New owner investing $15M to renovate Detroit's Lafayette Towers - FOX 10 News | myfoxphoenix.com

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>>

  • Jimmy Buffett returns to Comerica Park on July 26

    Jimmy Buffett returns to Comerica Park on July 26

    Thursday, April 17 2014 11:23 AM EDT2014-04-17 15:23:48 GMT
    Jimmy Buffett will take the stage once again this summer at Detroit's Comerica Park. Olympia Entertainment announced Thursday that Buffett and his Coral Reefer Band will play one night only on Saturday, July 26 with special guest John Fogerty.
    Jimmy Buffett will take the stage once again this summer at Detroit's Comerica Park. Olympia Entertainment announced Thursday that Buffett and his Coral Reefer Band will play one night only on Saturday, July 26 with special guest John Fogerty.
  • Body found in Lake Erie, crews look for 3 missing

    Body found in Lake Erie, crews look for 3 missing

    Thursday, April 17 2014 11:15 AM EDT2014-04-17 15:15:54 GMT
    The U.S. Coast Guard says the body of a missing boater has been found in Lake Erie and they're continuing to search for three others off the Ohio shoreline.
    The U.S. Coast Guard says the body of a missing boater has been found in Lake Erie and they're continuing to search for three others off the Ohio shoreline.
  • Police: Break-in suspect shot, dies after crash

    Police: Break-in suspect shot, dies after crash

    Thursday, April 17 2014 10:54 AM EDT2014-04-17 14:54:57 GMT
    Detroit police say a break-in suspect who was shot by homeowner has died after crashing a getaway vehicle into a nearby home on the city's west side.
    Detroit police say a break-in suspect who was shot by homeowner has died after crashing a getaway vehicle into a nearby home on the city's west side.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

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