Construction of the new $45 million DuCharme Place apartment community in Lafayette Park is now underway and expected to be complete by the first quarter 2017. The four-building, 185-unit apartment project at 1544 E. Lafayette Boulevard on the west side of the Dequindre Cut is being developed by Walter Cohen and his son David Cohen under the name DuCharme Place, LLC.
“We saw this as an ideal opportunity to develop a lifestyle-focused residential community,” said Walter Cohen. “DuCharme Place offers indoor parking, top quality amenities and is centrally located, while offering affordable living to Detroiters.”
Ducharme Place will be a mix of studio, one- and two-bedroom units ranging from 500 to 1,100 square feet. It will include enclosed parking, 24-hour security, a fitness center, a swimming pool with a spa and a private sky terrace. Rent for the units is expected to range from $900 to $1,500 per month. It is within walking distance of the attractions and employment of the Central Business District, Dequindre Cut bicycle/walking path, and the River Walk, Detroit’s beautiful riverfront park.
Under an approved brownfield plan, DuCharme Place, LLC was approved for approximately $4.8M in reimbursement for eligible activities that include environmental site assessments, site preparation and infrastructure improvements. The developer also was also assisted by the Detroit Economic Growth Corporation’s Business Development team in receiving a Commercial Rehabilitation Tax Abatement (PA 210) from the City of Detroit, With more than 30 years’ development experience in Detroit that includes the Stroh River Place and the Park Shelton, Walter Cohen and his companies have professionally managed, developed and built more than 3,000 multi-family units in the Detroit area.
The DuCharme partners and collaborators include: Sachse Construction, McIntosh Poris Associates, the City of Detroit, the Detroit Economic Growth Corporation, the Detroit Brownfield Redevelopment Authority and the Michigan Strategic Fund.
Director of Brownfield Redevelopment