Peter Cummings, son-in-law of the late billionaire Max M. Fisher, has big plans for Detroit.
Detroit News columnist and editorial page editor Nolan Finley reports that Cummings on Monday will announce a new development company, The Platform, that will invest $250 million to create 1,000 new apartments in Midtown, TechTown and New Center. They will be in walking distance to the QLine rail system on Woodward.
The housing will be a mixture of rehabs and new construction, with roughly 150,000 square feet of commercial space. The company, a partnership with Dietrich Knoer, will start with five buildings.
Finley writes:
Cummings’ investment is affirmation that the QLine will be more than a People Mover-style toy. He believes it will fulfill its mission of connecting New Center, Midtown and downtown in a contiguous avenue of commercial and residential developments.
