There's a new chance to live next door to (and inside) history in Detroit.
The just completed Piquette Flats, redeveloped by The Platform in partnership with Michigan State University, are right next door to the old Ford Piquette Plant — where the first Model T was created and produced.
The Piquette Flats themselves are in the old 108,000 square foot Studebaker Service Building, built in 1920. It's been mostly empty for about eight years, and used before for document storage.
The $40 million conversion created 71 studios, 87 one-bedroom and 3 two-bedroom apartments.
In order to make this project happen — as is common in the city of Detroit — it took multiple sources of financing:
- The City of Detroit kicked a 12-year, $3 million tax abatement and $2 million of Brownfield Tax Increment Financing.
- There was a $7 million low-interest loan from the Michigan Economic Development Corporation.
- Michigan State University is an investment partner, and funding from Flagstar Bank as the senior lender.
According to press materials, monthly rents for studios start at $1,115, one bedrooms at $1,319, and two bedrooms at $1,890.
Described as "workforce housing," all the units are priced below 100% AMI (Area Median Income - a measure of affordability indexed to the Detroit Metro region, as prescribed in federal guidelines) with approximately 40% of the units priced below 80% AMI.
Just a couple blocks from the Amsterdam QLINE station, nearby stuff includes Bucharest Grill, Z's Villa, and just across the tracks Milwaukee Caffe, Kiesling, Oak and Reel, Sepia Coffee, and other notable stops.
To me, a big key for its location is that it's rather close to the soon to be redeveloped Henry Ford Hospital — also happening also in partnership with MSU.
There are laundry rooms on every floor, and it seems like a lot of parking (nearly 200 spots).
I obviously haven't lived there, but I have some first impressions from my tour.
The fact there are only three two-bedroom units and so many studios — mixed with lounge rooms — gives this development a distinctly younger vibe. Maybe graduate medical students, engineers, or budding mortgage impresarios.
I'm in my 40s now, and trying to live in a studio again (unless I financially had to) just wouldn't be my vibe. One bedroom I could do, and two - far preferable.
I appreciate there's more than lip service to dog ownership.
If you're gonna be a dog-friendly building (and I'm a dog person) - having a spot for them to run is a big plus.
If you have a city pittie like myself (she's a speckled and freckled cuddle calf) you're going to be able to take your friend on some good walks.
From Piquette Flats, the coffee window at Milwaukee Caffe is a nice destination because you can go up to the window and you can get a latte in one hand while your leash is in the other.
Just across the freeway to the south is the stunning Cultural Center neighborhood that in spring, summer and fall bursts with color.
The energy is picking up on this street. Soon you'll have hundreds of new neighbors as the Fisher Body Plant rehab is underway, as well as the new headquarters for PBS Detroit down the street.
Robin Runyan
Would love to know what you think in the comments or send me a note - dailydetroit - at - gmail - dot - com.
If you want to know more, you can visit their website.
Until next time, remember that you are somebody... and I'll see you around Detroit.
-Jer
