Riverfront Towers: steady sales enable conversion of sales office to 3 condos

The Riverfront Towers were built in the 1980s as the first high-end apartment development built on the Detroit River in decades. In 2005, Tower 300 was converted to condominiums, and all but 23 of 289 have been sold.

Because of this milestone, the sales staff is moving out of their office and into a model unit so that the office space can be reconstructed into three additional condos.

Riverfront Associates Managing Partner Peter Cummings attributes Riverfront's relative success to its location and pricing. "It's on the water, with a marina and all these amenities," he says. "We're offering compelling values, and, obviously, people are reacting to that."

Towers 100 and 200 were sold to Empirian Acquisitions in 2007 and remain as apartments.

Source: Peter Cummings, Riverfront Associates
Writer: Kelli B. Kavanaugh