Soap building will be redeveloped by Detroit-based developer Banyan Investments
DETROIT – A $27 million project marks a key step in efforts to redevelop the eastern portion of the Detroit riverfront.
The city of Detroit announced Wednesday that the vacant Stone Soap building will be redeveloped by Detroit-based developer Banyan Investments. Plans call for it to be turned into a mixed-use site with three to six additional stories on top of the building.
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The project will include 63 new condominiums and residential rental units, including some earmarked as affordable housing.
The project also includes new retail space and new, permanent performance space for the group Shakespeare in Detroit.
The area along the Detroit River is being transformed for residential, business and recreation use from blighted, formerly industrial property. New developments are expected to house thousands of people.
Copyright 2017 by WDIV ClickOnDetroit. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Ken Haddad has been with Local 4/ClickOnDetroit since 2013. He helps lead news coverage and content across broadcast and digital platforms. He's from the Metro Detroit area, and loves covering important news (and sports) in his hometown.
