A developer is planning to transform the former Busy Bee Hardware building in Detroit’s Eastern Market into mixed-income housing.
Developer Roger Basmajian, CEO of Basco of Michigan, on June 17 presented his firm’s $12 million plan for redeveloping a block of commercial buildings that had been the hardware store into 17 new apartments with ground-floor retail space.
The buildings date to the late 1800s and run from 1401 Gratiot to 1417 Gratiot. They have been vacant since Busy Bee closed in 2017 after 100 years of business.
Basmajian pitched his firm’s redevelopment plan during a Wednesday night public hearing before the Detroit Brownfield Redevelopment Authority. Basco is seeking a Brownfield incentive that would capture $2.2 million in future taxes generated at the redeveloped site for 30 years. Brownfields are common development incentives in Detroit.
Four of the 17 apartments would be “affordable” units, set aside at reduced rents for those with incomes at or below 80% of the area median, which is $58,720 a year for an individual.
The other units would have rents conducive to workforce housing, aimed at individuals earning about 120% of area median income. In total, there would be nine one-bedroom units, three studios and two two-bedrooms, planning documents show.
If Detroit City Council signs off on the Brownfield later this summer, construction could begin in the fall and finish in late 2027 or early 2028, he said.
“We’re very excited to finally put a shovel in the ground,” Basmajian said.
Besides Busy Bee Hardware, other past occupants of the buildings were K & L Meats, H & J Supermarket and Detroit Findings & Leather Co., according to planning documents.
“We’re happy that we figured out how to save the buildings,” Basmajian said. “I’m a big proponent of saving whatever’s historic that we can, because demoing and clearing things up, you lose history.”
The developer also anticipates applying for historic tax credits and an “OPRA” abatement that would freeze the site’s property taxes for a period of years.
One nearby resident, Kenyetta Walker, recalled how she used to shop at Busy Bee and said she likes the redevelopment plan for the buildings.
“I’m excited to see something being done with the space,” Walker said.
Contact JC Reindl: 313-378-5460 or jcreindl@freepress.com. Follow him on X @jcreindl
This article originally appeared on Detroit Free Press: Eastern Market’s old Busy Bee Hardware site set for $12M housing plan
Reporting by JC Reindl, Detroit Free Press / Detroit Free Press
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By JC Reindl, Detroit Free Press | USA TODAY Network
