Stone Soap development near Detroit riverfront "on hold"

A crumbling industrial building by the east riverfront is among a long list of developments that were announced with fanfare but haven't materialized so far.

State of play: Developer Banyan Investments was chosen almost six years ago to renovate the more than century-old Stone Soap building for $27 million. Plans called for apartments, condos, retail and rooftop gardens.

• After a splashy 2017 announcement, there were also efforts by the city a couple of years later to kickstart the delayed effort, per Crain's.

The latest: Don't hold your breath for construction to start on this one. The Stone Soap project is "on hold and there are no new updates to report now," per a statement from the Detroit Economic Growth Corporation to Axios. "Market conditions have been the cause for delay."

• Banyan did not return our request for comment.

📬 Are there other Detroit developments you're curious about and want us to dig into? Email [email protected] and let us know.