WASHINGTON, D.C. – April 1, 2013 – (RealEstateRama) — In recent years, revitalization efforts have increased across the City of Detroit, MI. The recently announced renovation of downtown Detroit’s David Whitney Building is another prime example of these efforts. Originally built in 1914, this historic building will be renovated to include retail space, a new boutique hotel, and residential apartments.
Using historic rehabilitation and new markets tax credit advantaged financing, the mixed-use 18-story building contributes to the Grand Circus Park Historic District and is only one of two buildings in Detroit which contains a dramatic skylight-covered interior atrium lobby and only one of three surviving Detroit buildings designed by the noted architectural firm of Daniel H. Burnham and Company.
Investor Bank of America Merrill Lynch is represented by Nixon Peabody LLP. The legal team, which is handling all aspects of the tax credit financing, is led by David Schon, Scott DeMartino, Megan Palmer, Jessica Glynn, Aleks Frimershtein, Robin Mahapatra and Steven Dinolfo.
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