Olympia Development Co-Developer Program Selects Woodborn Partners to Restore The Woodstock

Olympia Development of Michigan has selected Detroit-based Woodborn Partners to pursue the restoration of the historic Woodstock buildings at 475 Peterboro Street in The District Detroit. The planned renovation of 475 Peterboro and selection of Woodborn is part of Olympia Development’s Co-Developer Program, a program that creates real estate development opportunities for Detroit-based, Detroit-headquartered, or Detroit resident-owned development companies.

“Our goal with the Co-Developer Program is to work with community-minded partners who share our commitment to improving Detroit, and Woodborn exemplifies that spirit,” said Keith Bradford, President, Olympia Development of Michigan and The District Detroit. “Our shared vision for the restoration of the Woodstock buildings helps to ensure the return of another great community asset for people to embrace all that The District Detroit has to offer.”

The selection of Woodborn Partners for the Woodstock restoration embodies the mission of the Co-Developer Program envisioned with The District Detroit Neighborhood Advisory Committee. Woodborn Partners is an emerging, Black-owned, Detroit-based developer with several successful residential projects in the city underway or completed. They include The Scott at Brush Park, The Coe at West Village, The Brooke on Bagley and Van Dyke Village Apartments.

“We are dedicated to improving neighborhoods and making a positive impact in the communities we serve, and restoration of the historic Woodstock buildings will do exactly that,” said Clifford A. Brown, Co-Founder, President and CEO of Woodborn Holdings. “The newly restored residential buildings will show our appreciation for their historic beauty with amenities and technology that will embrace a timeless aesthetic.”

475 Peterboro Street was designed in the Beaux-Arts style by the architectural firm Pollmar & Ropes and opened in 1914 as The Woodstock Apartments. The building is 47,500 square feet and originally had 71 apartments. The property is located between Cass Avenue and 2nd Avenue across from Detroit Shipping Company.

The vision for the restored Woodstock buildings is 56 well-appointed residential studios and one-bedroom units that are slightly larger than the original spaces. When finished, the Woodstock will offer modern, technology-enabled amenities as well as common areas, a courtyard, and available on-site parking.

Olympia Development and Woodborn Partners are actively engaged in permitting and other pre-development work necessary before the start of on-site restoration.