A large downtown building project will commence soon when Midtown Detroit Inc. breaks ground on a 30,000-square-foot commercial building on Woodward Avenue and West Willis Street. The anchor tenant for the commercial property will be Lawrence Technological University.
This development is being funded by a variety of Midtown Detroit merchants and partners. Among the supporters are the Community Foundation for Southeast Michigan, NCB Capital Impact and the Michigan Economic Development Corp. The building will house a consolidation of the existing LTU programs of Architecture and Design along with office space for other groups, organizations and companies, many of whom were involved in the building’s planning and construction.
Along with the school’s facilities, Invest Detroit will also have offices in the building along with Quinn Evans, the building’s architects. The building was constructed in part with a $300,000 grant from the Kresge Foundation. LTU hopes that its new location will spur partnership and growth that can assist in revitalizing the downtown area. The center will house Detroit Studio, which provides design support for neighborhood projects in Detroit; DetroitSHOP, an urban design studio; and Studio Couture, exhibiting the work of LTU students and professional artists.
Whenever a large commercial property project is planned, it is usually wise to seek professional legal advice regarding contracts, closings and other issues related to the project. A commercial real estate attorney may be able to assist those who are facing complicated property transactions or disputes over contracts. With the help of a commercial real estate attorney, property transfers, building projects and other real estate transaction may be concluded more efficiently and smoothly.
Source: CBS, “Lawrence Tech To Become Anchor Tenant Of New Midtown Building“, Matt Roush, December 15, 2013