A local real estate company broke ground on a new mixed-use development on the historic Tiger Stadium site.
The project, called “The Corner,” will include 111 apartment units and about 26,000 square feet of retail space.
Eric Larsen is the president and CEO of the Larsen Realty Group. He says 60 percent of the retail space will be rented at discounted rental rates.
“In order to do that we needed to work with our community and investment partners like Invest Detroit and the City of Detroit,” Larsen says. “And obviously all of the source lenders that have brought new market tax credits to the deal, so that we can really make sure that the ability to deliver this space – which is very high-quality space and a great location—was affordable.
Larsen says the project is also launching a crowd-funding campaign later this month, where Detroiters can purchase and own a share of the development.
He says The Corner is scheduled to open in early 2019.