A new developer of for-sale residences is being brought in on the proposed Pullman Parc project in Detroit's Elmwood Park neighborhood.
Bloomfield Hills-based Robertson Bros. Co. is in the process of purchasing a portion of the property from Farmington Hills-based Hunter Pasteur Homes, which had planned 81 units for sale with prices ranging from $250,000 to more than $750,000.
Randy Wertheimer, CEO of Hunter Pasteur, declined to say why his company is selling its portion of the site.
"We expect a closing before Thanksgiving and they intend to start vertical construction shortly thereafter," Wertheimer said Friday morning.
A message seeking additional information was left with Paul Robertson, CEO of Robertson Brothers.
Pullman Parc is at 1100 Saint Aubin St. at East Lafayette on the site of the former Friends School, which was torn down beginning in February 2019. A fence and scrim have encircled the property since.
Wertheimer said things like environmental remediation, site grading and underground utilities have been completed.
"It's ready for vertical construction," he said.
In addition to the for-sale homes, an apartment component with 180-200 units is anticipated to be jointly developed by Detroit-based developers Broder & Sachse Real Estate Services Inc. and Woodborn Partners LLC.
Richard Broder, CEO of Broder & Sachse, said Friday that the companies are working on budgeting and planning for the project and that a construction timeline on the apartment component hasn't yet been determined.
"I couldn't say we are going to be out of the ground on X date with brackets," he said.
The three developers purchased the 4-acre site in March 2018 for $2.375 million, according to CoStar Group Inc., a Washington, D.C.-based real estate information service.
The school was Michigan's only Quaker school, but closed due to financial struggles in 2015.
Robertson Brothers is the co-developer behind The Towns at The Corner in the Corktown neighborhood, which has 34 condominiums for sale with Bloomfield Hills-based Larson Realty Group.
Hunter Pasteur has been working on the City Modern project in Brush Park with Dan Gilbert and has proposed a $45 million Godfrey Hotel in the Corktown area on Michigan Avenue.
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Hunter Pasteur selling portion of Pullman Parc development site to Robertson Bros. - Crain's Detroit Business
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