Piquette Flats
411 Piquette Ave.
What does it look like?
The completed Piquette Flats. Photo credit: © Chris Burton Visuals
What's happening?
The former Studebaker Plant, located next to the historic Ford Piquette Plant, will be renovated into 161 apartments by The Platform, the developer responsible for recent work along the Woodward Avenue corridor. The Platform acquired the property in 2017 for $2.5 million and began construction in May 2023. The $38.2 million project received a $2 million increase to the $5 million performance-based loan granted in September 2022 from the Michigan Community Revitalization Program (MCRP), as well as $5 million in tax abatements and brownfield tax increment financing. It was completed in December 2024.
Sources: Urbanize Detroit, The Platform, City of Detroit, Detroit News
Developers: The Platform
Cost: $40 million
What are the property details?
| Parcel ID: | 01001800.003 |
|---|---|
| Taxpayer: | 411 PIQUETTE LLC |
| Taxpayer address: | 2937 E GRAND BLVD DETROIT MI 48202 |
| Dimensions: | 252 ft by 482.099 ft |
Where is it?
What kind of housing is it?
| Units: | 161 |
|---|---|
| For rent/sale: | To rent |
| Affordability: | Yes |
Updates
March 25, 2023: Incentives | Michigan Economic Development Corp.
411 Piquette, LLC was awarded a $5,000,000 Michigan Community Revitalization Program other economic assistance performance-based loan participation and the City of Detroit Brownfield Redevelopment Authority was awarded an Act 381 Work Plan with state capture valued at $882,821 to support the rehabilitation of a 108,000 square foot historic building containing 161 residential units. The project is anticipated to generate a total capital investment of $40,420,468.
November 15, 2022: Obsolete Property Rehabilitation Act certificate | State Tax Commisison
The State Tax Commission, at their November 15, 2022 meeting, considered and approved your application for an obsolete property rehabilitation project, in accordance with Public Act 146 of 2000, as amended. Enclosed is certificate number 3-22-0032, issued to 411 Piquette, LLC for the project located at 411 Piquette Street, City of Detroit, Wayne County.
A party aggrieved by the issuance, refusal to issue, revocation, transfer or modification of this exemption certificate may appeal a final decision of the State Tax Commission by filing a petition with the Michigan Tax Tribunal within 35 days. MCL 205.735a (6). More information on how to file a petition with the Michigan Tax Tribunal can be found at www.mich.gov/taxtrib or by calling (517) 335-9760.