
Detroit-based developer Banyan Investments will take on the $27 million project, redeveloping the historic building into a new mixed-use structure that will renovate existing structures and include new construction, adding three to six additional stories on top of the building.
“Banyan has been active in Detroit’s neighborhoods for 5 years. To date, we’ve restored more than 110 homes in various neighborhoods and developed several historic buildings and brought them back into use,” said Aamir Farooqi, Chairman and CEO of Banyan Investments. “These include the old bank building at the corner of Kercheval and Van Dyke, the mixed use building at 1400 Van Dyke and the historic Saint Charles School in Detroit’s West Village and Island View neighborhoods.”
There will be 63 new residential units, including condominiums and rental units, 20 percent of them reserved as affordable housing for residents making 80 percent of the area median income, or about $38,000 a year. The project also includes new retail space and new, permanent performance space for Shakespeare in Detroit, a locally based company performing Shakespeare’s works across the city.
“The riverfront belongs to everybody, and the redevelopment of the Stone Soap building is a big piece of how we are making it a walkable, enjoyable amenity for all Detroiters” said Mayor Mike Duggan. “It’s also another important piece of our city’s history that is being brought back to life.”
The Stone Soap building has sat vacant for at least 20 years. The first two structures in the industrial complex were built in 1907 and a three-story addition followed in the late 1920s. The building was home to a number of industrial companies before being purchased by the Stone Soap Company in the late 1970s. Stone Soap, a manufacturer of commercial detergents for laundries, restaurants and car washes, occupied the building until the late 1990s.
“This new project continues the momentum created by years of investment from DEGC and our partners in public space and infrastructure,” said Moddie Turay, Executive Vice President of Real Estate at the DEGC. “Demand for more housing and retail amenities in the East Riverfront District has clearly been demonstrated by the successful openings of recent projects.”
Ensuring affordability
The development will feature 33 rental apartments in the renovated original structures, built in the early 1900s, and 30 condominiums that will be newly constructed. The building will include one, two and three bedroom units. Twenty percent of the total units, 13 apartments, will be dedicated to affordable housing, targeted to people earning 80 percent of the area median income. The number of affordable units meets the minimum 20 percent threshold required by the city’s Affordable Housing Ordinance, and is reflective of Mayor Mike Duggan and Banyan Investments’ shared commitment to create a Riverfront for all Detroiters.
Redevelopment features European-style market, other amenities.
More than 13,000 square feet of retail will be included in the project, as well. The commercial space will be built in a European style, open market concept with retail, food and beverage space for residents and the visitors to the riverfront, similar to markets seen in several large cities like Denver’s Union Station and Atlanta’s Ponce City Market. The developer will also build the city’s first parking carousal within an enclosed space. This technology is used extensively in New York and other dense urban cities, providing an innovative and space-saving solution to the parking needs of residents and visitors.
The Stone Soap complex will also include a gym, pool, rooftop gardens, storage, and bike stations for residents.
For Stone Soap, Frank Arvan, Banyan’s Director of Design, commissioned VolumeOne Design Studio and worked closely with principals Lars Gräbner and Christina Hansen to develop the transformation of the complex, which creates an exciting iconic modern addition that connects to Detroit’s industrial past.
Commitment to Detroit’s arts/culture community
Additionally, the developer will create a new public performing arts space, which will be the new home base for the Shakespeare in Detroit (SiD) theater company. SiD is a non-profit organization that produces exciting, live productions of Shakespeare’s works in various locations throughout the city. Until now, the group has done so without a home base for these productions. Now, at no cost to SiD, they will have a permanent space for their operations and performances, bringing one of Detroit’s greatest arts and culture assets to the East Riverfront.
“As someone who was born and raised in Detroit, I couldn’t be more thrilled to finally have a home in one of my favorite places in my hometown, the East Riverfront, for the work that our young arts organization has been doing the past five seasons,” said Sam White, Founding Artistic and Executive Director of Shakespeare in Detroit. “We are grateful to Banyan for the resource to sustain our work and truly make an impact in the city with our community building performances that give access to the arts for all.”
Creating a riverfront for all
The Stone Soap redevelopment is part of the city’s larger East Riverfront framework plan, designed to return the riverfront back to the citizens of Detroit. Under the plan, the East Riverfront area will continue to be transformed from a former blighted, industrial area into a vibrant waterfront for all Detroiters. The boundaries of the East Riverfront district are St. Antoine to the west, East Grand Boulevard to the east, Larned Street to the north and the Detroit River to the south.
The framework will expand the RiverWalk to the east, connecting it to the MacArthur Bridge and Belle Isle, preserve nearly eight acres of land for public parks, improve safety and walkability for Detroiters along East Jefferson. The framework also includes plans for two new Dequindre Cut-style greenways, connecting the neighborhoods to the north of the riverfront to the amenities like those in renovated historic buildings like the Stone Soap, the first to be redeveloped as part of the plan. The framework was created after several months of extensive residential and stakeholder engagement, which included community meetings, neighborhood walks and district tours that were attended by the general public.
The project is expected to break ground in spring 2018 following City Council approval and completion of the project expected by fall 2020.
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