{"id":1004314973,"date":"2019-04-08T02:27:22","date_gmt":"2019-04-08T10:27:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004314973"},"modified":"2019-04-09T10:48:02","modified_gmt":"2019-04-09T18:48:02","slug":"sbe-byzantine-to-build-mixed-use-project-in-downtown-detroit","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sbe-byzantine-to-build-mixed-use-project-in-downtown-detroit\/","title":{"rendered":"sbe, Byzantine Team on Downtown Detroit Mixed-Use"},"content":{"rendered":"
\"\"<\/a>

Temple Detroit. Rendering courtesy of sbe<\/em><\/p><\/div>\n

sbe and partner Byzantine Holdings will develop Temple Detroit, a $72 million project that will combine 100 hotel guestrooms, 70 residential units and three food-and-beverage venues in downtown Detroit\u2019s Cass Corridor. The eight-story, 190,000-square-foot building dates to the 1920s and was designed by Albert Kahn\u2014sometimes called \u201cthe architect of Detroit\u201d\u2014for the Standard Accident Insurance Co. The redevelopment is scheduled to open in June 2020.<\/p>\n

Sited at 640 Temple St., across from Cass Park, the property reportedly will be the first in the luxury House of Originals brand, which was announced last month by sbe and Accor. Amenities will include DJ\u2019s and live music in a subterranean club, a rooftop pool and lounge with skyline views of Detroit, a full-service spa, along with indoor and outdoor event spaces. The location is just two blocks from Little Caesar\u2019s Arena, Comerica Park, Ford Field and about 1 mile from Detroit\u2019s central business district.<\/p>\n

The project\u2019s includes partners Christos Moisides, David Sutherland and Gretchen Carhartt Valade, with Detroit-based Chemical Bank providing financing. Architect McIntosh Poris, Rockford Construction and Kravitz Design, Lenny Kravitz’s New York-based interior design company, are also involved in the redevelopment.<\/p>\n

Ready for luxury growth<\/h2>\n

Last July, Accor and sbe reached an agreement<\/a> under which Accor acquired a 50 percent interest in sbe. Together, the companies are developing The House of Originals as a new luxury global brand. The initial phase of properties is set to include\u2014in addition to the Detroit project\u2014the Sanderson and St. Martins Lane in London, 10 Karakoy in Istanbul and the Shore Club in Miami Beach, Fla.<\/p>\n

The worldwide luxury hotel market, valued around $83.1 billion, is predicted to grow at a compound annual growth rate of 4.3 percent through 2025, according to a 2018 report from Grand View Research.<\/p>\n","protected":false},"excerpt":{"rendered":"

The $72 million project will redevelop a nearly century-old, 190,000-square-foot office building into a 100-key hotel, plus 70 residential units. The property reportedly will be the first hotel in Detroit\u2019s Cass Corridor. <\/p>\n","protected":false},"author":882,"featured_media":1004314982,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1495,21782,21808,21751,13,21742],"tags":[34321,43418,32969],"class_list":["post-1004314973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-detroit","category-development","category-featured","category-hotel","category-midwest","category-latest","tag-accorhotels","tag-albert-kahn","tag-sbe"],"acf":[],"yoast_head":"\nsbe, Byzantine Team on Downtown Detroit Mixed-Use - 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\/sbe-byzantine-to-build-mixed-use-project-in-downtown-detroit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"sbe, Byzantine Team on Downtown Detroit Mixed-Use\" \/>\n<meta property=\"og:description\" content=\"The $72 million project will redevelop a nearly century-old, 190,000-square-foot office building into a 100-key hotel, plus 70 residential units. 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