The Marquette Companies, a Naperville, Ill. based real estate investment and property management firm, repositions Fairlane Woods, a 288 unit apartment community in Dearborn, Mich.
Originally developed by Marquette in the 1980s, Fairlane Woods Estate Apartment Homes was designed as the executive housing for Ford Motor Company on a 143 acre forested site near Ford’s world headquarters. The location features 1, 2 and 3 bedroom apartments ranging from 824 to 1505 sq ft.
Nearly 25 years later, Marquette proudly unveils a contemporary new look at Fairlane Woods. Interior renovations average $12,500 per unit and include stainless steel appliances, granite countertops and new cabinetry. Plus an impressive $500,000 clubhouse renovation project and a full exterior overhaul totaling over $1.1 million, including new lighting, paint, windows and sliding glass doors. Renovated units are currently renting at $1,600 to $2,200 per month.
Fairlane Woods features a full suite of residential amenities including a swimming pool, fitness center and business center. In addition to Marquette’s signature We C.A.T.E.R. service program, the community also features a Community Life Program which provides resident events and a complimentary continental breakfast.
Marquette’s successful renovation program at Fairlane Woods Estate Apartment Homes is the latest addition in their long line of successful development and value add opportunities in Michigan.
“It is a great feeling to be able to return Fairlane Woods to its original grandeur, making it one of the premier apartment communities in Southeast Michigan,” says Nick Ryan, co-founder and CEO of Marquette Companies. “Fairlane is a great option for those who work in downtown Detroit, as well as the suburban area. Imagine living in the woods only 15 minutes from downtown!”
