Three Squared, Inc.
, a Detroit-based real estate development company specializing in re-purposing used cargo containers into condos, is moving toward breaking ground on the first of its three structures in Detroit. First will be a three-story, 4,400 square foot mixed-used Model Center and, pending appraisal, the company will break ground by the beginning of February. Three Squared CEO Leslie Horn says that once started, the Michigan Avenue building will be completed in six weeks.
The model center, located between 1350 Michigan Ave. and Grinnell Place Lofts, will serve as a condo showcase and office for Three Squared, with the rest of the building available to lease for office use. The company plans on breaking ground on its two condo buildings in May with construction expected to take less than six months. The first, a four-story, 26,000 square foot building with 20 units, will be built on Rosa Parks Boulevard at Warren Avenue. A second building, with an expected 10-12 units, will be built behind the Michigan Avenue Model Center.
The buildings were designed by Detroit-based architect Steven Flum. Three Squared has also enlisted the assistance of architect Eric Lloyd Wright, grandson of famed architect Frank Lloyd Wright, to help with the details of the second Michigan Avenue condominium development.
Each unit will sell at market rate, according to Horn, and fall in a range of 853 to 1,920 square feet. Horn says that a list of people waiting to see the units is growing and the company is looking at two more sites for potential development. The company expects to do between $8 and $10 million in construction business over the course of the project. "We'll be keeping the industry busy," Horn says.
Both condo developments will qualify for the popular Live Midtown
and Live Downtown
Source: Leslie Horn, CEO of Three Squared, Inc.
Writer: MJ Galbraith