The former site of the Joe Louis Arena could be redeveloped into multi-residential with studio and one-bedroom units based on a conceptual plan submitted to the City of Detroit.
As first reported by Crain’s Detroit Business, Detroit-based Sterling Group submitted the plan to the city in July for a project called The Louis.
In the plan, developers says The Louis “draws upon the rich industrial character of Detroit with the forms and materiality that defined the industrial character of the nation. While reflecting the dominance that Detroit has enjoyed in the past, The Louis will forge a new direction for the city and serve as a distinct destination for decades to come. Upon completion it will reset the bar as the preeminent place to Live, Work & Plan within the city.”
Sterling Group acquired the property in a $14 million deal two years ago that moved control of the arena and parking deck from bond insurer Financial Guaranty Insurance Co. to the developer.
Earlier this year, Sterling Group sold the parking deck to Grosse Pointe-based Foster Financial Co., Crain’s reported.
According to preliminary plans submitted to the city, the 24- story development would feature about 500 studio and one-bedroom apartments.
Apartment sizes range from 259 square feet for a studio apartment to 653-772 square feet for a one-bedroom unit.
Joe Louis Arena opened in 1979 and was the home of the Detroit Red Wings until April 2017; the team moved to the new Little Caesars Arena on Woodward for the 2017-18 season.
Joe Louis Arena was closed after hosting its final event in July 2017 and demolished in 2019-20.