Crain's Detroit Business fills in the details on the transition of the Milner Hotel to residential, a story Deadline Detroit broke in October.
Ryan Felton reports the Milner, a 10-story building that closed its doors in October, has been purchased by local investor Matt Lester, who plans to convert it into high-end apartments and rename it as The Ashley.
Lester is president of the Bloomfield Hills-based Princeton Enterprises LLC. Lester purchased the 10-story building with one other investor, according to Michele Dreer, director of marketing and communications at Princeton management.
In addition, Dreer said that Lester has purchased the nearby 44-unit Claridge House Apartments at 1514 Washington Blvd. Both buildings are near Comerica Park and Ford Field, among other downtown attractions.
Plans call for the former Milner Hotel to be converted into about 50 high-end luxury apartments including studios, one- and two-bedroom apartments, and penthouses.
