Exchange Building in Detroit brings high-rise condominium to Greektown

The Exchange Building in Detroit’s Greektown neighborhood is being built from the top down and will house residential and commercial space.

Things are literally looking up in the 16-story Exchange Building.

The luxurious high-rise condominium, located at 338 Gratiot Ave. in Detroit, is being built from top to bottom and is already creating buzz for its unique appearance during the early stages of construction.

Located in Greektown, the building aims to bring “home a Detroit connection in a location that merges Greektown, the central business district, and Detroit District’s entertainment venues into one central location,” according to its website.

With their motto, “Live Connected”, they aspire to live in a sustainable, green and clean environment, equipped with technology and contactless. Live Connected means relying on innovative design and construction processes.

Exchange worked in conjunction with the Greektown Neighborhood Partnership to ensure its plans aligned with its vision. As part of Greektown’s vision for the future, their neighboring site, the Randolph Plaza, will also get a makeover.

David Alexander, chief superintendent of LIFTbuild, told the Michigan Chronicle that the building is the first such construction in America.

“We are keen to prove that our concept works and its benefits,” said Alexandar. “We are finally starting to reap the rewards.

Alexander added that with the building’s location being downtown, there were underground infrastructure issues that the construction team members overcame.

“It’s a restricted site and…it wasn’t the easiest site to use,” he said of the storm and sanitary systems upload.

The project has received support from the City of Detroit, the Greektown Neighborhood Partnership and the Downtown Detroit Partnership.

The building is expected to save more than 63 million gallons of water and 18,256 metric tons of CO2. This is equivalent to eliminating the energy consumption of 2,107 homes for each of the 25 years of the project.

Twenty percent of the apartments will be available to households earning no more than 80% of the region’s median income, which means a single person must earn less than $50,160 or a family of two must not not earn more than $57,280 per year to qualify. Prospects/candidates will be qualified on a first-come, first-served basis.

The LIFTbuild technology used at Exchange is attracting media attention across the country. With the two floors of condos and the two floors of apartments lifted and locked in place, the construction team prepares for the next elevator. The project is expected to be completed in late spring 2023.

WXYZ reported that the building, described as “the first of its kind in North America,” stands 207 feet tall and uses the prototype for the LIFTbuild technology, described as a system that turns a construction site into a manufacturing plant.

“We don’t put people on beams 100 feet in the air that have to be tied down. We try to eliminate all fall hazards. That’s our number one goal, to eliminate hazards, eliminate inefficiencies on site,” LIFTbuild’s Joe Benvenuto said in the article.

Benvenuto added that the $64 million tower is supported by two concrete structures described as the spine.

“It’s a fully cantilevered design and there are no columns on the exterior glazing, so if we go up to the floors you’ll see a wide open floor space, that’s great for residents but also assembled in a way that is very efficient for the workers,” he said in the article.

Each floor is built on the ground using more than 150,000 pounds of steel and 110 cubic meters of concrete, according to the article, which adds that when complete, it is lifted at an average speed of 25 feet per hour.

“If you look now you can see all the ductwork, plumbing, fire protection and fireproofing, all of that was done here,” Benvenuto said in the article.

“Land is at a premium and city development has to happen in a much denser environment, this kind of technology helps us accomplish that as well as reduce labor demands and hopefully shorter lead times and more economical budgets,” he added in the story.

Nicole Bentley, regional property supervisor, told the Michigan Chronicle that on behalf of property management, the building will provide a “distinctive experience” to the neighborhood.

“They’re going to offer a wide range of amenities for residents,” Bentley said of a tech gym, fitness room, lounge, outdoor patio, and “incredible views.” “.

“It’s also going to be pet-friendly,” she said of the high-rise living environment that encompasses a “very distinctive experience like no other in Detroit.”

“It’s amazing,” Bentley said of the top-down construction technology. “Seeing it take shape is definitely an amazing project to be involved in.”

When completed, Exchange will be primarily a residential tower with multiple commercial locations on the first floor with an expected completion date of late spring 2023.

For more information, visit exchangedetroit.com.