The Sterling of Grosse Pointe, a luxury retirement community, has been
announced as a component of the $85 million redevelopment of the
Jacobson's site on Kercheval. The development will also include retail
such as Trader Joe's, and the city plans to rebuild the existing
parking deck and will issue an RFP for development of the existent
parking lots.
Excerpt:
The Sterling, at Kercheval and St. Clair, plans to open in the fall of
2009. The English Tudor-style retirement community has deposits from
buyers for more than 70 percent of the 79 units, said Sherrie Harder,
general manager. With prices starting at $400,000, the strategy is to
attract affluent buyers from the Grosse Pointes who want to remain
close to family, friends and doctors and like the idea of living in a
downtown shopping district. A handful of units will be priced at just
over $1 million.
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