DETROIT – A $108 million business deal is expected to transform a Lafayette Park neighborhood.
The deal was announced Monday in a statement from the mayor's office.
A vacant building off I-375 has stood vacant for years, but it looks as if that could change. It once served as a college dorm, but has since been boarded up. The owner promised changes a few years ago, but nothing happened.
Amin Irving purchased the building Thursday. He's planing to knock it down, which will give him 5 acres of possibility. The plan is to put in 374 living residential units.
"We're looking to have condos, for-sale condos," said Irving. "We're also looking to have a high-rise and we're also looking to have mid-rise apartments."
It's great news for the neighborhood. Margaret Williamson moved into the nearby Shatterfort Place Apartments a decade ago and received a notice from the city last week of the new development planned.
"I was just excited to hear about the new plans," Williamson said. "It would be nice to have that project finished."
Irving is open to the city's community benefits policy and the 51% Detroiter requirements for employment. He's also on board with the mayor's idea of having a 20-minute neighborhood in which everything is accessible within a 20-minute walk.
"I'm thrilled with all the optimism that the city and mayor has put together," Irving said. "To be a part of that energy is just really exciting."