River Lofts nearly full in downtown Mt. Clemens

Check one, two. Check, check. That's what developer Ted Schollenberger hopes he say soon about his River Lofts project in downtown Mt. Clemens. There are only two units left for sale or lease in the 24-unit project.

"Those are almost gone," says Schollenberger, who is also chair of the Mt. Clemens Downtown Development Authority.

The River Lofts originally started off as a for-sale-only development with the first 14 units quickly snapped up. Then words like sub-prime and foreclosure sent the housing industry into a depression-like economic state.

Shortly after it became clear new housing units wouldn't be selling as quickly, Schollenberger began offering the rest of the units as rentals earlier this year. That led to a flood of new residents.

The building is located at 98 N. Gratiot Ave. and overlooks the Clinton River. The units range in price between $149,000 and $350,000 for sale or $1,000 to $1,500 a month to lease. The lofts have open floor plans and range in size from 950 to 1,400 square feet. Each has 17-foot ceilings, access to the Clinton River, and a heated garage.

Schollenberger's started the development a few years ago by renovating an underutilized building with a large parking lot. He restored the building to residential status then built new lofts on the parking lot area. He is doing the same thing with the New Street Lofts, which was an old downtown church.

For information, call (586) 206-3270.

Source: Ted Schollenberger, developer of the River Lofts
Writer: Jon Zemke

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River Lofts nearly full in downtown Mt. Clemens

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