A conceptual plan to put a 25-story apartment tower on the former site of Joe Louis Arena in downtown Detroit is moving closer to reality.
The City of Detroit issued a Phase II building permit Wednesday for vertical construction of the tower, which is to contain 500 housing units. The permit estimates the cost of the construction work covered by the permit at $40.3 million.
The developer, Detroit-based Sterling Group, which essentially acquired the 5-acre property from one of the city's bankruptcy creditors, has shared few details about the project with the public.
Last summer, the firm submitted a concept plan to the city showing a 25-story, 290-foot-tall residential tower called The Louis, but it has yet to make any formal announcements or respond to media inquiries.