Transforming Detroit: New Life for the Shelby Congress Building and Corktown Inn
Two PM Environmental Clients Approved for 10-Year Commercial Rehabilitation Tax Abatement
Thanks to a 10-year commercial rehabilitation tax abatement recently awarded by the City of Detroit, The Shelby Congress Building and the former Corktown Inn will get facelifts.
The Commercial Rehabilitation Act affords a tax incentive for rehabilitating properties meeting certain criteria into a commercial business or multi-family residence.
PM Environmental helped developers of both properties secure tax incentives in addition to providing environmental due diligence services and asbestos abatement project management/oversight.
“PM is honored to be part of these exciting projects,” said Jessica DeBone, brownfield and economic incentives consultant at PM Environmental. “Both will contribute to the City in a unique way.”
The goal for both projects is to create cultural hubs as well as serve as catalysts for future development and jobs. Neither building was operating at a sustainable occupancy level due to deferred maintenance and outdated features. Redevelopment of interior features as well as roof maintenance and new construction was essential.
The former Corktown Inn will become Trumbull and Porter, a 144-room boutique hotel complete with a minimalist redesign, accessories made by local artists and custom-designed beds, furniture, and lighting. Located at 1331 Trumbull Avenue in Detroit, Mich., the 66,529-square-foot property will debut in early spring 2016 with a restaurant and retail space to follow.
Detroit-based firm, Patrick Thompson Design was hired to design and create the Trumbull & Porter brand. Corktown Hotel, LLC purchased the property in the fall of 2014 and Access Hospitality is acting as both developer and management for the property.
The Corktown Inn will become Trumbull & Porter, a modern boutique hotel.
“Trumbull & Porter will become a community asset to the Corktown neighborhood, transforming the reputation that preceded it,” said DeBone.
The Shelby Congress Building, located at 607 Shelby Avenue, will also get a complete overhaul. The Neoclassical and Renaissance style building, historically known as U.S. Mortgage Bond building, was built in 1915 and is located in Detroit’s Central Business District. Purchased for $1.3 million, the roughly 57,000-square-feet will be transformed into modern office space with a potential main floor restaurant.
”This development will bring increased daytime density on the west side of the downtown and likely provide an evening destination through the potential restaurant space,” said DeBone.
Photos credits: Patrick Thompson Design and Curbed
May 31, 2017