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Old 01-11-2017, 11:59 AM
 
Location: Grosse Ile Michigan
27,752 posts, read 65,567,547 times
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[quote=MS313;46791190]
Quote:
Originally Posted by Coldjensens View Post
The Millender already has units available though. It's not vacant. The Leland I don't think is vacant from looking at recent Google reviews about the place. In fact I think all the ones you mentioned already has plans in the works if it is completely vacant. So Gilbert assuming these plans come to fruition... there probably will be 10-15 new high rises in various stages in the next 5 years. 5 out of that 15 will probably end up getting cancelled for whatever reason.

Detroit might not be the only city doing it... but it IS the only city with great bones and alot of space in the core that is the center of a fairly wealthy large region of 5+ million people with a big economy and still pretty cheap. Downtown Detroit almost has it's own "sim city" right now just waiting to be taken to the next level. At the end of the day I think those facts are going to separate Detroit from the smaller cities with a booming downtown.
Millender is reportedly going to be converted to better apartments. They are pretty dates and not highly desirable right now. Lelland is a pit. There are apartments available, but it is a bit of a no mans land. No AC, everything else is spotty. People pretty much do whatever they want (including bowling in the hallways of some of the uninhabitable floors). Many floors are uninhabitable. Some basement areas are sometimes full of water. It is the home of the extreme fringe right now. They plan to rehab the entire building and make it luxury apartments.

However with the plethora of smaller building space available and the number of large projects in the works, I am not sure there is demand to justify a new high rise right now. There are a lot of issues that have to be addressed to build a new high rise downtown. I am aware of two being considered. 15 seems highly unlikely.
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Old 01-11-2017, 12:21 PM
 
Location: Grosse Ile Michigan
27,752 posts, read 65,567,547 times
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Will other cities follow Detroit? Pontiac? Flint? Ypsi? Who else has great bones but empty?
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Old 01-11-2017, 08:26 PM
 
1,582 posts, read 1,608,028 times
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Originally Posted by Coldjensens View Post
Will other cities follow Detroit? Pontiac? Flint? Ypsi? Who else has great bones but empty?
Pontiac is seeing some developments downtown. Auch, whose current headquarters have been located on South Paddock Street since it relocated from Detroit in 1985, plans to construct a two-story, approximately 20,000-square-foot corporate headquarters. Slows BBQ is opening up and the theater is being redeveloped.

Construction management firm buys former GM property for downtown Pontiac HQ
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Old 01-11-2017, 10:46 PM
 
Location: Detroit
3,671 posts, read 4,800,902 times
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[quote=Coldjensens;46792181]
Quote:
Originally Posted by MS313 View Post

Millender is reportedly going to be converted to better apartments. They are pretty dates and not highly desirable right now. Lelland is a pit. There are apartments available, but it is a bit of a no mans land. No AC, everything else is spotty. People pretty much do whatever they want (including bowling in the hallways of some of the uninhabitable floors). Many floors are uninhabitable. Some basement areas are sometimes full of water. It is the home of the extreme fringe right now. They plan to rehab the entire building and make it luxury apartments.

However with the plethora of smaller building space available and the number of large projects in the works, I am not sure there is demand to justify a new high rise right now. There are a lot of issues that have to be addressed to build a new high rise downtown. I am aware of two being considered. 15 seems highly unlikely.
I have no idea what kind of foolery just happened. I must have been in a rush to reply to myself in my last post lol. But yea I didn't see too many good reviews about the Leland either. 15 high rises let alone sky scrapers does seem like alot right now but we shall see. At the same time... I guess he didn't become a billionaire by thinking small and (inside the box).
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Old 01-12-2017, 06:13 AM
 
Location: Grosse Ile Michigan
27,752 posts, read 65,567,547 times
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Quote:
Originally Posted by Republic of Michigan View Post
Pontiac is seeing some developments downtown. Auch, whose current headquarters have been located on South Paddock Street since it relocated from Detroit in 1985, plans to construct a two-story, approximately 20,000-square-foot corporate headquarters. Slows BBQ is opening up and the theater is being redeveloped.

Construction management firm buys former GM property for downtown Pontiac HQ
An Australian company is buying Ottowa towers and the Phoenix center/parking deck. Not sure what their plans are, but if they bring Phoenix center back to life, it will be a big boost.
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Old 01-12-2017, 06:23 AM
 
Location: Chicago
937 posts, read 842,656 times
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In addition to the number of buildings years away from availability, there are still a number of buildings primarily occupied by Dan Gilbert's own companies. Moving 1000 underwriters to take up 10 floors of a building and then finding a smattering of small potato tenants is not going to be sustainable long term if the boom downtown is to continue... especially with mortgage rates going up for the foreseeable future
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Old 01-12-2017, 07:50 AM
 
1,582 posts, read 1,608,028 times
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Originally Posted by Coldjensens View Post
An Australian company is buying Ottowa towers and the Phoenix center/parking deck. Not sure what their plans are, but if they bring Phoenix center back to life, it will be a big boost.
Plus, the largest tower in Downtown Pontiac is being converted into a hotel.
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Old 01-12-2017, 09:34 AM
 
Location: Grosse Ile Michigan
27,752 posts, read 65,567,547 times
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Originally Posted by brodie734 View Post
In addition to the number of buildings years away from availability, there are still a number of buildings primarily occupied by Dan Gilbert's own companies. Moving 1000 underwriters to take up 10 floors of a building and then finding a smattering of small potato tenants is not going to be sustainable long term if the boom downtown is to continue... especially with mortgage rates going up for the foreseeable future
Except the people I know living downtown - none of them are Quicken/Gilbert employees. They are DMC, WSU, law firm, GM, small developers, Walbridge, and some service people (bartenders).

Oddly, although I know quite a few quicken employees, I do nto know any who live downtown.
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Old 01-12-2017, 08:47 PM
 
977 posts, read 1,115,239 times
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There are still a handful of floors available for lease in the Ren Cen, at least in Tower 100 & 400.

The downtown apartment rental scene is pretty scare from what all of the younger people in the office tell me.

Millender Center is still very viable, but needs a refresh. I haven't been in apartments in there in about 10 years.

I guess there has been an influx of empty-nester executive types renting place in Millender and Riverfront that sold their family house, got an apartment in the city for work but have their primary residence/eventual retirement home in the Carolinas/Florida/etc.

DCA sounds like a fun place although basically like a young professional millennial dorm-like place.
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Old 01-13-2017, 06:21 AM
 
12,486 posts, read 7,585,778 times
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Quote:
Originally Posted by brodie734 View Post
In addition to the number of buildings years away from availability, there are still a number of buildings primarily occupied by Dan Gilbert's own companies. Moving 1000 underwriters to take up 10 floors of a building and then finding a smattering of small potato tenants is not going to be sustainable long term if the boom downtown is to continue... especially with mortgage rates going up for the foreseeable future
I think the "snowball" effect....is in effect. I think Illich and Gilbert broke the inertia and started rolling the snowball to the point that there is so much energy and momentum going now that the growth will continue on its own. Growth begets growth....decline begets decline. Hence, Detroit is going to grow the same way that it declined and the most important thing is that there has been a REAL turnaround. It took Detroit decades to fall like it did and its not going to come back in a single decade, but its now going in the right direction.
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