This development at 389 Saint Clair Avenue in Grosse Pointe is helping fill a void in the Grosse Pointes where apartments and condos are in short supply.
Developers are working on a $12 million redevelopment of the 30,000-square-foot former Cadieux School, which eventually became the Grosse Pointe Public School System’s administration building, Crain's Detroit Business reports. Apartments are under construction in the main building and eight new condo townhomes are being built on the back of the site.
Crain's Nick Maines reports:
The first sale of the 2,000-square-foot townhomes closed Thursday at the asking price of about $750,000. Buyer Andrew Glancy — relocating to the area after several years in New York City — pointed to the limited inventory for the type of product he was seeking.
“The market in Grosse Pointe is tough right now,” Glancy told Crain’s. “Prices are going through the roof and it’s hard to find places that wouldn’t require a lot of upgrades. I just want a manageable amount of space and I wanted to not have to do a lot of work to get the interior looking really nice.”
