DETROIT, MI - Amid the build-out of its new Ann Arbor location, Shinola, a Detroit-based watch, bicycle and leather goods maker, announced there will be a new bike model produced at the Detroit workshop.

The company's first single-speed bicycle, The Detroit Arrow, will be available in March.

It will cost $1,000, about $950 less than the company's next-cheapest model.

Shinola currently makes two other bicycle models, The Runwell, and 11-speed, and The Bixby, a three-speed, both of which are available in men's and women's designs.

The Detroit Arrow will also be available in men's and women's models. The bike features a steel frame designed in collaboration with Waterford Precision Cycles of Wisconsin.

There are two color options for the bike, black or white.

As with all Shinola products, The Detroit Arrow will be hand-built by the company's bike specialists. The design includes a Shinola leather seat, cork grips, fenders and a chain guard.

Click here to see The Detroit Arrow

According to a release, each part of the bike is "fitted by hand and tested for quality precision. This close attention to detail ensures that every bicycle that ships from our Detroit workshop delivers impeccable reliability and craftsmanship."

The success of the other two bike models prompted a third go-around.

"We wanted to extend our bicycle collection with a model that has all the design DNA of the original models but at a more accessible price point," Shinola's Sky Yaeger said. "Like all Shinola bicycles, The Detroit Arrow meticulously features the highest quality components and custom-level touches that make for an incredibly smooth, comfortable and responsive ride."

Shinola, which started in Detroit in 2011, prides themselves on their handcrafted watches, bikes and a slew of leather goods like wallets, journals and pet accessories.

Since opening their flagship store at 441 West Canfield in Midtown, the company has opened six other stores around the world, which includes locations in London, Los Angeles and Washington, D.C.

An Ann Arbor store is expected to open this spring.

Shinola's well-verbalized mission since it was launched in 2011 by Fossil founder Tom Kartsotis has been to return manufacturing to the United States, with Detroit as its production epicenter.

The company is based in the College for Creative Studies, where it produces watches. In May 2014, it opened a 12,000-square-foot leather factory there, employing around 260 workers.

Ian Thibodeau is the entertainment and business reporter for MLive Media Group in Detroit. He can be reached at ithibode@mlive.com, or follow him on Twitter.