Developer sweetens deal for remaining West Deaborn lofts

Thursday, October 30, 2008 | Source: metromode

Two new lofts developments in Dearborn's West Downtown are nearly full, and the developer is willing to make a deal to finish them off by the holidays.

Only six of the units at Gateway and Horizon lofts are left, which is down from nine just a week ago. Those lofts are mainly 2-bedroom units. The developer is willing to lower the security deposit from $1,000 to $500 and knock as much as $150 a month off units that are priced as high as $2,100.

"My goal is to have all of these occupied by Thanksgiving," says Amer Zahr, leasing agent for both developments.

The developments are some of the most progressive Dearborn's West Downtown has seen in a long time. They are built up to the lot line and feature ground floor retail space underneath residential space. They also blend in with the historic structures along Michigan Avenue.

Horizon Lofts is at the corner of Michigan and Howard Street. It features 24 homes on the second, third and fourth floors of the 4-story building. Many of the occupied units in that building are in the upper floors. Most of the ground floor retail space is also filled with the likes Buffalo Wild Wings and Panera Bread.

The units at Horizon Lofts range in size between 1,000 and 1,700 square feet. Prices for one-bedroom lofts start at $1,300 a month while two-bedroom lofts go for $1,900 a month. It also features a recently finished fitness center and an in-the-works roof-top deck. Both Horizon and Gateway lofts offer free Wi-Fi.

Gateway Lofts is on the southwest corner of Michigan Avenue and Military Street, a stone's throw away from Horizon Lofts. The new 2-story building features eight lofts, ranging in size from 1,100-1,500 square feet. They all have one bedroom and a den. Prices start at $1,000 per month and go as high as $1,550.

Caliente Grille, a Mexican food restaurant, is on the ground floor. There is enough retail space on the ground floor to accommodate up to four other businesses.

Source: Amer Zahr, leasing agent for Horizon and Gateway lofts
Writer: Jon Zemke