Larson Realty Group and a team of construction firms and architects have been selected by the Economic Development Corporation (EDC) of Detroit to develop the Michigan and Trumbull blocks of the historic Tiger Stadium site.
Artist renderings were also released showing the $33 million project including a four-story building along Michigan with approximately 30,000 sq. ft. of retail and 102 residential units. 24 town homes along Trumbull are also planned to be available for sale. Officials say 20% of the units will be affordable housing.READ MORE: 133,000 People Remain Under Boil Water Advisory In Michigan, Could Take Weeks Before Water Is Safe To Drink
The Tiger Stadium Partners team includes Larson Realty Group, Jenkins Construction, Heritage Development, Rossetti Architects, Stokas Bieri Real Estate, University of Michigan Sports Management, The Pauls Corporation, Fundrise and Popularize.
The project will involve the community in the following ways: a crowd financing program will allow many individuals to become investors in the project, working with Hatch Detroit and the EDC’s existing Commercial Corridor Revitalization program to promote new business. Half of the retail space will be made available at a reduced rate for local entrepreneurs. In addition to existing neighborhood meetings, RevivetheCorner.com will be a place to provide feedback on the project.
“The decisions made today preserve the history of Tiger Stadium while at the same time providing for the future of the Corktown neighborhood, two historical sites important not only to our city but the region as well,” said Rodrick Miller, president and chief executive officer, Detroit Economic Growth Corporation.READ MORE: Salvation Army Collecting Supplies For Back To School Drive
“We recognize the importance of diversity and local participation and are proactively looking to expand opportunities for Detroit-based companies and individuals,” said Eric Larson, president/CEO, Larson Realty Group.
The EDC also approved a plan for Detroit Police Athletic League (Detroit PAL) and The Old Tiger Stadium Conservancy (OTSC) to develop the historic Tiger Stadium site along Cochrane Street, including the playing field.
The restored baseball field will also get a gated entryway, ticket booth, historic memorabilia, lights, scoreboard, covered dugouts, homerun fence, seating for 2,500 spectators, covered pavilion and locker rooms. Designs were created by Pendulum Studios out of Kansas City, MO. Detroit PAL will also construct their headquarters outside the field.MORE NEWS: Detroit Police Searching For Multiple Carjacking Suspects
The total cost of the project is approximately $11 million. $3 million of the $3.8 million federal earmark will be used. The balance will be raised through grants fundraising.