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Downtown Detroit is buzzing, and not just from construction noise. As the long-awaited skyscraper rises on the old Hudson’s department store site, details are emerging about its ultra-luxury condos, and they’re turning heads across the city. With asking prices around $1,000 per square foot, a figure unprecedented in Detroit’s condo market, these homes could become the priciest ever sold in the city. For context, that price tag is more than triple the typical downtown condo rate (around $330 per square foot). In simple terms, many of the planned 96 units will likely top $1 million each, setting a new high-water mark for residential real estate in the Motor City. It’s an audacious bet by Dan Gilbert’s Bedrock development firm, and Metro Detroiters are watching closely: Can a city known for grit and comeback spirit embrace a sky-high luxury lifestyle?
Hudson's Detroit, Facebook
A New Era of Luxury Living Downtown
The forthcoming condos, branded “The Residences at The Detroit EDITION”, promise to redefine upscale living in the heart of Detroit. They will occupy floors 26 through 45 of the Hudson’s site tower, perched above a planned Edition Hotel in the same building. (Edition is Marriott’s boutique luxury hotel line conceived by famed hotelier Ian Schrager, of Studio 54 fame.) Each residence is designed to feel like a five-star experience atop the city skyline. Bedrock has tapped Yabu Pushelberg, an internationally renowned design studio, to craft the interiors, signaling that no expense will be spared in style and finishes. Future owners can expect features and amenities on par with the world’s ritziest high-rises, a first for Detroit.
What makes these condos so special? For starters, the building itself is Michigan’s second-tallest skyscraper (projected height ~685 feet) rising on a storied site. Longtime locals remember J.L. Hudson’s department store, which stood there for decades until 1998; now this same ground is giving rise to a new landmark. The tower will house Detroit’s debut Edition Hotel (the brand’s first in the Midwest) on the lower floors, with the private condos above. Residents will not only enjoy panoramic views of downtown and the Detroit River, they’ll also have access to the hotel’s luxe amenities, plus exclusive perks of their own.
Inside The Residences, everything is being built to an exacting luxury standard. Even without floorplans released yet, Bedrock has hinted at what’s in store. Notable condo features include:
- Spacious layouts with high ceilings: ~10-foot ceilings that create an airy, open feel.
- Top-tier finishes: Elegant, understated details like monolithic stone slab surfaces and rich wood accents, giving each home a modern yet warm character.
- Resort-style amenities: Residents will have their own fitness center and terrace lounge, a pool, in-residence dining service, valet parking, and more, effectively a private club in the sky.
Bedrock touts these homes as “a new standard for living in Detroit”, and it’s hard to argue with the opulence on paper. The condos are planned in a mix of sizes to attract different buyers – from one-bedroom units to sprawling four-bedroom penthouses. According to city documents, the breakdown includes 14 one-bedrooms, 56 two-bedrooms, 21 three-bedrooms, and 5 four-bedrooms, ensuring options for individuals, couples, and even families seeking an upscale urban home. And while final pricing for each unit isn’t public, the range starts around $550,000 and is expected to top out above $3 million. In other words, whether you’re eyeing a “smaller” pied-à-terre or a lavish multi-bedroom estate in the sky, be prepared to make a significant investment.
For a recent case study in downtown-adjacent demand, explore our City Modern overview in Brush Park.
Who Will Buy? – Detroit’s Luxury Market and Buyers
These record-shattering prices naturally raise a big question: who are the buyers for $1,000-per-foot condos in Detroit? After all, downtown hasn’t historically been known for seven-figure condos, quite the opposite. The average condo sale in the city center has hovered around just $300–$350 per square foot in recent years. Even the Exchange Building, a shiny new high-rise that opened in 2023 near Greektown, peaked at about $900 per square foot for its priciest unit (roughly a $1.4 million sale), and some of its dozen condos are still on the market after price cuts. So, Bedrock is essentially leapfrogging the existing market to set a new top tier.
Local real estate experts say this bold strategy is exactly what Detroit needs. “It takes a lot of daring vision to go and build a whole building for a market that doesn’t exist,” says Jérôme Huez, a Detroit broker who specializes in condos. “But that’s why we need people like Gilbert to take the gamble and move the city forward.” Huez and others believe that creating a ultra-luxury segment could elevate the entire market, attracting wealthy buyers and new investment that might not have considered Detroit before. In essence, if you build it (at the highest quality), they might come.
So who are “they”? Likely a mix of well-heeled locals and outsiders:
- Metro Detroit elite: There is already a small “super-luxury” condo scene in the suburbs. In downtown Birmingham, for instance, an affluent enclave 15 miles north, a few luxury condos have sold for over $1,000 per square foot in recent years, with sale prices between $2 million and $5 million. Those buyers proved that Metro Detroit has residents willing to pay top dollar for the right product. Some of these could be empty nesters or business owners who might consider a move (or second home) downtown if the offering is compelling enough.
- Suburbanites seeking a pied-à-terre: One trend seen in nearby developments (like the City Modern townhomes in Brush Park) is suburban families or professionals buying a second place in the city. They might live primarily in Bloomfield Hills or Grosse Pointe, but they want a downtown crash-pad for weekends, events, and an easy walk to restaurants and sports games. For these folks, dropping $1 million on a Detroit condo is comparable to what they’d spend on a vacation home, and far from unheard of in other big cities. The Residences at The Edition, with its prestige and hotel-style services, could be very appealing as a “lock-and-leave” second home for Michigan’s affluent class or expats who want a slice of the old hometown.
- Out-of-state buyers and expats: Detroit’s narrative of resurgence has started to catch national attention. Similar to how people buy pied-à-terre condos in Chicago or New York, there may be investors or former Michiganders living elsewhere who want a foothold back in Detroit. “If you look at other markets, spending $1 million on a second home is very common,” Huez notes, pointing out that Detroit is now entering the realm of cities where that is becoming true. International buyers could even emerge, especially with the Edition Hotel’s global brand drawing eyes.
In short, while $3 million condos might have been unthinkable downtown a decade ago, today there’s a plausible buyer pool. It may not be huge, but it doesn’t need to be, there are only 96 units to sell. And success breeds success: a sold-out Hudson’s tower could encourage more high-end projects, further solidifying Detroit’s comeback story. As one local real estate observer put it, “We need a top of the market in Detroit that can elevate everything for us, bringing more investment and more people to the city.”
Of course, demand at this tier remains unproven until the sales actually happen. It’s worth noting that some previous attempts at luxury downtown housing saw mixed results (for example, the Book Cadillac condos and other high-end lofts have had varied success). But the Hudson’s project is on another level, with unmatched location, amenities, and hype – so Detroit’s real estate community is optimistic. There’s a sense that “if this works, it changes the game.”
Hudson's Detroit, Facebook
Tax Breaks and Sticker Shock: The NEZ Abatement
To sweeten the deal for buyers, and to ensure these pricey condos don’t languish on the market, Bedrock is leveraging a common Detroit incentive: the Neighborhood Enterprise Zone (NEZ) tax abatement. The developer has asked Detroit City Council to approve NEZ certificates for all 96 condos, which would significantly reduce property taxes for those who purchase them. How significant? Potentially on the order of a 70–80% reduction.
Under the NEZ program, owners of new homes in designated areas pay much lower city property tax rates for up to 15 years. It’s a perk many new condo and townhouse projects offer in Detroit to attract buyers, and here it could be especially crucial. Consider this: without an abatement, the yearly property taxes on a condo in the Hudson’s tower (with an assessed value around $1.6–$1.7 million) could easily exceed $50,000 per year. Few buyers, even wealthy ones, relish a tax bill that high. But with the NEZ in place, an owner-occupant’s taxes on that same unit might drop to roughly $13,000 per year, according to estimates from the developer’s team. That’s a huge incentive to buy, essentially saving tens of thousands annually.
However, there’s a catch that especially affects those second-home buyers we mentioned: NEZ tax breaks only apply to a homeowner’s primary residence. The city’s rules are clear that you must own and occupy the unit as your principal home to qualify for the abatement. If you’re using the condo as a pied-à-terre or investment and not living there most of the year, you’d be paying the full property tax rate (which for non-homestead properties in Detroit is even higher, roughly double the rate of a primary residence). In numbers, that means a non-resident owner could face a $70,000+ annual tax bill on an average Hudson’s condo, versus about $13,000 for an owner who makes it their main home. This requirement might thwart some sales to out-of-towners or suburbanites who can’t commit to full-time city living, as broker Jérôme Huez noted in discussing the project’s challenges.
Detroit City Council is expected to approve the NEZ certificates (virtually every new residential project gets them as a matter of course). But it will be interesting to see how Bedrock markets this aspect: they’ll want to encourage buyers to declare the condos their primary residence (to take advantage of the tax break), yet many target clients may prefer to keep their primary home elsewhere. Creative solutions could emerge, perhaps some will actually change their official residency to downtown Detroit, or the developer might lobby for tweaks to the policy. Either way, property taxes will be a talking point in every deal. For qualified buyers, the NEZ essentially offers a luxury condo in Detroit with the property tax load of a house one-quarter its price, a huge selling point in a city known for high tax rates.
For a clear primer on NEZ and Detroit property taxes, see our Michigan property tax guide.
Hudson’s Site: More Than Just Condos
While the condos are stealing headlines with their price points, they’re part of a much larger $1.4 billion development transforming an entire city block on Woodward Avenue. Bedrock’s Hudson’s project actually comprises two connected buildings: the 45-story tower (housing the Edition Hotel and condos) and an adjacent 12-story mid-rise that will host offices, event space, and retail. This summer, the first sections of the development began opening to the public, and momentum is building.
In fact, General Motors has announced a move of its headquarters from the riverfront Renaissance Center into the new Hudson’s office mid-rise, leasing several floors for a modern workspace. Come early next year, hundreds of GM employees will start working at the Hudson’s site, a significant win for downtown’s economy and symbolism. For longtime Detroiters, seeing the GM logo go up on the new building was a goosebumps moment: it represents both corporate commitment to the city’s core and a full-circle return to Woodward Avenue (GM’s HQ was in Detroit’s New Center decades ago before the RenCen era).
All this is to say, the Hudson’s site condos won’t exist in a vacuum. Buyers are not only purchasing a luxury home, but a piece of a landmark project that’s reshaping downtown’s skyline and energy. The development will feature new shops, restaurants, and public spaces, creating a mini neighborhood where an iconic department store once stood. There’s even talk of reviving beloved traditions, like displaying a massive Hudson’s-style holiday tree or light display, to tie the project into Detroit’s cultural fabric. For a city that hasn’t seen a new skyscraper in decades, the Hudson’s tower is more than just real estate; it’s a beacon of revival that blends history and future.
From a lifestyle perspective, residents of The Detroit Edition condos will step out their door into the heart of downtown. Campus Martius Park (with its winter skating rink and summer concerts) is just a block away. The sports venues for the Lions, Tigers, and Pistons are all within a short walk or QLINE streetcar ride. Top restaurants, from swanky steakhouses to hip brunch spots, are scattered around the Woodward corridor. And cultural institutions like the Detroit Opera House and Fox Theatre are in the neighborhood as well. For those who can afford it, this location offers an urban experience previously hard to find in Detroit, where you can live, work (maybe at GM), and play all within a few blocks. It’s the kind of city lifestyle that young professionals and even some families in Metro Detroit often had to move to Chicago or New York to enjoy, now it’s becoming reality at home.
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Hudson's Detroit, Facebook
What’s Next: Timing and Market Impact
As of late 2025, none of the Hudson’s site condos have hit the market yet, there are no public listings to peruse, and Bedrock has been tight-lipped about marketing so far. But that’s about to change. The company has enlisted Douglas Elliman, a New York-based luxury brokerage firm, to handle sales for The Residences at The Detroit Edition. (Elliman is famous for selling high-end properties from Manhattan to Miami, so they’ll bring some glitz and reach to this Detroit project.) A sales gallery is reportedly opening soon by appointment at a storefront on Woodward Avenue, where interested buyers can get details, see model finishes, and perhaps reserve units. Given the building isn’t expected to open until 2027, we’re effectively in a pre-sale phase, early buyers might snag reservations now, with closings a couple years out once construction is complete.
Detroit’s real estate community will be watching these pre-sales closely. Strong early sales (especially at the full asking prices) would signal robust demand and could encourage even more development. It might also start lifting property values for other high-end buildings nearby, as a new bar is set. Conversely, if sales prove slow, we might see price adjustments or more aggressive marketing, not unlike what happened at the Exchange building, where initial prices had to be trimmed. Given the unique nature of this project, however, comparisons are few. This is truly uncharted territory for Detroit.
One thing is for sure: the Hudson’s condos are already sparking conversation on local talk radio, at downtown coffee shops, and in neighborhood Facebook groups. Some Detroiters welcome the project as a sign of a city ascendant, “If people are paying $3 million to live here, we must be doing something right!” Others have raised eyebrows, noting Detroit still has deep challenges (from affordable housing shortages to city services), and wondering who exactly will live in this “Ivory Tower.” The truth is likely somewhere in between: these condos won’t solve Detroit’s issues, but they will add a new layer of housing and bring in residents (and property tax revenue) that the city wouldn’t have otherwise.
For Dan Gilbert and Bedrock, the stakes are high. They’ve invested enormous resources and hopes in this development. Gilbert envisions Hudson’s as a catalytic project, one that announces Detroit’s comeback to the world and anchors downtown’s next chapter. “Hudson’s Detroit is synonymous with excellence, style, and grit,” Gilbert said at a recent event, “so it’s fitting that it will host legendary and iconic global brands… [It] will serve as a magnet, drawing visitors, residents, and businesses, who can all indulge in the amenities... that Detroit has to offer.” In many ways, the success of these condos will be a litmus test for that vision.
See how Hudson’s fits into the broader wave of downtown projects in our 2025 Detroit developments roundup.
Detroit’s Skyline Enters a New Chapter
As a lifelong Michigander and a close observer of Metro Detroit real estate, this moment feels different. Downtown Detroit hasn’t seen a development of this scale and ambition in a generation. The Hudson’s site condos represent not just expensive real estate, but a bold statement: that Detroit can offer ultra-luxury living comparable to Chicago, New York, or Toronto, and that people will pay to be part of it. It’s a risky proposition, sure, but also an exciting one for those of us who love this city.
In the coming months, you’ll likely hear more about reservation launches, model unit unveilings, and maybe even a high-profile buyer or two being announced. (Don’t be surprised if a local sports star or prominent executive is among the first to claim a unit with a killer view.) Each of those sales will be more than a transaction; it’ll be a vote of confidence in Detroit’s future.
If you’re curious about this development, or downtown living in general, now is a great time to explore. Take a stroll by the Hudson’s site at 1208 Woodward and see the progress. Imagine what the skyline will look like when it’s finished, and the lights are on in those top-floor condos. Detroit is evolving, and opportunities are emerging for those who want to be part of it. Whether you’re an investor eyeing the luxury market, a city-lover dreaming of a high-rise home, or just a proud Detroiter cheering on the comeback, the Hudson’s project has something to teach us about possibility.
Thinking about making a move? Connect with a local real estate expert who knows the downtown market inside and out. They can provide insight on comparable properties, upcoming developments, and what a purchase like this entails. Even if the Edition condos are out of your price range, there are other exciting residential options popping up in and around the city’s core. The key is to stay informed and engaged.
Detroit’s real estate story is still being written, and the Hudson’s site is the newest chapter, one that’s capturing imaginations and headlines. Keep an eye on those cranes on Woodward Avenue; they’re building more than steel and glass. They’re building a new vision of Detroit living. And who knows, in a few years, maybe you’ll find yourself visiting a friend’s swanky condo there, or sipping a cocktail at the rooftop pool, marveling at how far the city has come. In Detroit, hope is in the skyline these days, and it’s a beautiful sight to behold.
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