Perennial Corktown Apartments
1611 Michigan Ave.
Chicago-based developer Oxford Capital Group, LLC is building a mixed-use development that will include 10 parcels cornering Michigan and Trumbull. The $93 million, 2.4-acre project will start with the development of 1511 Michigan Ave. – a 188 unit apartment building to include 12,452 square feet of retail space. Developers were approved for $5,882,898 in state brownfield tax credits in 2021 and were approved for a Commercial Rehabilitation Tax Act abatement of $10.6 million by the city. The project is subject to community engagement based upon Tier 1 requirements listed in Detroit's Community Benefits Ordinance. Based upon 60% area median income, about 10% of the units will be affordable.
Source: Oxford Capital Group, Michigan Economic Development Corp., Urbanize Detroit, City of Detroit
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Perennial Corktown Apartments rendering. Credit: Oxford Capital Group LLC