MIDTOWN HOUSING: If you refurbish it, they will come
Condos, townhouses and lofts, some in buildings a century old, are drawing new residents to reborn part of Detroit

BY ALEJANDRO BODIPO-MEMBA AND KIM NORTH SHINE
FREE PRESS STAFF WRITERS

March 14, 2004 - Just as they have many eateries and art galleries to choose from, residents of Midtown Detroit now have an array of choices in housing, from the eclectic to the elegant to places picture-perfect for Metropolitan Home magazine.

"For the city of Detroit, this is an example of what can happen in the Cass Corridor and elsewhere," says Phil Grier, owner and developer of the Waldorf Loft Condominiums. "We'll have a full-fledged, Chicago-style neighborhood before you know it." The ideal Midtown resident, says real estate agent and Midtowner Lisa Debs, has an appreciation for unusual, old structures that have been transformed into unique living spaces in a hip urban setting. Having an adventurous bent and a desire to become a city dweller -- and all that entails -- helps, too, she says.

"It can be a struggle living here," she says, noting the lack of businesses such as grocery stores. "But it won't be that way for long. As the people continue to come, the businesses will continue to come."

Though a mix of housing can be found in Midtown, everything from hulking Victorian homes to boxy, low-income apartments, it's condos that are attracting many to the 2-square-mile area north of downtown. Here's a sample of some of what Midtown offers in the way of condos, townhouses and lofts.

The Brownstones on John R

Location: Corner of John R and Adelaide

Billed as: "Luxury brownstones restored to their 1890s splendor"

Style: Six row houses encased in their original facades

Price: Starting at $419,900

Room to live: 2,700 square feet

What you get: Choice of three floor plans. Three-bedroom, two-bath, three-story townhomes set in deep narrow designs with original basements and garages.

Special touches: Entertainment loft, private outdoor courtyards, third-floor private decks with wrought-iron railing, granite countertops in kitchen, GE stainless steel or black kitchen appliances, raised panel Aristokraft cabinets, ceramic tile in all bathrooms, tub with jets and shower in owner's suite, hardwood floors on entire first floor, two-car attached garage, bonus room over garage, fireplace in living room, recessed lighting and privacy fences

Standout feature: Room for a small garden in the courtyard. Beautiful front door entrance.

Background and history: Row house residents often were managers for companies owned or run by the owners of the largest homes in the neighborhood, says Crosswinds Communities salesman Brent Chittenden.

What they're saying: "People who buy here want the historic nature but with the modern conveniences of the 21st Century," Chittenden said.

For more information:
www.crosswindsus.com/michigan/detroitbrownstones/index.html or 313-962-1100.

Buyers often get breaks on taxes, mortgages

Prices in Midtown start in the low $100,000s and go as high as $500,000 for penthouses. How do Midtowners afford it?

One bank loan program offers urban renewal mortgages at 1.5 percent below the going interest rate. In addition, many historic properties come with a 12-year, 50-percent discount on the value of the property before renovation.

In some cases, the property was almost useless before renovation so the taxable value is very low. Income has no bearing on eligibility.

"The tax breaks are definitely incentives to getting people to come here," says Richard Buss, executive director of the community investment program for National City Bank.

During the next five years, dozens more Midtown developments are expected to be completed.

Most of the area is in one or more of the federal, state or historic zones that allow for tax breaks and other perks.