Wagner Place draws interest from other developers

Boom in new housing, retail expected

Face of west downtown Dearborn changing as millennials move in

The shape of west downtown Dearborn is poised to change in the next several years as Ford's massive Wagner Place development spurs a boom interest in the area.

Wagner Place, a $60 million project by Ford Land Development Corp., the real estate arm for Ford Motor Co., is expected to result in about 600 of the automaker's and its suppliers' data insights and analytics employees moving there this summer through relocation and consolidation once completed.

It's a catalytic effort that will reshape the western end of Dearborn's central business district along Michigan Avenue.

Others are taking note — and taking action.

Michael Hamame, CEO of Dearborn-based Cambridge Real Estate LLC, said that in addition to his 42-unit loft apartments project on top of Bar Louie that's slated to be completed this summer, he is scouting a pair of other west downtown Dearborn sites for new housing that could accommodate Ford and supplier employees, plus others.

"We recognized the need for this prior to Ford announcing Wagner Place," Hamame said of the approximately $5 million loft project. "What we have seen that the area needs is more one-bedroom units. They are in higher demand because the area is attracting more millennials."

One of those other sites, 22022 Michigan Ave., is across the street from Wagner Place. Hamame is considering building two or three stories on top of the existing building for 18-20 new residential units.

In addition, the Southfield office of Colliers International Inc. is marketing the Nigosian Rug Co. building for sale as a mixed-use redevelopment opportunity immediately east of Wagner Place, which is on Michigan Avenue and on both the east and west sides of Monroe Street.