TROY, Mich. - With the opening of its new upscale apartment complex, Farmington Hills, Mich.-based Village Green Cos. intends to bring the ritzy atmosphere of Chicago's Gold Coast or Manhattan's Upper East Side to metropolitan Detroit. This month the first residents are scheduled to move in to Regents Park of Troy, a 20-acre, 299-unit complex in Troy, Mich., designed for affluent renters of "baby-boomer" age and older.
Among the notable features of the community are lavish European gardens and an array of service amenities, such as a full-time concierge, who will make Regents Park resemble an upscale hotel. "Everything you can receive at a hotel, you can receive here, except for room service," says Timothy Smith, vice president of Village Green Cos. For example, the concierge will be able to make a no-wait reservation at a nearby restaurant or arrange a private showing of jewelry in an area store, adds Smith. There will also be a personal valet program, through which residents can hire apartment staff members to hang a picture or unload groceries.
Base rents will range from approximately $1,100 per month to $3,300 per month, and units will range from just under 1,000 sq. ft. to 2,500 sq. ft. in size. The complex will offer one-, two- and three-bedroom units; a total of 13 different floor plans will be available, including a two-story penthouse with three bedrooms and two-and-a-half baths.
Regents Park has a two-story, 10,000 sq. ft. clubhouse that contains an indoor pool, year-round conservatory and library with a fireplace. Other amenities include an outdoor pool, underground parking garage and security systems in each unit.
By May 2001, all 299 units should be complete, says Smith. A planned second phase of 45 to 60 units could also begin as early as next May, he adds.
Village Green is looking at other Midwestern markets such as Chicago, Minneapolis and Cleveland for opportunities to build other Regents Park complexes, says Smith. "If an opportunity presents itself, we would certainly take it," he says, adding it is "very likely" the company will find suitable sites in at least some of those areas.