FD Lofts almost fully-occupied by mixed-use tenants

Twenty five of the 27 completed units at the FD Lofts in Eastern Market are currently leased. The building will ultimately feature 30 units when construction on the last three wraps up in November.

Developer Bob Heide is proud of his mix of tenants. Five of the building's units are used solely for business, five for live-work spaces and the rest for residential. The immediately-available units are two of five that have been designed as office or studio space and share a common bathroom.

Heide's goal is to go condo with the development after the five-year historic tax credit abatement period expires. He offers tenants first dibs on their unit and $100 credit for each month they live in the building. "If they've lived here five years, that's 60 months (and) $6,000 off the sales price," he says. "The vast majority of current tenants have expressed interest in purchasing their unit when they are able."

That level of commitment to the building has resulted in many of the tenants signing multi-year leases. "We're looking for good, quality, longterm tenants," Heide says.

Heide attributes the success of the FD Lofts to planned improvements to Eastern Market's infrastructure, as well as its retail and restaurant offerings. "It's an up-and-coming area of the city, a walkable portion of the city," he says.

Rent ranges from $1,000 to $1,500 per month. The three residential units that will be available in November as well as the two available office/studio spaces are available for viewings by appointment. Contact Heide at 313-832-3000.

Source: Bob Heide, Urban Life Development
Writer: Kelli B. Kavanaugh