There’s a new plan for failed Birmingham luxury condos
JC Reindl
A failed luxury condominium development in downtown Birmingham has a new owner and will be converted into one-bedroom apartments, although its two early condo buyers get to stay.
The three-story building at 400 S. Old Woodward Ave., formerly known as The Forefront, was purchased this month by real estate company Barbat Holdings, which announced plans Thursday to do a full redesign that will carve out 30 new one-bedroom rentals.
The apartments are expected to be ready by winter 2021.
The company declined to provide estimated asking rents.
The apartment conversion represents a dramatic change for the still-new building. The Forefront opened in 2017 on the site of a former art supply store, offering 10 condos with prices starting at $1.7 million and ranging from 2,500 square feet to 5,100 square feet.
But only two of those condos sold.
The building fell into receivership in December 2018 after the project’s original developer, Joseph (Joey) Jonna of Jonna Luxury Homes, defaulted on a $7.3 million construction loan.
Barbat Holdings bought the property this month for $6.75 million and will rename it Birmingham Houze, according to a company representative.
Barbat Holdings has developed or renovated a half-dozen other residential properties in Detroit and Ann Arbor in recent years.
“We studied the market and realized there is a gap for one-bedroom, efficient-sized units,” Joe Barbat, chairman of Barbat Holdings and its Houze Living brand, said in a statement. “Birmingham Houze will offer the young professional or even the empty-nester an opportunity to live in beautiful downtown Birmingham with the luxury finishes expected in this vibrant neighborhood.”
Barbat Holdings plans to relocate its headquarters from West Bloomfield to part of the building’s second floor. The building’s other commercial tenant, M.A. Engineering, will stay on the ground floor.
Joey Jonna did not respond to a message seeking comment.
Contact JC Reindlat 313-222-6631 jcreindl@freepress.com. Follow him Twitter@jcreindl.
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