$150 million downtown development announced (Detroit, Dexter: apartments, for rent, mortgage) - Michigan (MI) - City-Data Forum

Brent85 · 01-06-2008, 04:05 PM

FREE PRESS EXCLUSIVE: $150-million complex planned for downtown (http://www.freep.com/apps/pbcs.dll/article?AID=/20080106/BUSINESS04/801060626&imw=Y - broken link)

Dexterguy · 01-06-2008, 05:06 PM

This looks really great for Downtown, it would be the next biggest development in Detroit since the RenCen. I just hope that it does not get build to have "For rent" signs through the entire building. If it were build it would have to be filled. Hopefully in the next couple of years the Detroit and Michigan economy wil start a turn around.

downthathighway · 01-06-2008, 05:58 PM

Quote:

Originally Posted by Dexterguy

This looks really great for Downtown, it would be the next biggest development in Detroit since the RenCen. I just hope that it does not get build to have "For rent" signs through the entire building. If it were build it would have to be filled. Hopefully in the next couple of years the Detroit and Michigan economy wil start a turn around.

OK, more $ put into downtown. Downtown does need to be more destination-oriented rather than just offices,of course. Urban downtown shopping fizzled in most cities after suburban malls were built, so residential and entertainment are needed to replace that.
There was a contest when RenCen was built, the name Renaissance Center was chosen. The word 'renaissance' generally indicates a positive growing trend. This was in mid-70's, over 30 years ago ! Over time, that center was unable to meet mortgage payments and was sold for far less than original cost to G.M. Numerous new developments, casinos, ballparks, etc have yet to 'bring the city back', they just improved one area of town instead of 'spreading it around'.
In order to get to downtown Detroit, one must drive through the REAL city, and see where the development and improvements are still badly needed.
Those who live and/or work in Detroit will pay a premium for that, an income tax which has been spent in recent years for debt reduction(futile) rather than for improvements. It would be easier to look at that deduction as a premium for being in a thriving and growing area rather than paying for 'sins of the past'.

Dexterguy · 01-06-2008, 06:57 PM

Quote:

Originally Posted by downthathighway

OK, more $ put into downtown. Downtown does need to be more destination-oriented rather than just offices,of course. Urban downtown shopping fizzled in most cities after suburban malls were built, so residential and entertainment are needed to replace that.
There was a contest when RenCen was built, the name Renaissance Center was chosen. The word 'renaissance' generally indicates a positive growing trend. This was in mid-70's, over 30 years ago ! Over time, that center was unable to meet mortgage payments and was sold for far less than original cost to G.M. Numerous new developments, casinos, ballparks, etc have yet to 'bring the city back', they just improved one area of town instead of 'spreading it around'.
In order to get to downtown Detroit, one must drive through the REAL city, and see where the development and improvements are still badly needed.
Those who live and/or work in Detroit will pay a premium for that, an income tax which has been spent in recent years for debt reduction(futile) rather than for improvements. It would be easier to look at that deduction as a premium for being in a thriving and growing area rather than paying for 'sins of the past'.

I agree with this, but downtown has not had a real development in years, this may get some businesses from out of state or somewhere interested in forming new business in downtown Detoit. Businesses are looking to do business in nice areas, downtown has done alot! over the past few years but it still has a long way to go. And re-development and beautifying the area is a good start to do all of this.

STLCardsBlues1989 · 01-06-2008, 07:05 PM

Good for Detroit. It's a nice start.

Scudder · 01-08-2008, 07:26 PM

Having strong ties to Detroit, I'm thrilled to see new development. But what the hell is that Dr. Seuss monstrosity they came up with?!! It also looks like it'll perpetuate the "drive from A to B mentality" of the city instead of encouraging people to get out and about on foot.

J.Garcia · 01-09-2008, 02:19 PM

Sounds nice and could be another hot spot connecting Greek/bricktowns and Campus Martius areas.

All of the high traffic areas are too spaced out and have dark (literally,
barely lit at night) empty (no restaurants and or retail) streets connecting them. \

A step in the right direction at least.

They mentioned Quicken moving downtown, what about the Rock deal? Have they made definite plans to move downtown yet?

Coldjensens · 01-09-2008, 03:31 PM

I would have preferred to have the civil war era buildings, but this will attract attention to the City. Maybe they can film the Tv show "Surreal Life" in this building.

Certainly it is better than parking lots. I am glad to see some innovation in architecture even if it is bizarre and cartoonist. At least it is not a tall glass rectangle. Maybe it will add just a little bit of more life to Downtown. Revitaliation is incremental. It does nto happen all at once. This may be an added step. If it fails, at least it will be fun to laugh at.

$150 million seems a bit light for this building. I hope that they are not being unrealistic. Maybe they are planning to build it part way and then ask the City to bail them out. That is a somewhat common developer's tactic.

Equally interesting was the link on the same page to an article about two Detroit geniuses who put a dead guy on an office chair and wheeled him down to a check cashing store to try to cash his social security check.

STLCardsBlues1989 · 01-09-2008, 04:53 PM

Might be cheaper to restore an old building (or even the old train station), but I guess they're not as pretty.

Either way, it's a start.

Dexterguy · 01-09-2008, 06:54 PM

I say right now that the building style is not my favorite, it really does not "fit-in" with all of the other buildings in the city. But then on the other hand change may be what Detroit needs, the only problem that I saw with the project is that it said that there was going to be more apartments along with the offices and other attractions, but how many more apartmants does Downtown actually need! Honestly, every single building that is under renovation in Downtown is going to become apartments, it just seems like with the poor economy and Detroit's population decline that all of these new apartments are not going to be rented, and may just sit empty.