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Slicing construction timeline, Greektown residential tower envisioned in 16 months

Signature Associates is excited to be a part of this new development, for more information click here to see our listing.

It was only in June that news was first revealed about a 16-story residential tower planned for Detroit’s Greektown neighborhood, the first new residential units in that area in decades.

Now construction of the $64.6 million building — $45 million in construction costs and the rest in soft costs — is expected to begin next month, with completion by July 2022. (You’ll start to see fencing and scrims in the next couple weeks, FYI.)

That’s a very ambitious construction timeframe, but here’s why Southfield-based developer LiftBuild says it’s possible: It’s reorganizing the construction process.

“We bring components to the site just in time to assemble them at ground level, and then lift them into place. Hence: LiftBuild,” Marissa Varga, senior director of LiftBuild, a division of Southfield-based general contractor Barton Malow Co., told me in an interview Wednesday afternoon.

“Ultimately, that is the efficiency. You’re building the floorplate at grade level, lifting them into place and as they are secured, you can activate those fully enclosed floorplates. At the top, that allows trades to go up and work from the top down, so they can start building out the top floor while the building is still being constructed.”

Generally, a project of that size would take about 24 months.

Overall, the project is envisioned to have 165 residential units, with 12 condos on the top floors. The building would top out at 207 feet on five parcels recently acquired totaling about a half-acre.

“In April, you’ll start seeing earthwork there,” Varga said.

The developer is Gratiot Acquisition Partners LLC, an entity connected to LiftBuild.

The site sits near the planned $750 million redevelopment of the 15-acre former Wayne County Consolidated Jail site at Gratiot Avenue and I-375. That site is now expected to become a University of Michigan graduate school initiative called the Detroit Center for Innovation in a collaboration between billionaires Dan Gilbert and Stephen Ross, plus the Ann Arbor university. It would be for students in subjects such as mobility, AI, sustainability, cybersecurity, financial technology and other fields.


Posted By: Crain’s Detroit Business on February 24, 2021.  For more information, please click here to read the source article.

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