The new seven-story hotel in Detroit’s Corktown neighborhood is expected to start admitting its first guests in early August.

The 227-room Godfrey Hotel on Michigan Avenue between Trumbull and Eighth Street is being developed by a joint venture between Farmington Hills-based homebuilder Hunter Pasteur Homes and Chicago-based Oxford Capital Group LLC.

During a media tour of the still-under-construction building on Monday afternoon, Aaron Black, the hotel’s general manager, said the average daily rate is expected to be about $275.

A first-floor ballroom can accommodate about 300. There is a seventh-floor bar called I/O, short for “inside/outside,” which will be open to the public, not just hotel guests; and a first-floor restaurant called Hamilton’s, which is to have 93 seats slated to open in late fall, Black said.

 

Black said the development cost between $75 million and $100 million. Construction started in September 2021.

The general contractor is a joint venture between Lansing-based The Christman Co. and Chicago-based Norcon Inc.

The architecture team is Detroit-based Neumann/Smith Architecture and Boston-based Elkus Manfredi Architects.

In addition to Hunter Pasteur and Oxford, lead investors include Nathan Forbes, managing partner of Southfield-based Forbes Co., which co-owns Somerset Collection in Troy, and James Grosfeld, the former CEO of Pulte Group.

The development is blocks away from where Ford Motor Co. has been building an estimated $950 million autonomous and electric vehicle campus anchored by the redevelopment of Michigan Central Station.