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August 22, 2018

Kraemer Design Group to work on Park Avenue project in Detroit, US

Al-Sharif Holding Group has signed a long-term financing agreement with the National Bank of Egypt (NBE) for approximately $62.5m (EGP978.2m) loan to upgrade the Shepherd Hotel in Egypt.

US-based architecture, interior design and creative firm Kraemer Design Group (KDG) has been selected for the renovation project of the 12-storey Park Avenue Building in Detroit.

KDG will serve as the architect, designer and historical consultant for the project and redevelopment plans are still in the initial preparatory stages.

Located at 2001 Park Avenue at West Adams Avenue in Grand Circus Park, the 104,500ft² building was part of Park Avenue Association and first designed by Albert Kahn in 1922.

As part of the deal, the company will transform the former office building into a mixed-use project with upscale and refined apartment residences, reported media sources.

“Our team has the right expertise and innovation to bring new life to this nearly century-old building.”

These apartment residences will be designed above 5,000ft² of first-floor retail and KDG’s design is expected to include façade and fire escape rehabilitation, as well as stabilise neglected historic elements of the building.

Along with the company’s team, senior project architect Laura Cunningham will work in partnership with developer and Michigan-based Infinity Homes owner Rino Soave, who acquired the building in April.

Kraemer principal Bob Kraemer was quoted by business journal dbusiness as saying: “As part of Detroit’s Grand Circus Historic District, the Park Avenue Building is among several in-progress projects currently in our portfolio that will be restored, ensuring more parts of Detroit history are preserved for future generations to enjoy.

“For more than 20 years, we have played a role in the historic preservation of buildings that have been essential to Detroit’s revitalisation, and our team has the right expertise and innovation to bring new life to this nearly century-old building.”

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