New owner investing $15M to renovate Detroit's Lafayette Towers - FOX 29 News Philadelphia | WTXF-TV

New owner investing $15M to renovate Detroit's Lafayette Towers

Posted: Updated:
Detroit's Lafayette Towers will be undergoing a renovation.  (Credit: Fox 2 News) Detroit's Lafayette Towers will be undergoing a renovation. (Credit: Fox 2 News)
DETROIT (WJBK) -

Lafayette Towers has been around since the early sixties, but now its new owner has plans to recapture it's former glory.

"To see the city coming back and exciting things happening within its city center, it's just phenomenal.  It's what I've been waiting on for the last 20, 25 years," said Gregory Jackson.

He is the new owner of Detroit's Lafayette Towers, a nearly 600 unit apartment complex built in the sixties and designed by renowned architect Mies Van Der Rohe.  It's just steps from downtown Detroit, a full service grocery store and offers killer views of the city.

Jackson walked me through his plans for what he calls one of Detroit's jewels.

"We've got to put the dress back on Cinderella," he said.

The Prestige Automotive CEO bought the recently foreclosed property last December for nearly $6 million.  He's investing another $15 million in what he calls a makeover, revamping everything from the HVAC systems to the units themselves.  He's even designing a new fitness center and Internet cafe all to create a community everyone from young professionals to retirees will want to call home.

"My vision is having people sitting around in the lobby with their iPads and whatnot.  They're having a coffee," said Jackson.  "I see a new Detroit when I see the Lafayette Towers today."

"Detroit is where I grew up.  Detroit is home," he added.  "To be a part of it and invest in it is just a natural for me.  It's what I and all true Detroiters should do if they have an opportunity."

Jackson told me that the renovations should take about 18 months to complete.  For more information, you can visit www.lafayette-towers.com.

  • Local NewsLocal NewsMore>>

  • All you need to know: Arts, Beats and Eats 2014

    All you need to know: Arts, Beats and Eats 2014

    Monday, September 1 2014 7:28 AM EDT2014-09-01 11:28:22 GMT
    Celebrating its 17th year and returning to the bustling streets of Royal Oak from Aug. 29 - Sept. 1, Ford Arts, Beats Eats presented by FirstMerit Bank will entertain thousands of visitors from across the region with its outstanding music line-up, stellar arts programming, mouthwatering selection of food, and a number of new attractions this Labor Day weekend.
    Celebrating its 17th year and returning to the bustling streets of Royal Oak from Aug. 29 - Sept. 1, Ford Arts, Beats Eats presented by FirstMerit Bank will entertain thousands of visitors from across the region with its outstanding music line-up, stellar arts programming, mouthwatering selection of food, and a number of new attractions this Labor Day weekend.
  • VP Joe Biden speaking in Detroit on Labor Day

    VP Joe Biden speaking in Detroit on Labor Day

    Monday, September 1 2014 7:19 AM EDT2014-09-01 11:19:13 GMT
    Vice President Joe Biden is scheduled to be in Detroit on Labor Day for the second time in three years.
    Vice President Joe Biden is scheduled to be in Detroit on Labor Day for the second time in three years.
  • Two teens shot and killed on Detroit's west side

    Two teens shot and killed on Detroit's west side

    Monday, September 1 2014 12:20 AM EDT2014-09-01 04:20:04 GMT
    Two families are grieving after the bodies of two teenagers -- a boy and a girl -- were found in the street Sunday morning on Detroit's west side. Both were shot and killed.
    Two families are grieving after the bodies of two teenagers -- a boy and a girl -- were found in the street Sunday morning on Detroit's west side. Both were shot and killed.
Powered by WorldNow

WTXF-TV
330 Market Street
Philadelphia, PA 19106-2796

Phone: (215) 925-2929
Fax: (215) 982-5494

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices