Olympia Development of Michigan, LLC, a Detroit-based full-service real estate company, announced the details of its retail and office development project in more than 200,000 square feet of land in the Woodward Square Neighborhood in the District Detroit area.
"The District Detroit will be a vibrant, world-class sports and entertainment destination, and it will also bring significant new retail, residential and office spaces to the heart of Detroit. We're focusing on creating a uniquely Detroit experience featuring a mix of local and national entrepreneurs, chefs, restaurants and retail concepts," said Steve Marquardt, vice president of Olympia Development of Michigan. "Less than 20 months from now, new offices, retails and restaurants will flourish on long underutilized sections of Woodward and Henry, as these buildings open along with the new Detroit Events Center."
According to the press release of Olympia Development in PR NewsWire, the planned four-storey building in the Woodward Square Neighborhood will feature more than 55,000 square feet of retail space and more than 160,000 square feet of office space that will be occupied by Detroit Red Wings, Olympia Entertainment, offices, retail stores, and restaurants.
"Our ongoing conversations with retailers, prospective office tenants and residential developers have been extremely positive," said Marquardt. "The District Detroit is coming to life and bringing opportunity and investment to our city."
The construction of the new office and retail development project of Olympia Development has begun along with the construction of the new Detroit Events Center, which is expected to be completed and open to the public in 2017.
Plante Moran CRESA was selected by Olympia Development of Michigan to be its real estate partner. CBRE will take the role of the project's retail leasing consultant, while Ventra, LLC was chosen to be the project's residential development consultant.
The District Detroit is comprised of 50 blocks of thriving businesses, parks, restaurants, bars and event destinations that will connect Downtown and Midtown into one contiguous, walkable area. District Detroit will also house the Detroit Red Wings, the Detroit Tigers, and the Detroit Lions.
