Saturday, December 24, 2005

Luxury Condos planned for Lafayette Building

Last week, R. Donahue Peebles announced plans to turn the vacant Lafayette Building in downtown Detroit into 125 luxury condominiums.

The December 16 issue of the Detroit Free Press states that Donahue, a Florida real estate developer, "is close to moving ahead" with the $40 million conversion deal.

Peebles plans to fill up the first floor of the 1924 building with retail; the remaining 13 floors will be a mix of one- and two-bedroom condominium units. Prices will reportedly start at $400,000.

Have a question or comment on this post?