{"id":1004111385,"date":"2015-01-18T13:28:04","date_gmt":"2015-01-18T21:28:04","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=318493"},"modified":"2020-05-22T00:12:32","modified_gmt":"2020-05-22T08:12:32","slug":"vacant-strathmore-hotel-gets-new-life-as-apartment-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/vacant-strathmore-hotel-gets-new-life-as-apartment-building\/","title":{"rendered":"Vacant Strathmore Hotel Gets New Life as Apartment Building"},"content":{"rendered":"

By Veronica Grecu, Associate Editor<\/em><\/p>\n

One year after getting $3.5 million toward redevelopment from the Michigan Economic Development Corporation (MEDC), the reconstruction effort at Detroit\u2019s long-time vacant Strathmore Hotel took another step forward.<\/p>\n

\"Strathmore<\/a><\/p>\n

Strathmore Hotel – Detroit<\/p>\n<\/div>\n

A public-private partnership between Midtown Inc. and St. Louis-based real estate development firm McCormack Baron Salazar recently announced that funding has been finalized for the $28 million redevelopment project at the eight-story hotel located at 70 Alexandrine Street West. Dubbed Strathmore Apartments, the development project calls for the hotel\u2019s reconversion into 129 market-rate and affordable apartments in a mix of one- and two-bedroom units that will alleviate the strong demand for housing in Midtown Detroit\u2014one of the city\u2019s most densely populated areas, where residential occupancy rate stands at 97-99 percent annually, as recently reported by The Detroit News<\/a><\/em>.<\/p>\n

According to a press statement, 40 percent of the rental units at the Strathmore Apartments will be affordable, while the remainder will be market-rate. Designed to become the next Midtown Detroit destination, the redeveloped hotel will also include 2,000 square feet of ground floor commercial space. Local architecture studio Hamilton Anderson Associates created the conceptual plans for the 90-year-old structure.<\/p>\n

Built in 1924, the Strathmore operated as an apartment hotel for four decades, serving short-term travelers and long-term residents alike. In 1964 the hotel was reconverted into 187 residential units and operated as such until 2004, when the building was closed and left vacant.<\/p>\n

The redevelopment project is set to break ground in about one month.<\/p>\n

 <\/p>\n

Rendering courtesy of Midtown Detroit, Inc.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

One year after getting $3.5 million toward redevelopment from the Michigan Economic Development Corporation (MEDC), the reconstruction effort at Detroit’s long-time vacant Strathmore Hotel took another step forward.<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1495,21742],"tags":[],"class_list":["post-1004111385","post","type-post","status-publish","format-standard","hentry","category-detroit","category-latest"],"acf":[],"yoast_head":"\nVacant Strathmore Hotel Gets New Life as Apartment Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/vacant-strathmore-hotel-gets-new-life-as-apartment-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vacant Strathmore Hotel Gets New Life as Apartment Building\" \/>\n<meta property=\"og:description\" content=\"One year after getting $3.5 million toward redevelopment from the Michigan Economic Development Corporation (MEDC), the reconstruction effort at Detroit’s long-time vacant Strathmore Hotel took another step forward.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/vacant-strathmore-hotel-gets-new-life-as-apartment-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-01-18T21:28:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-22T08:12:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/01\/Strathmore-Hotel-Detroit.jpg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VeraGrecu\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vacant-strathmore-hotel-gets-new-life-as-apartment-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vacant-strathmore-hotel-gets-new-life-as-apartment-building\\\/\"},\"author\":{\"name\":\"Veronica Grecu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e8362e8641769829162f16fe58091f62\"},\"headline\":\"Vacant Strathmore Hotel Gets New Life as Apartment Building\",\"datePublished\":\"2015-01-18T21:28:04+00:00\",\"dateModified\":\"2020-05-22T08:12:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vacant-strathmore-hotel-gets-new-life-as-apartment-building\\\/\"},\"wordCount\":260,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vacant-strathmore-hotel-gets-new-life-as-apartment-building\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/Strathmore-Hotel-Detroit.jpg\",\"articleSection\":[\"Detroit\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vacant-strathmore-hotel-gets-new-life-as-apartment-building\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vacant-strathmore-hotel-gets-new-life-as-apartment-building\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/vacant-strathmore-hotel-gets-new-life-as-apartment-building\\\/\",\"name\":\"Vacant Strathmore Hotel Gets New Life as Apartment Building - 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