New Business Guidance:
7 Mile and Livernois
$8.3 million mixed-use redevelopment located at 19031 Livernois Avenue
- 7.Liv is an $8.3 million mixed-use redevelopment located at 19031 Livernois Avenue.
- The financing—provided by Capital Impact and JPMorgan Chase’s Detroit Neighborhoods Fund, the Michigan Strategic Fund, Invest Detroit, DEGC and the developer (Matt Hessler)—will be used to redevelop three former retail stores into a mixed-use development.
- Formerly the “old B. Siegel department store,” 7.Liv will include 10 residential units—three of which will be affordable at 80 percent of the Area Median Income—as well as 20,500 square feet of commercial storefront and 29 underground parking spaces.
- The developer partnered with Jones Lang LaSalle to broker the commercial and retail spaces below the residential units. The Monahan Company, Quinn Evans Architects, financial consultant David Howell and PM Environmental have also partnered with Hessler on the project.
- The revitalized building will act as a retail anchor and catalyze inclusive economic development along Detroit’s “Avenue of Fashion.”
- Generating 27 temporary construction jobs during the substantial historic rehabilitation process, the long-term result is anticipated to create 30 full-time equivalent jobs by prospective tenants.
- In support of utilizing Detroit-based contractors and employing Detroit residents, Hessler intends to implement benefits that are advanced by the DEGC’s D2D and Skilled Trades Task Force.
- The project—expected to take 14 months to complete—will help restore the prominent intersection of Livernois–7 Mile, which is bound by the historical residential neighborhoods of Sherwood Forest, Palmer Woods and University District.
- The residential units will provide an opportunity for and encourage students and faculty of the nearby University of Detroit Mercy and Marygrove College to live and shop in the neighborhood.