Bagley Development Group begins $75M transformation of historic United Artists Building into the Residences @ 150 Bagley

Bagley Development Group begins $75M transformation of historic United Artists Building into the Residences @ 150 Bagley

• Detroit-based, African American-led development team turning skyscraper into 148 market rate and affordable apartments

DETROIT – Mayor Mike Duggan, Council President Mary Sheffield, and leaders from Bagley Development Group, Olympia Development, and the U.S. Department of Housing & Urban Development celebrated today the kick-off the transformation of a long-vacant skyscraper that will bring stunning market rate and affordable housing along Detroit’s Grand Circus Park.

The $75 million project will turn the former United Artists Building into the Residences @ 150 Bagley. The project is led by the Detroit-based, African American-led development team of Bagley Development Group, which is revamping the nearly 100-year-old building at 150 Bagley St. into 148 apartments, 20 percent of which will be reserved as affordable housing at 80 percent area median income.

In addition to one- and two-bedroom units that will be up to 1,300 square feet, the redevelopment will also activate approximately 10,000 square feet of retail and dining space along Bagley Street, adding to the growing number of shopping and dining options downtown. The building is slated to open in late 2023.

Bagley Development Group is comprised of Emmett Moten, Scott Allen, Larry Brinker Sr., Tom Goss, Richard Hosey, Roy Roberts and Jim Thrower, who combined have decades of development experience in Detroit and have helped to save a number of the city’s vacant historic buildings, including the Fort Shelby Hotel, Farwell and Capitol Park buildings, and soon, the Fisher Body 21 plant.

"My partners and I are honored to develop Residences @150 Bagley in such a vibrant, downtown community," said Moten, the group’s managing partner. “Residences @ 150 Bagley represents the perfect model for urban development, with the public and private sectors working collectively to benefit the community.

“Residences @ 150 Bagley, will become a flagship, residential development in The District Detroit, and will honor the past while creating the next step in downtown’s exciting future.”

The Residences @ 150 Bagley will not only bring affordable housing, new residents and businesses to the thriving neighborhood around Grand Circus Park, but also create hundreds of construction and permanent jobs to Detroit.

The building has sat mostly vacant for almost 50 years. Its rebirth will not only mean beautiful, quality housing in the heart of downtown, but also that a city once littered with vacant skyscrapers will now have almost none.

“For nearly half a century, the United Artists Building has been one of our city’s iconic images of blight and abandonment,” Mayor Duggan said. “Today, just like we are doing with Michigan Central Station, Fisher Body 21, Lee Plaza and others, we are giving the United Artists Building new life, and turning blight into beauty.  I'm so proud that we have a development team that truly represents our city turning this great building into new housing, with 20 percent of the units reserved for Detroiters of lower incomes. This project would not have been possible without the leadership of Chris Ilitch and the partnership of HUD, the State of Michigan, our Department of Housing and Revitalization and others. This is a great day for Detroit.”

“I'm delighted to see more housing in Detroit that is both equally beautiful and economical,” said Council President Mary Sheffield. “The Residences @ 150 Bagley is certain to be a welcome addition to a bustling downtown. As an African-American-led HUD development, with 148 units and retail space, it is a testament to the importance of representation in the revitalization of Detroit and the development of affordable housing. This development is indicative of what can happen when the business and government sectors come together for the benefit of the community – a formidable partnership that enhances our ability to retain and attract residents is created.”

Bagley Development’s renovation of the Olympia Development property ensures this historic building will shine for years to come as it retakes its rightful place as a gem of Detroit’s skyline. It also follows a wave of development activity around Grand Circus Park, much of it led by ODM, such as Little Caesars’ corporate headquarters, the Eddystone Residences, the redevelopment of seven historic Henry Street residential properties, the renovation of the Women’s City Club Building and the recently announced Detroit Center for Innovation being built in partnership with Related Companies and the University of Michigan.

"Bagley Development’s commitment to bringing this historic property back to life – and to creating opportunity through good jobs and affordable housing while doing so – remains an inspiration to me and the entire team at Olympia Development,” said Christopher Ilitch, president and CEO of Ilitch Holdings, Inc. "We’re honored to partner with Emmett Moten and the rest of the outstanding Bagley Development team on this historic restoration in The District Detroit, and we look forward to seeing the lasting, positive impact that it will have on the community."

The Residences @ 150 Bagley will be within walking distance of several public transit options and a wealth of work, live and play options in The District Detroit, including Comerica Park, Ford Field, Little Caesars Arena, the historic Fox Theatre, the Detroit Opera House and other cultural venues. 

Bringing a building back to life after nearly half a century took a dedicated team working on the financial side of the deal, including AFL-CIO Housing Investment Trust, Gershman Investment Corp, Stonehenge Capital, Bernard Capital, Capital Impact and Liberty Bank. The project received a $43 million HUD 221(d)(4) multifamily housing loan, $8.5 million from the Downtown Development Authority, $7 million from the Michigan Strategic Fund and $3 million in federal Community Development Block Grant funding secured through the Detroit Housing & Revitalization Department.

“HUD is thrilled to partner with the City of Detroit, Bagley Development Group and Olympia Development to bring 150 Bagley back to life,” said Michael Polsinelli, Detroit field director for HUD. “HUD’s name says it all – housing and urban development. The rehabilitation of the United Artists Building will bring additional quality housing to the City of Detroit along with the continued successful urban development of Detroit.”

Detroit-based Brinker/Christman is the project’s construction manager, HPM is the owner's representative, and Michigan-based Hobbs + Black is the project’s architect.

The 18-story building was designed by legendary Detroit architect C. Howard Crane and opened in 1928. The building is within The District Detroit and Grand Circus Park Historic District.