Downtown’s Merchants Building Slated For Redevelopment

Method Development LLC plans to revamp the Merchants Building in Detroit into a 135-room hotel. The $44 million redevelopment plan includes hotel space, and food, beverage and event space, as well as a rooftop bar. The $44 million price tag includes $5.9 million in building acquisition cost, $21.5 million in hard costs and $16.6 million in soft costs. Kraemer Design Group is project’s architect. This hotel would be one of many at varying development stages in and around downtown Detroit. The project is being financed with $16.7 million in equity and $27.3 million in debt.