Detroit developer plans 250-unit project north of DIA Developer attempting to buy Detroit Land Bank Authority-owned land for $1.71 million Project would cost $40 million to $45 million, with construction starting next year Kirk Pinho/Crain's Detroit Business This site at John R and Palmer Street north of the Detroit Institute of Arts is targeted for a 250-unit mixed-income residential development by Detroit-based American Community Developers. It would cost between $40 million and $50 million. A $40 million to $45 million residential development is envisioned for a chunk of land a few blocks north of the Detroit Institute of Arts. The 250-unit development by Detroit-based American Community Developers sits, in part, on pieces of property currently owned by the Detroit Land Bank Authority totaling about 2 acres, according to a Detroit City Council briefing memo.