Broadway Street holds the legacy of Detroit’s Paradise Valley, a neighborhood once thriving with Black-owned businesses and vibrant jazz clubs. This area, rich with history, is now at the center of a significant transformation as Bedrock LLC, the Detroit-based real estate firm owned by Dan Gilbert, moves forward with a pivotal project. The Belle, a $40.7 million residential and commercial development, was announced Thursday as the latest step in revitalizing the historic Harvard Square building.
Bedrock CEO Kofi Bonner emphasized the importance of the area’s cultural significance in a news release: “The legendary Paradise Valley has always been a staple of Detroit’s entertainment scene. Bedrock’s meticulous restoration of The Belle complements development efforts to bring modern and affordable living amenities to the Broadway Corridor.”
The Belle will include 42 residential units and 8,000 square feet of commercial space, offering a mix of studio, one-bedroom, and two-bedroom apartments. According to city documents, rents will range from $1,376 to $3,159 per month. Twenty percent of the units will be designated for residents earning 80% of the area median income, which is $53,760 for Wayne County. This mix of affordability and modern amenities signals an attempt to create inclusivity in a rapidly changing downtown landscape.
Bedrock’s plans for the redevelopment include extensive renovations to the 1925 Harvard Square building, which has long stood vacant. The scope of work will include replacing windows, restoring the façade, addressing lead and asbestos remediation, and upgrading major systems such as plumbing, electrical, and mechanical infrastructure. These updates aim to preserve the historical integrity of the building while making it suitable for modern living and commercial use.
In 2022, the project received $5 million in public funding through a $13.74 million state grant awarded to the Downtown Detroit Partnership. Bedrock is also seeking an Obsolete Property Rehabilitation Act (OPRA) tax abatement valued at just under $4.2 million, which was discussed before a Detroit City Council committee on Thursday. Additional funding sources include $23 million in equity from a Bedrock affiliate and $7.5 million in debt financing, according to city documents.
Hiram E. Jackson, CEO of Real Times Media and publisher of the Michigan Chronicle, expressed optimism about the project and its impact on the surrounding area. “I am grateful for the investment Bedrock is making with The Belle development. As not only the managing partner of Paradise Valley Real Estate Holdings, which owns 1452 Randolph St., but also as the CEO of Real Times Media and publisher of the Michigan Chronicle, which has proudly called the area home since 2017, I am thrilled to witness the continued growth and revitalization of the Paradise Valley Cultural and Entertainment District,” said Jackson. “Bedrock’s support has been instrumental in driving the district’s transformation and helping it become one of the top cultural destinations in the city.”
The development is expected to be completed by 2026. The Belle’s construction will coincide with the Reckmeyer Residences, an adjacent project by Detroit-based Basco of Michigan, which will add 80 residential units to the area. Together, these projects are reshaping a long-vacant stretch of Detroit’s central business district, bringing life back to a neighborhood that holds deep historical and cultural significance.
The Paradise Valley Cultural and Entertainment District has long been a cornerstone of Detroit’s Black history. During its heyday, it was a bustling hub of Black-owned businesses, entertainment venues, and community gathering spaces. Many Detroiters hope this revitalization effort will honor that legacy while addressing contemporary challenges like affordable housing and equitable development.
The announcement of The Belle comes amid ongoing discussions about how Detroit’s resurgence impacts longtime residents. Public investment and tax incentives often spark debates about whether revitalization benefits all Detroiters or primarily serves new arrivals and large-scale developers. As Bedrock moves forward with its plans, many will be watching closely to ensure the project aligns with the needs of the broader community.
Detroit’s Paradise Valley stands at the intersection of past and present, offering an opportunity to reflect on the history of Black entrepreneurship and cultural vibrancy while envisioning a future that is inclusive and sustainable. With projects like The Belle, the challenge lies in creating progress that uplifts the community, rather than leaving it behind.
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