Photo: George Gojkovich / Getty
DEARBORN, MICHIGAN, September 16, 2021 ~ The former Dearborn Hyatt Regency hotel is approaching sale, and will be turned into an apartment complex by an unidentified company, according to Dearborn Attorney Amir Makled, who is representing the buyer.
“We have a buyer who’s well capitalized and has the credentials to redevelop the property to its prior glory,” said Makled. “They are committed to having a very swift transformation and getting a project approved through the municipality and moving through all the construction phases as quickly as possible.”
The building, which is the second largest hotel in Michigan after the Marriott at the Renaissance Center, will be turned into a 350-400 unit apartment building, said Southfield-based real estate firm Jonna Group.
The hotel is currently owned by the US and Canadian governments. Edward Gong, the hotel’s former owner, relinquished control of the hotel due to criminal charges in Canada for fraud and money-laundering. The sale is currently pending through the US Marshals Service.
Dearborn Attorney Odey Meroueh, who represented Gong, stated that an investor group made an offer for the property last year. The group intended to convert the top four floors into condos, while operating the lower floors as a hotel.
According to Meroueh, the investor group backed out of the deal for reasons unspecified.
The current deal is expected to close by the end of October.