For McCormack Baron Salazar, the connection to Detroit is personal. Richard Baron, co-founder, chairman and CEO of McCormack Baron Salazar, has deep roots in his hometown of Detroit. His grandparents immigrated to Detroit from Russia and Poland. His parents attended Wayne State University and his father’s insurance business was in downtown Detroit for decades. Richard himself grew up running errands for his grandmother’s woolens store – located ten blocks from the Orleans Landing site.
Located on just under eight acres, adjacent to the central business district of Detroit, Orleans Landing is a mixed-use community with 278 market rate apartments. 56 of the units will be set-aside to be affordable to residents earning up to 80% of the area median income. The community has a variety of one-bedroom and two-bedroom homes, including flats, hybrid retail/lofts, and townhouses, all sustainably built to Enterprise Green Community criteria standards and Energy Star for Homes certified. The site is nestled between GM’s 10,000 employee Renaissance Center headquarters and Stroh Place, a 25-acre, mixed-use historic development. It is also located directly adjacent to the $135 million Detroit River Walk and the Dequindre Cut Greenway bike trail. Located with direct access to the riverfront, the community has expansive views of the river, of the Windsor, Canada skyline to the south and of downtown Detroit to the northwest. The $65 million project was financed through conventional FHA 221 (d) 4 debt, a two-tier equity structure, and public funds.
Detroit gave Richard Baron his first impressions of what a thriving metropolis looks like and, as the city began to decline, his first experience with the toll of blight, disinvestment, segregation and neglect. Orleans Landing represents a true “full circle” for Richard Baron and for the company.
For leasing information at Orleans Landing, click here.