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. Rent for the studio, one-bedroom and two-bedroom units will range between 60-120% of area median income, and amenities will include a fitness center and community rooms. 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 is expected to open in 2024.

Sources: Urbanize Detroit, The Platform, City of Detroit, Detroit News