The next big plan for residential development in Detroit has officially been unveiled with The District Detroit as the focal point.
Detroit Mayor Mike Duggan, Ilitch Holdings President and CEO Chris Ilitch and developers were on hand at the District Detroit Preview Center at Comerica Park this morning to announce that nearly 700 residential housing units are coming to the new sports and entertainment area in downtown Detroit. About 139 of those units will reportedly be affordable housing.
Ilitch referred to it as Detroit's largest single announcement of residential development in more than 20 years.
The 686 units will be created in six buildings, two will be new construction and the other four will be renovated historic structures in the city.
The buildings selected for rehabilitation are: The Alhambra, The American, The Eddystone and 150 Bagley.
"We're keeping the best of our history as we build the best of our future," said Mayor Duggan at the press conference.
Duggan says about $160 million has been invested in the project. Construction is reportedly set to begin on some of the properties this year.
Watch the full press conference below: