Location, luxury and lots of money are the key components in the $80 million Brookside Terrace development going up on North Old Woodward in downtown Birmingham.
The five-story building overlooks the Rouge River and will include 28 condominium units that start at $1.7 million – or north of $875 per square foot. Developer Matt Shiffman said there’s nothing comparable in the Michigan marketplace in terms of price and polish.
“I think we tested the boundaries within the real estate market in Michigan when we broke through a glass ceiling from a price-per-square-foot basis,” he said about the project. “Overall, we’ve pre-sold 50 percent of the building. The results we’re getting at this level, with steel just going up two weeks ago, is unheard of.”