The latest addition to Detroit's skyline is starting to welcome residents. Officials gathered today to officially open the Residences at Water Square, on the site of the old Joe Louis Arena.
The 25-story glass residential tower was built in two years, on time and on budget, and adds 496 new apartments to downtown Detroit. The development used no tax breaks, a rarity in Detroit.
These apartments are on the higher end of pricing. Looking at current availability, starting on floor 10, a studio starts at $2,275 and a one-bedroom starts at $2,925. Some of the higher floors have one-bedrooms going for $4,700 per month.
The 25th floor roof deck gives us a new skyline view.
Mayor Mike Duggan remarked on how far the city has come in the past 10 years, and how this, along with projects like the Exchange, Huntington Tower, and the new Hudson's tower are changing the skyline.
The site along the Riverfront was home to the Joe Louis Arena for decades. In 2014, the land was given to a creditor after Detroit's bankruptcy. Detroit-based Sterling Group bought the site in 2021 and broke ground on this project in February of 2022.
“We are ready to welcome our first residents to their new homes” said Danny Samson, Chief Development Officer of Sterling Group. “This is a new standard for downtown and riverfront living in Detroit. Our goal was to create something that didn’t exist in this market until now. Every design choice we made, every amenity we added was about giving our residents a truly unique living experience.”
Amenities include the roof deck, a pool on the second level, 10-foot floor-to-ceiling windows, a dog wash, valet, and retailers opening soon. Additional photos can be seen in the gallery at the top of the page.
Residents on the east side have great downtown views, and they'll also have a front seat to the next construction on the site - Hotel Water Square - which should break ground later this year.