Friday, April 08, 2005

Twenty-six acres of prime Detroit riverfront to be redeveloped

Detroit-area developers will soon be scrambling to get their hands on a newly-issued parcel of riverfront property located on Detroit's west side.

The site, which is currently owned by Detroit Newspapers, has announced that it will close its printing plant - the area's only tenant - and plans to put the 1.5 miles up for sale shortly after that.

The current landowner, whose companies include both of Detroit's major daily newspapers, has hired a Southfield-based real estate firm to act as the broker in the sale.

According to
this April 5 article in the Detroit Free Press, city leaders are pushing to have the area transformed from its current industrial state into a modern one which will include a mixture of new housing, parks, and retail establishments.

The 2100-acre area is prime real estate in downtown Detroit and will become part of the urban area's new RiverWalk, a stretch of land running along Detroit's shoreline from Belle Isle's MacArthur Bridge to the Ambassador Bridge, the International byway between Detroit and Windsor.

The RiverWalk is set to be turned into a walkable path designed to draw Detroiters to the city's largest asset, its river, as well as to provide a place for relaxation and enjoyment. Phase One of the project, which is currently underway, targets the eastern end of the riverfront, between the MacArthur Bride and Joe Louis Arena. Phase Two of the RiverWalk encompasses the area between Joe Louis and the Ambassador Bridge.

Visit the
Detroit Riverfront Conservancy's website for further information and updates on the RiverWalk.