Privé Group is developing Parkside at Corktown, a boutique multifamily townhome community in Detroit’s historic and rapidly transforming Corktown neighborhood. The project will deliver 18 modern rental townhomes across four buildings, strategically positioned to benefit from the $740M Michigan Central Station innovation hub and the broader revitalization of the area.

Parkside offers three-bedroom residences with two full bathrooms and one half bathroom, spread across three levels with private entries, open-concept kitchens, and abundant natural light. Select residences will include rooftop terraces.

In a supply-constrained rental market with occupancy above 95%, Parkside will stand out as one of the most affordable new-construction 3BR/2BA rental options in Corktown, with projected monthly rent of $3,360. Built for long-term ownership, the project is designed to generate stable rental income and attract strong tenant demand.

PROJECT DETAILS

Address: 1429 17th Street, Detroit, MI 48216

Units: 18 Townhomes (4 Buildings)

Land Size: 24,830 sq ft

Zoning: R2 – Residential Multifamily

Unit Size: 1,201 – 1,246 sq ft

Completion: December 2027

Tipology: 3 Bedrooms | 2 Full Baths | 1 Half Bath

DETROIT’S MOST AFFORDABLE NEW 3-BEDROOM RENTAL COMMUNITY

Parkside at Corktown will deliver 18 modern rental townhomes in one of Detroit’s fastest-growing neighborhoods. Located just three blocks from Ford’s $740M Michigan Central Station innovation hub, the project captures rising demand for high-quality housing in a market where 3-bedroom rentals are scarce and highly sought after. With projected monthly rent of $3,360, Parkside will be among the most affordable new-construction 3BR/2.5BA options in Corktown, ensuring strong tenant demand and long-term income stability.

SUPPLY-CONSTRAINED RENTAL MARKET

Occupancy in nearby Class A housing exceeds 95%, with very limited supply of larger units. Parkside meets this gap by providing competitively priced 3-bedroom residences designed for families, professionals, and corporate tenants.

MODERN DESIGN & FUNCTIONALITY

Each residence offers three levels of living space, featuring 3 bedrooms, 2 full bathrooms, 1 half bath, private entries, open-concept kitchens, and abundant natural light. Optional rooftop terraces on select corner units provide premium outdoor space and the opportunity for incremental rental revenue.

STRATEGIC LOCATION

Within walking distance of Michigan Central Station, Roosevelt Park, and Corktown’s dining and entertainment corridor, Parkside offers unmatched access to downtown Detroit and major employers such as Ford, Google, and Newlab.

SUSTAINABLE & COMMUNITY LIVING

The project integrates EV-ready garage connections, bicycle parking, a shared landscaped courtyard, and private waste/recycling facilities. These features enhance tenant experience, support sustainability goals, and add long-term operational value.

STRONG MARKET FUNDAMENTALS

Detroit’s Corktown neighborhood is undergoing a major revitalization supported by billions in private and public investment. The combination of job growth, limited rental supply, and steady absorption underpins Parkside’s rental income stability and potential, providing a secure foundation for development.

TARGET TENANTS

REASONS PARKSIDE STANDS OUT FOR RENTERS

LIMITED SUPPLY

Very few new-construction 3-bedroom rentals are available in Corktown. Parkside fills this gap with affordable, modern units.

INTEGRATED LIVING ENVIRONMENT

Walkable access to dining, entertainment, parks, and employment centers, including Ford’s Michigan Central campus.

VALUE & AFFORDABILITY

At $3,360 per month, Parkside offers one of the lowest-priced new 3BR/2.5BA rental options in the submarket.

LOCATION ADVANTAGE

Just three blocks from Michigan Central Station and minutes from Downtown Detroit, Google, and Newlab.

MAIN TENANT PROFILES

FORD & TECH EMPLOYEES

Professionals relocating to Detroit for jobs at Ford, Google, and other innovation-sector employers seeking modern housing close to work.

CORPORATE RELOCATION CLIENTS

Tenants on corporate assignments or transfers requiring high-quality rental housing with flexible lease terms.

YOUNG PROFESSIONALS & COUPLES

Renters looking for design-forward housing in Corktown’s walkable neighborhood, with quick access to dining and nightlife.

LONG-TERM URBAN RENTERS

Residents seeking stability in a revitalizing neighborhood with modern amenities, without the maintenance burden of ownership.

FAMILIES SEEKING SPACE

Households needing 3 bedrooms, multiple bathrooms, and private entry townhomes—rarely available at this price point.

PROJECT INFORMATION

Address: 1429 17th Street, Detroit, MI 48216

Land Size: 24,830 SF (0.57 acres)

Total Units: 18 Townhomes (4 Buildings)

Unit Size: 1,201 – 1,246 SF

Typology: 3 Bedrooms | 2 Full Bathrooms | 1 Half Bathroom

Parking: 2Private garages + EV-ready connections

Building Levels: 3 Stories per residence

Zoning: R2 – Residential Multifamily

Completion: December 2027

DESIGN FEATURES

Three-level townhomes with private entries for each unit
Open-concept kitchens with island or breakfast bar
Large windows for natural light and modern design finishes
Optional rooftop terraces on select corner units (premium feature supporting higher rents)
EV-ready garages, bicycle parking, and private waste/recycling area
Shared landscaped courtyard between buildings C & D for community use

RESIDENTIAL FEATURES

Three-level townhomes with private entries for each unit
Spacious layouts with 3 bedrooms, 2 full bathrooms, and 1 half bathroom
Open-concept kitchens with modern finishes and large windows for natural light
Optional rooftop terraces on select corner units, positioned as premium features that can generate higher rental income

OUTDOOR & COMMUNITY SPACES

Shared landscaped courtyard between buildings C & D, providing outdoor space for residents
Bicycle parking and EV-ready garages support sustainable living
Private waste and recycling area ensures clean and efficient site management

COMFORT & ACCESS

Private attached garages for every unit, with EV charging capability
Walkable location near Michigan Central Station, Roosevelt Park, and Corktown’s dining/entertainment corridor
Immediate access to downtown Detroit and major employers, including Ford, Google, and Newlab

DESIGN & EFFICIENCY

Modern, energy-efficient systems and durable construction materials
Efficient layouts (1,201 – 1,246 SF per unit) maximizing livable space within a compact urban footprint

PRIME LOCATION

Located in Detroit’s Corktown neighborhood, one of the city’s fastest-growing districts, Parkside benefits from more than $740M in nearby investment at Michigan Central Station. Its location ensures consistent rental demand from professionals, families, and corporate tenants seeking quality housing close to downtown.

SITE PLAN

TYPOLOGY (SAMPLE)

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LEVEL 1

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SITE

INVESTMENT HIGHLIGHTS

PRIME LOCATION IN CORKTOWN

Parkside at Corktown is located just three blocks from Michigan Central Station, where Ford has invested $740M to create a global mobility and innovation hub. The site benefits from proximity to Roosevelt Park, Corktown’s entertainment corridor, and downtown Detroit, ensuring strong tenant demand from professionals and families seeking walkable, modern housing.

ACCESS TO LOCAL AMENITIES

Residents will enjoy immediate access to Corktown’s vibrant mix of restaurants, retail, and entertainment venues. The location also offers excellent connectivity to downtown Detroit, major highways, and employers such as Ford, Google, and Newlab, supporting consistent rental demand from both local and relocating professionals.

STRONG MARKET FUNDAMENTALS

High occupancy: Downtown Class A rentals exceed 95% occupancy
Limited supply: Few new-construction 3BR rentals available in Corktown
Affordability advantage: Parkside rent at $3,360 will be among the most competitive in the market for modern 3-bedroom townhomes

These fundamentals position Parkside as a low-vacancy, stable income-generating property, supporting loan repayment and refinancing upon stabilization.

LOCATION

The Parkside at Corktown development site is strategically located in Detroit’s historic Corktown neighborhood, one of the city’s fastest-growing and most vibrant districts.

Just three blocks from Ford’s $740M Michigan Central Station innovation hub, the site benefits from a surge of new tech and mobility jobs, with more than 5,000 high-skill positions being added to the area.

The property is within walking distance of Roosevelt Park, Corktown’s dining and entertainment corridor, and Michigan Avenue, while being only minutes from Downtown Detroit. This highly walkable location offers residents both convenience and lifestyle appeal.

Parkside also provides excellent connectivity to major employers such as Ford, Google, and Newlab, as well as Detroit’s central business district. Its location ensures strong tenant demand from professionals, families, and corporate relocation clients.

Travel time to Detroit Metropolitan Airport is under 25 minutes, ensuring convenient access for relocating professionals and business travelers.

SURROUNDINGS

EMPLOYMENT & INNOVATION HUBS

1. Michigan Central Station (Ford Mobility Campus) – 3 blocks

2. Google & Newlab – within Michigan Central campus

3. Downtown Detroit Business District – 5 minutes

4. Wayne State University – 10 minutes

PARKS & GREEN SPACES

5. Roosevelt Park – walking distance

6. Corktown Greenway (planned) – direct integration with site

7. Riverside Park – 5 minutes

RETAIL & LIFESTYLE

8. Michigan Avenue Corridor – dining, breweries, and entertainment

9. The Corner Ballpark – community and events

10. Corktown restaurants (e.g., Slows Bar BQ, Gold Cash Gold, Ima Izakaya)

HOTELS & HOSPITALITY

11. Trumbull & Porter Hotel – boutique lodging in Corktown

12. Detroit Foundation Hotel – upscale option near downtown

13. The Westin Book Cadillac Detroit – major business hotel nearby

TRANSPORTATION

14. Interstate I-75 & I-96 – 5 minutes

15. Detroit People Mover (Downtown Transit Loop) – nearby stations

16. QLine Streetcar (Woodward Ave.) – connects to Midtown & New Center

17. Detroit Metropolitan Airport (DTW) – 25 minutes

CORKTOWN MARKET OVERVIEW

DETROIT’S FASTEST-GROWING RESIDENTIAL HUB

Corktown is Detroit’s oldest neighborhood and is now one of its most dynamic growth corridors, fueled by major public and private investment. Anchored by Ford’s $740M redevelopment of Michigan Central Station, the district is transforming into a global hub for mobility, innovation, and technology.

The area benefits from a surge of over 5,000 new high-skill jobs, attracting young professionals, executives, and families seeking modern housing options close to downtown. Demand for quality residential units continues to outpace supply, with Class A multifamily occupancy rates exceeding 95% and rental growth remaining steady.

STRONG RENTAL DEMAND & LIMITED SUPPLY

Corktown’s rental market is marked by low vacancy and limited new construction, particularly for three-bedroom units. With most competing properties offering only smaller apartments or oversized luxury homes, Parkside fills a crucial gap by delivering efficient, modern layouts with 3 bedrooms and 2.5 bathrooms at an accessible price point.

BROADER DETROIT MOMENTUM

The greater Detroit metro area is also experiencing sustained growth, driven by corporate expansions, infrastructure investment, and population shifts back into urban neighborhoods. These factors are fueling demand for well-located, design-forward rental housing that meets the lifestyle preferences of today’s workforce.

COMPARABLE SPACES

SUMMARY OF COMPARABLE SPACES

Upon completion, Parkside at Corktown will launch with a monthly rent of $3,360 for its three-bedroom, 2.5-bath units. This pricing places Parkside at the lowest end of the current market for comparable three-bedroom units in Corktown - matching the most affordable active listing today.

MARKET ANALISYS

Corktown is experiencing a surge in rental housing demand, driven by major investments like Ford’s Michigan Central Station redevelopment and the growing presence of Detroit’s tech, mobility, and creative industries. As development opportunities tighten across Corktown and surrounding neighborhoods, demand continues to shift toward well-designed, larger rental units.

Today, comparable three-bedroom homes in Corktown typically rent for $3,600 to $5,650 per month, with many offering larger — and often less efficient — layouts. Upon completion, Parkside at Corktown will deliver three-bedroom, 2.5-bath units sized between 1,200–1,250 SF, launching at $3,360/month. This positions Parkside at the most affordable end of the current three-bedroom market, while offering modern design and private garage parking.

At the same time, vacancy in high-end multifamily rentals across Detroit remains low. City housing data points to a widening gap between what renters are seeking — especially families needing more space — and what new developments tend to provide: smaller units with fewer bedrooms.

Together, these trends position Parkside as a rare and differentiated offering: spacious, family-oriented rental housing at a competitive price point, in a high-demand neighborhood with strong leasing fundamentals and limited direct competition.

The occupancy rate in Greater Downtown Detroit was 96.4% at the end of the second quarter of 2023. The average rent increased from $2.50 to $2.70 per square foot, quarter over quarter and has risen by $0.21 per square foot over the past five years. At the end of the second quarter of 2023, the average asking rent for new Class A products in Midtown and the CBD was $3.10 per square foot. Greater Downtown Detroit continues to experience significant development. Twelve multifamily developments were in progress in the Corktown and North Corktown area at the end of the quarter, representing 3,196 units.

The occupancy rate increased to 95.9% in the last quarter of 2023. This rate has never been below 94% since the second quarter of 2014.

Development continues to increase. At the end of the second quarter of 2021, there were 3,996 units under construction spread across 21 buildings. This type of growth can be attributed to various factors, including the demand for housing in central urban areas, the appeal of living close to workplaces, services, and leisure, and potentially, government or municipal incentives for housing development.

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