troy, michigan

Detroit-area Condo Project Halted

Filed under: Estates

Seems the good news about Detroit-area condos isn't universal. A promised high-rise in Troy, Michigan has been scrapped. The Monarch Condominiums, which we first learned about in March, would have been a pair of condominium towers with 165 units. According to an article in the Detroit Free Press some buyers had combined units to create million-dollar homes but not enough people had bought in the more modest $400,000 to $800,000 range to make the project profitable. The developers hope to perhaps move forward at a later date, perhaps after the drastically dipping condo market recovers.

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Tags: condo, detroit, michigan, real estate, troy