"Wayne State University has demonstrated the way in which private/public partnerships can be catalysts for economic development and renewal in an inner city." "The South University Village projects have created 195 construction jobs, and will eventually lead to 50-150 permanent jobs among the retailers on site," Reid said. Reid, Wayne State's involvement as a lead partner in the development of Midtown also has been an economic boost to Detroit. WSU and Prime Development, the Grand Rapids-based developer of Studio One Apartments, embarked on the university's first private/public real estate venture in March 2007 when they broke ground on the $36 million project.Īccording to Wayne State University President Irvin D. The 950-space garage, on Forest Avenue, also includes first-floor retail. Wayne State also built and financed a four-level parking garage connected to the apartment building to accommodate the residential/retail complex, the general public and the university. The project's location on four acres at the former site of the old Vernors ginger ale factory, will be a commercial corridor marked by residential facilities such as Studio One Apartments, as well as shops, restaurants and anchor tenant Fifth Third Bank. Wayne State's role as a leader in the South University Village project represents the university's overall commitment to economic development in Midtown, Detroit and Michigan. Tuesday, July 29, on the site at 4501 Woodward Avenue in Detroit. A ribbon-cutting ceremony will be held at 2 p.m. Wayne State University is celebrating the grand opening of the first major market-rate residential project of its kind in Detroit in more than 30 years - South University Village's Studio One Apartments. Public-private development partnership spurs residential and retail growth in Detroit's Midtown
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