Construction is underway on The Reckmeyer, an innovative mixed-use development in Detroit’s Broadway Historic District that will preserve historic architecture while adding much-needed housing downtown.
The $22.6-million project will restore two historic building facades at 1322-1332 Broadway and add an eight-story residential structure with 80 apartments. Notably, 20% of units will be offered at deeply affordable rates - around $1,000 monthly for one-bedroom apartments at 60% area median income.
“This process started in 2017,” said Roger Basmajian. “We wanted to create density while keeping our promise to the city not to tear these buildings down. We’ve created a super-steel structure within the building that’s tucked back about 15 feet and goes up nine stories.”
The Detroit Economic Growth Corporation (DEGC) has played a pivotal role in the project’s success, providing a $4.75 million RAP 2.0 grant. Additional public support includes $7.3 million in tax increment financing through the Detroit Brownfield Redevelopment Authority, $6.75 million in subordinated debt from the Downtown Development Authority and a $3.8 million city tax abatement.
“Projects like this within the Central Business District are incredibly tough to put together and require multiple organizations’ support,” said David Howell, DEGC Vice President of Development Services.
“It is going to fill the hole that sits here between the downtown area and the stadium district,” said Mayor Mike Duggan of the project’s strategic location. “Who wouldn’t want to be in a downtown apartment at $1,000 a month, a couple blocks from the stadiums?”
The project, slated for completion in December 2025, includes ground-floor retail space and resident amenities like a fitness center and community room. It’s being developed through a partnership between Basco, Kraemer Design Group, Roncelli Inc. and other stakeholders, including the Michigan Economic Development Corporation.