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Riverwalk Commons is a development proposed for Ypsilanti's Water Street Redevelopment Project in 2014, and approved by Ypsilanti City Council in June 2015.

Originally proposed under the name Water Street Flats, the project by Indiana-based firm Herman & Kittle would include 80 rental apartments in a 4-story, 75,000 square foot building on 1.7 acres towards the rear of the Water Street property.  The project has an estimated cost of $12.5 million, which includes approximately $1m in public road, water, and sewer investments by the developer.

Supporters of the project pointed to the need to demonstrate the city's ability to approve proposals on the Water Street property, the price point of the housing being targeted at typical Ypsilanti residents, the contributions towards infrastructure and taxable value, the development's making use of a difficult-to-build-on segment of the overall parcel, and its compatibility with the vision of the property as extending the architectural pattern of downtown as reasons for its approval.

Critics of the property expressed concern about adding new income-restricted affordable housing units to downtown, the developer's use of public financing via MSHDA tax credits, and the possibility of Section 8 voucher holders living in the development.

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