OXFORD CAPITAL GROUP, LLC, HUNTER PASTEUR, AND THE FORBES COMPANY ANNOUNCE TOPPING OFF FOR NEW PERENNIAL CORKTOWN APARTMENT BUILDING & TOWNHOMES AND FIRST RETAIL LEASE SIGNING
Set to open in November, the housing, parking, and retail development starts pre-leasing for apartments and townhomes this Spring
DETROIT, March 20, 2023 /PRNewswire/ -- The partnership of Oxford Capital Group, LLC, Hunter Pasteur, and The Forbes Company announces the topping off of the multi-family project, Perennial Corktown in Detroit, Michigan. The community will begin pre-leasing apartment units in Spring 2023. The project includes the seven-story apartment complex, seven townhomes, a three-story parking garage, and more than 12,000 square feet of retail space. It is adjacent to the luxury lifestyle Godfrey Hotel that Oxford and Hunter Pasteur are separately developing, which will open this summer. Leasing for tenants in the retail space at Perennial Corktown is currently underway with the first lease already signed.
The development is set to open in November 2023, debuting 188 units including a combination of studio, 1-bedroom, and 2-bedroom, in addition to seven luxury 3-bedroom townhomes. Residential tenants of Perennial Corktown will have access to an array of premier onsite amenities, including an outdoor pool and deck area, community co-working space, workout room with a yoga studio, outdoor amenity deck, club room with private dining and rentable rooms, demo kitchen, and more. With the goal of creating a strong community within the building, Perennial Corktown will activate unique programming in common spaces for residents to enjoy throughout the year.
"With Corktown's rich history, increasing visibility, and growing popularity in Downtown Detroit, we are thrilled to join the thriving community of businesses and look forward to welcoming new residents and locals to the Perennial Corktown complex in 2023," said John W. Rutledge, Founder, Chairman and CEO of Oxford Capital Group, LLC and Oxford Hotels & Resorts, LLC.
"We are pleased with the significant construction progress that has been made at our Perennial Corktown Project, and completing the superstructure is an important milestone. We are equally pleased that our projects are bringing to fruition important community benefits, including but not limited to workforce development, employment, tax base, sustainability and infrastructure investment." said Seth Herkowitz, Partner at Hunter Pasteur.
The complex will feature an expansive 12,000 square feet of retail space across the ground floors of the apartment building and parking garage, which will be ideal for the community of businesses looking to expand in the heart of Corktown, one of the most dynamic and rapidly growing submarkets in Detroit. Corktown Market is the first confirmed business to join the Perennial Corktown with 2,033 square feet of retail space. The market will be a new full-service neighborhood grocery store set to open in the Fall of 2023, and is committed to providing fresh, affordable, and local products to residents, with a full-service deli and coffee bar that includes indoor and outdoor seating.
"As lifelong Detroiters, we couldn't be more excited to be a part of the Perennial in Corktown! This vibrant community holds a special place in our hearts, and we're honored to contribute to its growth by the opening of our market," says Hadwan Hadwan, owner of Corktown Market.
Across the street and opening in Summer 2023, will be The Godfrey Hotel Detroit, a 227-room luxury lifestyle hotel. From Oxford Capital Group, LLC and Hunter Pasteur, the property will feature an indoor/outdoor rooftop lounge with expansive views of downtown Detroit and Corktown, a 6,000 square foot ballroom that will accommodate events of more than 350 guests, an additional outdoor events venue, and a fitness center.
For more information and updates on the Perennial Corktown, please visit www.perennialcorktown.com. For retail leasing inquiries, please contact Alan Stern of the Friedman Group at [email protected].
About Oxford Capital Group, LLC
Chicago based Oxford Capital Group, LLC is an award-winning international real estate investment, development, and management firm that focuses on large-scale acquisitions, developments, redevelopments, and operationally intensive real estate. Oxford, its affiliates, and principals have been involved in over $3 billion of real estate and private equity investments, with a primary focus on hospitality (16,000+ hotel rooms); hospitality anchored mixed use projects including multi-family (2,000+ units); senior housing (3,000+ units); urban retail; and parking. Oxford Hotels & Resorts, LLC is its wholly owned hotel management affiliate, which specializes in operating, managing, and branding distinctive, high design luxury lifestyle hotels, and food & beverage venues. Oxford Living, LLC is its senior housing investment and management platform. Oxford Residential, LLC is its multi-family development affiliate.
About Hunter Pasteur
Founded in 1999, Hunter Pasteur (HP) has grown to become one of Southeast Michigan's largest and most respected developers. Over the past two decades, HP has built and developed over 2,000 luxury single family homes and multifamily condominiums throughout Metro Detroit, including thriving communities in Ann Arbor, Bloomfield Hills, Clarkston, Commerce Township, Detroit, Lake Orion, Novi, Northville, South Lyon, West Bloomfield and many more. HP and The Forbes Company also have over 2,000 luxury multi-family units currently under development, valued at over $1 Billion in costs. A passionate advocate for the critical role housing plays in economic and community development, Hunter Pasteur has been honored as "Multifamily Construction Builder of the Year" by the Home Builders Association of Southeast Michigan. To learn more, visit https://www.hunterpasteur.com/
About The Forbes Company
Based in Southfield, Michigan, The Forbes Company is a nationally recognized owner, developer and manager of iconic regional shopping centers, recognized throughout their respective markets for their retail innovation, fashion leadership, distinctive architecture and luxury appointment. In addition to Somerset Collection, these properties include: The Gardens Mall in Palm Beach Gardens, Florida; The Mall at Millenia in Orlando; and Waterside Shops in Naples, Florida.
SOURCE Oxford Capital Group, LLC
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