Denver-based company rehabs historic Detroit apartment complex - FOX 29 News Philadelphia | WTXF-TV

Denver-based company rehabs historic Detroit apartment complex

Posted: Updated:
Alden Towers on East Jefferson in Detroit Alden Towers on East Jefferson in Detroit
A refurbished apartment inside Alden Towers A refurbished apartment inside Alden Towers
The lobby inside Alden Towers The lobby inside Alden Towers
DETROIT (WJBK) -

Alden Towers, a historic Detroit building that features luxury apartments with unbeatable views, is ready for new residents.

"I really see Detroit as the land of opportunity," said Luke Davis.

That comes from someone who is not from here, but Davis is smart enough to recognize a gem when he sees it.

"You're right on the riverfront.  You've got Belle Isle right across the way.  So [we've] got some of the nicest assists of Detroit surrounding us," he said.

Alden Towers is a 380 unit apartment complex on East Jefferson.  It was  built in 1922 just steps away from the homes of the Fords and the Strohs.  The mansions are gone, and by the 1990s, the building had fallen on hard times.

"The previous owner put a bunch of money into purchasing it, got a big loan and didn't put any of the loan proceeds back into the property and then neglected it for many years," Davis explained.

Criminals and squatters moved in, and units were trashed.

"It was on the ropes, and it might have been ready for a wrecking ball," said Davis.

However, he and Denver-based Triton Properties saw the building as an opportunity.  The company pushed out the criminals and squatters and have been rehabbing every inch of it.  There is a new fitness center, swanky lobby and free Wi-Fi.  A newly renovated one bedroom apartment is about $650 a month, $125 more than the old units.

The company is hoping to draw new tenants who are excited about Detroit and it's hidden potential.

"The possibilities are endless around here, and aside from Dan Gilbert, no one's really focusing on it," Davis said.

For more information about Alden Towers, visit www.aldentowers.com.

  • Local NewsLocal NewsMore>>

  • Pensioners approve Detroit bankruptcy plan

    Pensioners approve Detroit bankruptcy plan

    Monday, July 21 2014 11:39 PM EDT2014-07-22 03:39:04 GMT
    The city of Detroit says workers and retirees have approved pension cuts, a crucial step to emerging from the largest municipal bankruptcy in U.S. history. The city reported results Monday after two months of balloting ended July 11. A judge still must hold a trial to determine if Detroit's overall bankruptcy plan is fair and feasible, but support from retirees is vital.
    The city of Detroit says workers and retirees have approved pension cuts, a crucial step to emerging from the largest municipal bankruptcy in U.S. history. The city reported results Monday after two months of balloting ended July 11. A judge still must hold a trial to determine if Detroit's overall bankruptcy plan is fair and feasible, but support from retirees is vital.
  • DPD's 6th precinct struck by bullets in drive-by shooting

    DPD's 6th precinct struck by bullets in drive-by shooting

    Monday, July 21 2014 11:06 PM EDT2014-07-22 03:06:31 GMT
    Detroit police say bullets struck the 6th Precinct building during a drive-by shooting. This was the same precinct where four officers were shot back in 2011.
    Detroit police say bullets struck the 6th Precinct building during a drive-by shooting. This was the same precinct where four officers were shot back in 2011.
  • City turns down Vinsetta Garage's new parking proposal

    City turns down Vinsetta Garage's new parking proposal

    Monday, July 21 2014 10:31 PM EDT2014-07-22 02:31:49 GMT
    Vinsetta Garage, a popular restaurant in Berkley, proposed to tear down several homes and build a parking lot to solve the parking issue in the neighborhood, but the proposal was turned down Monday at city hall.
    Vinsetta Garage, a popular restaurant in Berkley, proposed to tear down several homes and build a parking lot to solve the parking issue in the neighborhood, but the proposal was turned down Monday at city hall.
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 | Terms of Service | Ad Choices