With the Detroit City Council’s approved brown-field credits for the Ashton, a $58 million brand new 14-story luxury condo development complex located on the west end of downtown Detroit, The Ashton will be the first free-standing high rise complex built in Detroit in more than 20 years.
To be built on a parking lot adjacent to WDIV TV-4, the 103-unit new construction project will be developed by 600 Ventures Development Group, a partnership of Eric Means and Brian Holdwick.
“I am grateful to the council for their decision,” said Means, CEO of Means Group, a Detroit-based development, construction and facility management firm. “This is a huge win for the city. To set the stage for continued growth, the city needs homeownership and this project brings a high-quality residential product that people want to own.”
“Based on cost-to-build, projects of this nature have not previously been cost-effective,” Means continued.Brownfield credits are used to help incentivize developers to invest in dilapidated buildings, and areas that have remained vacant for a while. They are allocated to projects that require costly land remediation, infrastructure improvements and demolition.
The $35 million, 11-story development is slated to begin construction in 2018 and will located at 600 W. Lafayette. The site is most famously recognized as the former home of local CBS affiliate WWJ TV-62 and Michigan AFSCME Council 25. The Ashton Detroit will have the latest in luxury living with high end finishes, a pool, a fitness center, retail space and enclosed parking. The existing building will be upgraded to Class A office space.
“We are pleased to have the opportunity to bring more living space to downtown Detroit,” said Means, lead developer for the project. “This historic project will build upon the legacy of the former home of WWJ and Michigan AFSCME Council 25 by retaining the historic architecture. Our goal is to create exciting living spaces adjacent to the existing structure that will offer spectacular views of downtown, the Ambassador Bridge and the Detroit River.”
Means has more than 18 years of experience in all facets of the industry. His company and its affiliates have successfully produced several multimillion dollar projects over the years. He is currently leading the effort to restore the famous Metropolitan Building in downtown Detroit.
Brian Holdwick specializes in real estate development. Previously he spent 22 years as executive vice president of Real Estate & Financial Services of the Detroit Economic Growth Corporation. His vast experience with downtown Detroit developments is known throughout the area.
The Ashton Detroit will house 78 condominiums and five pent-houses. The units will have floor-to-ceiling glazing to capture Detroit’s unique urban landscape. The first three levels of the new 11 story building will house 200 parking spots for both the commercial and residential tenants of Ashton Detroit. The first permanent residents are expected to move in 2018. For more info and renderings, go to www.ashtondetroit.com and prospective buyers email info@ash-tondetroit.com.
The state-of-the-art building will include floor to ceiling windows will allow for views of the Detroit River and the city skyline. Units range from 700 to 2,500 sq.ft.
In addition to the Ashton Condo Complex, the Means Group recently broke ground on the historic Metropolitan Building which it is developing into an extended-stay hotel concept. A few of the firm’s other projects include down-town’s newest Flagstar Bank, the Great Lakes Coffee Company and the four-phased Woodard Garden Block, inclusive of a 300-car enclosed parking structure, a commercial development, the restoration of the historic 32,000 sq. ft. Garden Theater and a five-story apartment complex.
The project, which will be completed in mid-2019, is now accepting reservations. For more information, visit www.ashtondetroit.com.
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