(WXYZ) — The $75 million project to develop the former United Artists Building in Downtown Detroit kicked off with a groundbreaking event on Thursday morning.
Detroit Mayor Mike Duggan, Council President Mary Sheffield, Chris Ilich and leaders from the Bagley Development Group gathered at a groundbreaking.
The plan is to turn the building into the Residences @ 150 Bagley, and will turn the nearly 100-year-old building into 148 apartments. The City of Detroit said 20% of the apartments will be reserved as affordable housing at 80% of the area's median income.
According to the city, there will also be 10,000 square feet of retail and dining space along Bagley St., and it's expected to open later next year.
"My partners and I are honored to develop Residences @150 Bagley in such a vibrant, downtown community," said Emmett Moten with Balgley Development Group said. “Residences @ 150 Bagley represents the perfect model for urban development, with the public and private sectors working collectively to benefit the community.
“For nearly half a century, the United Artists Building has been one of our city’s iconic images of blight and abandonment,” Mayor Duggan said. “Today, just like we are doing with Michigan Central Station, Fisher Body 21, Lee Plaza and others, we are giving the United Artists Building new life, and turning blight into beauty."