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Developers buy four New Center buildings for $3.1M

Regina Ann Campbell on Burroughs Street in TechTown

Optima Aegidius Group, a German-based development group, just purchased four buildings in New Center near TechTown Detroit for $3.1 million, according to a Crain's Detroit Business article.

The four buildings, writes Kirk Pinho, "total just more than 71,000 square feet. The company anticipates building additional space on top, totaling 21,000 square feet to accommodate the planned 60 units. As planned, the project would also have 29,000 square feet of retail space. Construction is expected to begin next year after financing and city approvals are received."

The group has contracted local developer Scott Lowell to carry out the project.

Read the full Crain's article here.
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