Forest Arms Apartments to get new lease on life: Developer buys Midtown property

Tuesday, February 17, 2009
After a tragic fire decimated the Forest Arms Apartments last year, one could be forgiven for assuming that its future held nothing but a wrecking ball. Luckily, Midtown developer Scott Lowell has purchased the building and plans to completely rehab it.

The five-story building, located at Second and Forest, has 74 small residential units, all one-bedrooms and studios. "There's a market for that," says Lowell.

He should know, as he has already tackled the Blackstone Apartments and is wrapping up work on the Beethoven, which should see tenants this spring.

Lowell is partnering with the University Cultural Center Association and Corey Leon on the project. He says an "optimistic" estimate on construction is two years. The building will receive a new roof, an improved facade and solar hot water panels. The two walk-down spaces that previously housed Peoples Records and Amsterdam Espresso will remain commercial.

The Detroit Investment Fund is involved in the project, and historic and brownfield tax credits will be pursued.

Source: Scott Lowell and architect Mike McClear
Writer: Kelli B. Kavanaugh

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