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A pair of downtown affordable senior housing buildings will remain that way even after being acquired by a joint venture between Detroit-based developer The Roxbury Group and Invest Detroit.
Totaling 165 units, the deal to buy the Industrial State Bank Building and the Stevens Building north and south of Grand River Avenue on Washington Boulevard closed Thursday, according to the buyers.
Previously owned by Gilbert "Buzz" Silverman, the early 20th century buildings are expected to undergo about $10 million in improvements to individual units, common areas and building systems, said David Di Rita, principal of Roxbury.
There are 127 units in the Industrial building, which stands 22 stories at the northeast corner of Washington and Grand River and was designed by architect Louis Kamper, who designed the Book-Cadillac Hotel, the Book Tower and Broderick Tower.
It is expected to be renamed the Louis Kamper Building.
The Stevens Building is the smaller...