A $150 million mixed-use development officially has opened just west of downtown in Detroit's Corktown neighborhood.

Mayor Mark Duggan's office says Elton Park's first phase was completed in just over two years and includes 151 residential units and more than 11,000 square feet (1,021 square meters) of retail space. More than 70% of the apartments have been leased.

Duggan says "what had been for years a sea of parking lots and a large vacant building is now a beautiful new residential anchor and public space in Detroit's oldest neighborhood."

Soave Real Estate has committed to allocating 20% of the residential units as affordable housing.

Duggan's office says future phases of Elton Park have the potential to bring an additional 275 to 350 additional residential units and retail to the neighborhood.

