Olympia looks for co-developers for 3 unfinished properties

Could we see some movement on a few unfinished developments in the District Detroit? We could, if Olympia can find some co-developers for them. Yesterday, Olympia Development released a Request for Proposals (RFP) for a new co-developer program set for two downtown and one Cass Corridor property.

The first (above) is 81 W. Columbia Street, the Blenheim Apartments, designed by Baxter and O’Dell and dating back to 1909. The 17,500-square-foot site has 19 apartments, a red exterior, and has been boarded up for quite a while. It sits behind the new Little Caesars Headquarters and along the busy pedestrian-only Columbia Street.

The second is a pretty intriguing opportunity. Sitting along Grand Circus Park, the seven-story facade of the Fine Arts Building stands amongst other historic buildings on the block. But it's just a facade. The Fine Arts Building was designed architect Louis Kamper in 1905. The site has two parcels, including the empty lot next door. 

The next site sits across from the popular Detroit Shipping Company on Peterboro. The three-story Woodstock Apartments have 71 apartments between them and they date back to 1914.

Olympia Development has a long history of not finishing announced projects. In the last few years, they've been working with Related Companies on a series of 10 buildings (new and rehabbed) throughout the District Detroit. Work was supposed to start last summer but is still delayed. This program is part of the Community Benefits Agreement from this development.

“The Olympia Development Co-Developer Program is a significant example of the diversity and inclusion that is a result of The District Detroit Community Benefits Agreement. This program will provide immense opportunity to emerging and disadvantaged Detroit-based developers and bring new life to key properties in the City,” said Chris Jackson, Chair of The District Detroit Neighborhood Advisory Committee. 

Interested developers can look into the process here, which includes a qualification process.