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Old 06-17-2015, 05:31 PM
 
Location: Past: midwest, east coast
603 posts, read 873,424 times
Reputation: 625

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Who cares? Where was the whining and moaning when this hotel sat abandoned for decades? Be thankful that hundreds of millions of dollars are doing to be invested in your city.
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Old 06-17-2015, 05:51 PM
 
Location: Detroit
464 posts, read 448,032 times
Reputation: 700
Quote:
Originally Posted by animatedmartian View Post
Eddystone is going to be renovated. It's just Park Avenue coming down.
Even better. I guess there was some hope in saving the Eddystone?
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Old 06-17-2015, 05:53 PM
 
2,990 posts, read 5,244,475 times
Reputation: 2365
Quote:
Originally Posted by Seatown1 View Post
Who cares? Where was the whining and moaning when this hotel sat abandoned for decades? Be thankful that hundreds of millions of dollars are doing to be invested in your city.
That is somewhat true. People complaining about Illitch sitting in properties...you wonder what kind of counter offers he got over the years, if any.
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Old 06-17-2015, 07:57 PM
 
Location: Michigan
4,647 posts, read 8,551,660 times
Reputation: 3775
Quote:
Originally Posted by WayneCounty View Post
Even better. I guess there was some hope in saving the Eddystone?
The deal was that in return for demolishing Park Avenue, Olympia would agree to renovate Eddystone. Park Avenue is apart of the land Olympia had bought for the stadium while Eddystone is not.

Eddystone has been vacant for a couple a years longer than than Park Avenue, but otherwise both buildings are pretty much the same in every aspect. The City pretty had to force Ilitch to guarantee that it would actually renovate Eddystone rather than let it sit. His company has until a year after the stadium is built to get the hotel renovated, with the city taking some sort of legal action if he doesn't.
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Old 06-17-2015, 08:12 PM
 
Location: Michigan
4,647 posts, read 8,551,660 times
Reputation: 3775
Quote:
Originally Posted by jonnynonos View Post
That is somewhat true. People complaining about Illitch sitting in properties...you wonder what kind of counter offers he got over the years, if any.
He's not in the business of selling property. Unless the city forces him to do something with a property, he holds onto it for his personal development or demolishes it and leases the land to a third party. The only offers he would accept are ones where he retains ownership.
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Old 06-17-2015, 08:59 PM
 
Location: Michigan
4,647 posts, read 8,551,660 times
Reputation: 3775
Quote:
Originally Posted by Seatown1 View Post
Who cares? Where was the whining and moaning when this hotel sat abandoned for decades? Be thankful that hundreds of millions of dollars are doing to be invested in your city.
1) Obviously residents who live in the area care but not everyone has millions of dollars stashed in their bank and has connections to powerful people.

2) These buildings both have been decade for less than 10 years. Other buildings downtown downtown have been vacant since the 80s and yet somehow still managed to be renovated and reuses.

3) There's hundreds of other companies and people investing billions of dollars in the city. That doesn't mean one person can be allowed to be irresponsible with how they invest.

Ideally, every building could be saved, some will eventually be replaced by new development, but in Detroit a vast majority of buildings are demolished with no replacement and have arbitrary reasons for demolition.

Btw, Ilitch isn't even investing with his own money. This stadium is mostly being paid by the city.
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Old 06-17-2015, 09:14 PM
 
2,990 posts, read 5,244,475 times
Reputation: 2365
Quote:
Originally Posted by animatedmartian View Post
1) Obviously residents who live in the area care but not everyone has millions of dollars stashed in their bank and has connections to powerful people.

2) These buildings both have been decade for less than 10 years. Other buildings downtown downtown have been vacant since the 80s and yet somehow still managed to be renovated and reuses.

3) There's hundreds of other companies and people investing billions of dollars in the city. That doesn't mean one person can be allowed to be irresponsible with how they invest.

Ideally, every building could be saved, some will eventually be replaced by new development, but in Detroit a vast majority of buildings are demolished with no replacement and have arbitrary reasons for demolition.

Btw, Ilitch isn't even investing with his own money. This stadium is mostly being paid by the city.
Sure he is; Olypia is paying $200M out of the $450M plus will pay taxes on all the new ventures to add to the taxes they already pay.

http://www.crainsdetroit.com/article...re-are-answers
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