Investment Opportunities

Groundbreaking Real Estate is excited to bring you the Grosse Pointe – School Redevelopment Project investment opportunity.

Property Overview:

• Offering name: School Redevelopment Project
• Location: Grosse Pointe, MI
• # of Units: 26
• Average Cash Flow: 12-14%
• Projected Average Annual Returns: +18%
  • Note: Projected returns include Federal IRS Historic Tax Credits allocated to investors.
• Minimum investment accepted: $30,000
• Address of the property: 389 St. Clair Ave, Grosse Pointe, MI 48230

Why We Love This Investment:

• Optimal Location – Across the street from Beaumont Hospital, an eight-minute walk to a historic village area with high-end stores/restaurants (Kroger, Trader Joes, Starbucks, lululemon, etc.), and 20-minute drive to Detroit central.
• Tax credits – We are keeping the historic preservation of the school intact while converting it to luxury apartments. We will receive tax credits that will be passed to investors to reduce certain taxable income.
• Quick capital returns – The ground-up development of 8 luxury townhomes to be resold as condos should enable us to return 30-40% of investors’ original capital in the first 18 months.
• Low Competition – The property is in a residential neighborhood with many +$1M homes nearby. There are very few apartments in the area, so we expect to attract new renters not able to live in the area in the past.
• Team– GRE is partnering with GSH Group, a well-established commercial real estate operator in the Detroit area with over $1B of assets managed. Construction is headed by Brian Giles and Michael Weiss, who are best-in-class adaptive reuse developers.