Construction finishes up at District Lofts in Birmingham

Work is starting to wrap up at The District Lofts in Birmingham.

So
far, 18 of the development’s 24 units are finished and 16 of those are
leased. The rest are expected to come online by the end of the month.

Those
units command rents that start at $2,700 a month for a
1,550-square-foot loft, including utilities and an underground parking
space. The pricier ones go for $3,400 a month for just under 2,000
square feet.

The development started out as a for-sale project
with starting prices of $400,000. Unfortunately it hit the market as
real-estate prices were crashing and credit was crunching, prompting
the developer, J.C. Cataldo, to make the switch to rentals. A number of
other prominent luxury developments like The Fifth Royal Oak and New Street Lofts in Mt. Clemens have also gone rental and enjoyed success.

The
District Lofts consists of a 4-story, mixed-use building where the
homes are located above ground floor retail space and an underground
heated parking garage. They are a few blocks east of downtown
Birmingham on South Eaton Street.

The development is in the heart of the city’s Rail District,
an old industrial corridor where old factory buildings are being
converted to lofts and businesses. A stop for a northern extension of
the Detroit-Ann Arbor commuter rail line is also planned for the area.

For information on the development, call (248) 593-6000.

Source: J.C. Cataldo, developer of The District Lofts
Writer: Jon Zemke