Despite the bleak housing market,
Willys Overland Lofts
has sold seven units without resorting to slashed pricing and before
they had the benefit of an on-site sales office. Four are occupied,
with the remainder undergoing build-out.
Sales associate Jason
Peet attributes this relative success to the fact that owners are able
to take advantage of architecture services from DeMattia Group's
in-house talent. Once a unit is purchased, custom design work and
construction can be accomplished in just three months. "Higher-end
buyers get that that's worth a lot of money to work with architects,"
he says.
The 75 lofts range in size from 850 to 2,950 square
feet. Fifteen ground floor units can be configurated into live/work
spaces -- a fact already evident at
Re:View Contemporary Gallery, which fronts on Willis -- whereas nine of the 15 front the building's gated guest parking lot.
Sixty
units are in the original structure; 15 are two-story penthouse units
in a rooftop addition. Most units have outdoor access via either a
fenced-in lawn area on the ground floor, a balcony or a rooftop patio
in the case of the penthouses. All units include indoor resident
parking as well as reserved spots in the guest lot.
Prices range
from $158,000 to $620,000; two of the sold units hover in the $500,000
range. Willys is in a Neighborhood Enterprise Zone, which reduces
property taxes for the buyer and has a relationship with National City
Bank's N-CHAMP program, which has the ability offer interest rates
below prime. One last buyers' bonus: MSHDA has packaged a dozen $10,000
down payment assistance grants for buyers who are income-qualified.
Contact
Peet at 313-832-2000 for more information or to schedule a tour. Now
that there is a full-time sales office on-site, he hopes to be kept
rather busy.
Source: Jason Peet, Midtown Development
Writer: Kelli B. Kavanaugh