Eastern Market's Detroit Candy Co. 4-unit building ready for occupancy Aug. 1

The 4-unit Detroit Candy Co. Building on Gratiot at Jay is in the process of securing final inspections; first move-ins are expected on August 1.

The first-floor unit includes the basement. It is 1,800-square feet and will rent for $1,400 per month. The other three 1,500-square feet units each occupy an entire floor, have private elevator access and will rent for $1,300 per month. All units feature poured concrete counters and custom cabinetry as well as stainless steel appliances.

Developer Ryan Cooley of O'Connor Real Estate and Development says he has already been receiving two to three calls each week on the building without the benefit of advertising. He attributes the interest to the building's location. "Eastern Market has one of the best potentials for urban landscape residential living," Cooley says. He believes the planned upgrades to the market, spearheaded by Eastern Market Corporation, will only increase that potential. "It will be that much more attractive. I think we're a little early where we're at, but I certainly think we're getting close," he says. "Interest is picking up instead of people just talking about potential."

Cooley and his partners plan to convert the buildings to condominiums in five years, as soon as state and federal historic tax credits regulations allow.

Source: Ryan Cooley, O'Connor Real Estate and Development
Writer: Kelli B. Kavanaugh