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November 12, 2004 - Image 41

Resource type:
Text
Publication:
The Detroit Jewish News, 2004-11-12

Disclaimer: Computer generated plain text may have errors. Read more about this.

ovations that will be performed by Sachse
Construction.
The lobby will be gutted and reborn in two-story
grandeur. Both the Old Woodward and South
Woodward facades will be totally redone. And, most
importantly, the former apartments on the upper six
floors have been converted to condos, priced from
$195,000 up to $1 million. Most of the 159 condos
are in the $400,000 range, and that's what clearly sets
them apart from the local competition.
"The condo market in downtown Birmingham has
been awful," says Todd Sachse of Broder & Sachse.
"Many of them are priced from $1.5 million up to $4
million and have not sold. There are just not that
Artist's renderings of Birmingham Place, above, and lobby, opposite page.
many people who are willing and able to put out that
kind of money for a condo.
"But there are a lot of people who do want to live in
proposition and, as a result, we are selling units at a
create spaces up to 4,500 square feet.
downtown Birmingham," he said. "And they're com-
brisk pace."
"We can do things you can't do when you are build-
mitting to plunking down $380,000 for a 2-bedroom
The office space is already 100 percent leased and
ing six or 12 condos. It's all in economy of scale," says
condominium in a downtown setting."
deals
are in the closing stage for the retail space, says
Sachse.
Although the official grand opening was Oct. 2,
Sachse. According to project manager Kim Burgess,
Among the amenities are concierge service, valet
word-of-mouth helped the developers sell 50 units,
retail tenants at Birmingham Place will include Avalon
parking, and three levels of parking — one subter-
valued at $25 million, with a dozen or more additional ranean.
Salon and Day Spa. Prudential Cranbrook Realty is
units on reserve.
among the commercial tenants.
"We're offering location, luxury and lifestyle," says
The units range from 600 to 2,700 square feet.
Christopher Enright is the architect for the renova-
Jerry Reinhart of Pomeroy Reinhart Stration. "Our
Sachse says some buyers are even combining units to
tions and Wendy Silverman is overseeing the design. O
prospective purchasers understand that and the value

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41

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