NOVI — Developers are planning a $45 mill
ion apartment complex in Novi that's more apt to be seen in Detroit or Atlanta.
The luxury midrise development style, traditionally favored in urban areas, offers a range of amenities and aims for a community vibe, at a higher price.
Co-developers Lansing-based DTN Management Co. and Farmington Hills-based Tricap Holdings got the Novi City Council's OK on Monday for the four-structure project, DTN Chief Investment Officer John Woods said.
"I really think you're gonna start to see more and more of this product introduced in the Novis of the world, probably Rochester," Woods said. "Walkability, as opposed to a traditional, suburban, two-story apartment complex."
The development is just south of Twelve Oaks Mall, I-96 and Novi Town Center. It would have 253 apartments in two four-story buildings, with attached parking and a 5,600-square-foot commercial building.