Construction on schedule at Mid-Med lofts

Steel framing is being erected at the Mid-Med Lofts, so it makes sense that pre-construction incentives are being discontinued. At a “Construction Kick-Off Party” On October 11 from 5-8 p.m., the developers will offer prospective purchasers a final opportunity to reserve a unit while enjoying the incentives, which include:

• $3,000 at closing to cover the first year’s association fees;
• the ability to reserve any unit with $5,000 down rather than they typical 3%; and
• below-prime lending rates from LaSalle Bank.

The project involves the retrofitting of the shell of the former Melrose Hotel as well as brand-new construction above the former car wash next door. 12 units of the Mid-Med Lofts have already sold, “about a third,” says sales agent Paul Jewicz. Units range from 833 square feet priced at $174,930 to 2-level 1,724 square feet spaces that will cost $386,000. 

All units come with secured outdoor parking just to the west of the lofts, but those who choose to upgrade will park inside the car wash, which is straddled to the east by a convenience store and a deli, which were the first phase of the Mid-Med development. Each condo also features a private balcony.

Jewicz anticipates the entire project will be complete next June, but fourth floor lofts will be ready in April—and each one of those has already sold. Jewicz attributes the large amount of interest in part to Mid-Med’s location at John R and Canfield, “the intellectual and cultural heart” of Detroit.

The October 11 event will feature live jazz and food and drinks provided by Midtown Corner Café, the previously-mentioned deli.

Source: Paul Jewicz, Mid-Med Lofts