The Sterling Group is making the most of what it can using a small space for its new ID Woodward loft development just north of downtown Ferndale.
The ID Woodward lofts, 23350 Woodward Avenue, will occupy a thin sliver of land at the corner of East Woodland Street and Woodward, five blocks north of Nine Mile Road. The four-story building will be 35 feet wide and 70 feet tall, making it the tallest building in the neighborhood. It will have 18 units and ground-floor retail space.
Each unit will be designed in a traditional urban loft-style space, ranging in size from 500 to 1,100 square feet. Each unit comes with spacious floor plans, spiral stair cases, balconies, floor-to-ceiling windows, 17-foot-tall ceilings and parking.
The building will utilize Euro-style elevator parking, which is unique to Metro Detroit. The euro style elevator parking systems allows a lift to store the vehicles with a lift so residents can press a button to get their car.
The units are priced between $130,000 and $275,000 for a dual-floor
penthouse, although most of the units can be bought for $150,000.
"We are able to offer competitively priced lofts without compromising quality because of the highly efficient use of space. In short, we are selling volume," Frank Guirlinger, director of development services at Sterling Group. "We achieved this by developing underutilized properties and applied innovative design and creative parking solutions which resulted in a viable residential community that meets today's market demands."
The Sterling Group is targeting a segment of loft buyers seeking affordability in a walkable community with a vibrant night life and other amenities. Higher priced residential lofts have dominated the loft boom in Metro Detroit in recent years.
The project will occupy a lot that has been vacant for a number of years. It's set to break ground this fall and finish construction in the summer of 2008.
For information, visit the Sterling Group's Loft Shop sales center at 23365 Woodward or visit www.IDLOFTS.com or call (248) 417-2882.
Source: Frank Guirlinger, director of development services at Sterling Group
Writer: Jon Zemke