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New Detroit High-Rise Sets the Bar with $4,000 Monthly Rent for 1-Bedroom Apartment

CEO Khai Intela
A brand new 25-story glass high-rise has just opened its doors in downtown Detroit, offering breathtaking views of the riverfront and city skyline. The Residences at Water Square, developed by Detroit-based Sterling Group, is a...

A brand new 25-story glass high-rise has just opened its doors in downtown Detroit, offering breathtaking views of the riverfront and city skyline. The Residences at Water Square, developed by Detroit-based Sterling Group, is a luxury apartment building boasting 496 units and a range of upscale amenities. However, what sets this development apart is its rental prices, which are some of the highest in the market. With monthly rents starting at over $4,000 for a one-bedroom apartment, this high-rise is truly pushing the boundaries of luxury living.

A Unique Development

Unlike most new developments in Detroit, The Residences at Water Square was built without any tax breaks or incentives. This is an unusual feat in the city, where such assistance is typically sought to bridge the gap between construction costs and attainable rents. Thanks to the contributions of union construction labor and the absence of local tax breaks, all 496 apartments are market-rate units, with no required set aside for affordable housing. This commitment to market pricing reflects the high quality and luxury lifestyle offered by the development.

The Residences at Water Square The Residences at Water Square - An Impressive High-Rise

Unprecedented Construction Speed

Detroit Mayor Mike Duggan praised the astonishing speed at which The Residences at Water Square was built. Speaking at the grand opening event, he marveled at the completion of a 25-story building in under two years. The project's developer, Sterling Group, achieved this remarkable feat by employing novel construction techniques, including standardized prefabricated concrete framing. Cooperation from the city of Detroit and Wayne County also played a crucial role in cutting through red tape and ensuring a smooth development process.

The People Mover The Residences at Water Square - A Landmark in Detroit

A Premium Living Experience

The Residences at Water Square offers residents a world-class living experience. From valet parking to an indoor swimming pool, a full fitness center to a rooftop lounge, every aspect of this development exudes luxury and sophistication. Additionally, a future cafe is planned, creating a space that not only caters to residents but also welcomes the public. With upscale urban loft-style units, featuring floor-to-ceiling windows and exposed ductwork, The Residences at Water Square epitomizes modern living at its finest.

Living Room and Dining Area Inside a One-Bedroom Corner Apartment at The Residences at Water Square

A Testimony to Sterling Group's Vision

The Sterling Group, led by founder Gary Torgow, has been instrumental in numerous high-profile development and redevelopment projects in Detroit. Its commitment to the city's revitalization has been unwavering, even during uncertain times. The completion of The Residences at Water Square is yet another testament to their vision and dedication. The Sterling Group's portfolio includes notable projects such as the Huntington Tower, Marquette Building renovations, and the Guardian Building. Their investments have contributed significantly to the renaissance of downtown Detroit.

Observation Area The Residences at Water Square - A Panoramic View of Detroit

The Residences at Water Square at a Glance

  • Size: 25 floors, approximately 300 feet in height.
  • Units: 496 market-rate apartments, predominantly studios and one-bedrooms, with two-bedroom penthouses on the 25th floor.
  • Amenities: All-season swimming pool, rooftop terrace, fitness center, valet parking, pet grooming station, bike storage, and convenient access to the nearby People Mover station.
  • Rent Levels: Generally considered top of the market in Detroit. More details available at Watersquareresidences.com.
  • Development Cost: Not disclosed. No tax breaks or incentives were utilized.
  • Developer: The Sterling Group
  • Architect: Neumann/Smith
  • General Contractor: Colasanti Construction Services

The Residences at Water Square not only transforms the skyline of Detroit but also sets a new standard for luxury living. With its unparalleled views, upscale amenities, and prime location, this high-rise offers a lifestyle like no other. While the rental prices may be at the top end of the market, they reflect the exceptional quality and exclusivity of this remarkable development.

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