Crains now reporting the entire project is cancelled.
Crains now reporting the entire project is cancelled.
http://www.crainsdetroit.com/article...g-firm-cancelsQuote:
Originally Posted by bassab
LOL - well, that was a giant clusterf***. In the end, however, happy to hear they are planning on adding a host of new jobs and that'll eat up plenty of open office space. The less open office space downtown going forward will lead to more interest in building new.
Well this is pretty disappointing. Though it wasn't at all unexpected. Either way a parking lot lives to see another day. :eek:
Disappointing to hear they are canceling the project, but still exciting that they intend to add about 1,500 jobs to downtown. Quite a turn from the original article though!
Isn't One Detroit Center [[former Comerica Tower) still about half empty? If so there really isn't a need to build a new building for Meridian...
As far as I know the building is not cancelled. The article posted does not say that. It addresses that the need to build a million square foot super structure was a bit premature. Meridian is still filling offices downtown folks and generating a lot of economic activity right on Campus Martius.
This is their latest. Weird though you can't access the quotes from an hour ago with Meridian people saying no new building.Quote:
Originally Posted by DetroitPlanner
Correction: Meridian to expand, but not in new building; firm cancels plans to build Detroit tower
09/12/14 - 10:41 a.m.Meridian Health Plan has canceled plans for a new 16-story headquarters in Detroit and instead plans to lease space downtown in one of several unspecified buildings for its growing workforce, a company executive told Crain's today.
I don't know how much more clear John can be here...Quote:
Originally Posted by DetroitPlanner
Quote:
Crain’s reported Thursday that Meridian planned to increase the space in a planned new building by 60 percent. In reality, the company no longer plans the new construction project.
.....
"We are committed to Detroit, but it doesn't make sense for us or Detroit to build new when there is a plethora of good buildings out there," [John] Cotton said.
not to be all "I told you so..." but...
Bet ya the CEO realized he wouldn't be able to afford his new Bentley and promptly decided to not invest in his company's future :[[ Oh well. At least they are staying downtown!
This is nonsense. They are hiring a ton of new employees and leasing a ton of new office space downtown. They are plenty invested in their future as well as the city. Don't knock them.Quote:
Originally Posted by motz
This is the link I was referring to: http://www.crainsdetroit.com/article...g-firm-cancelsQuote:
Originally Posted by bailey
I thought it was fishy that suddenly the building would grow too. Made no sense in light of the fact that they have lots of floors in existing buildings and there is still other space available.
I just realized that what I am reading is not the full thing. I do not have a subscription. Work gets paper copies delivered weekly so I have no real need for it.
Is it true that they are dedicating their resources to building barns on the GP and City border instead?
If you're planning on continuing to grow and increase your market share, invest and plan in the future. They won't be able to build that same building in 10 years if downtown keeps its current pace. This needs to be viewed for them as investing in the future to be able to grow and keep all of their teams in one, central building. I worked for a company that employs about 1200 people that were split between 4 different offices, and the only time you saw some coworkers was holiday parties. Now that they're under one roof, things run infinitely more smooth and they are able to be much more productive due to the investment the company was willing to make to ensure the company can grow.Quote:
Originally Posted by stinkytofu
Yeah, I'm glad they are moving downtown, but I suspect they are recognizing that either they are not growing as fast as they expected or someone realized that money wasn't going to go to profits or shareholders or whatever and decided to nix it.
Meridian can't physically be any more Downtown than it already is. They're in the E&Y and 1001 Woodward building. There is plenty of lease space around to get everyone under one roof....especially once the hedge funds get done parting out Compuware---er um.. I mean "not making any changes whatsoever".Quote:
Originally Posted by motz
Methinks Bedrock made them an offer they couldn't refuse.
As for Crain's, it's not like them to get duped by a bad source. Let's hope this is one time misstep and not a shift towards tabloid journalism for them. I mean, how hard would it have been to check the validity of their source?
If in fact they continue to grow, add jobs and fill up existing vacant space, I'll take that as a win. Maybe not a much as a new building though....
That's is very stupid of them! Detroit is where the prime capital is. Now the piece of area where Kirkwood Hotel and Family Theater once stood and the rest of the Monroe Block will remain the one surface parking lot. Go invest some place else, Meridian. If you can't be part of Gilberttown's progress, you're part of the problem!
what about some of the empty buildings along Washington Boulevard?
Quite a few new tenants have been coming in lately but still about 10 floors empty though. I guess that is less than half, but still some vacancies. Will also be several more floor open when GSA leaves the building in 2016-17.Quote:
Originally Posted by Gistok
They're still contributing to the health of downtown, and I think the site deserves a better building than what they were proposing. My relief outweighs my disappointment.
You realize the alternative is going to end up being not nearly as tall and will probably have the same, if not an absolutely worse, look, right? I am not holding out hopes that that site will even see development, let along anything that would make me feel "relieved" about a skyline-defining structure not going up.Quote:
Originally Posted by Jason
Detroit doesn't really need a skyline defining structure. It's shouldn't be among the cities top priorities. I guess when demand warrants, there will be a new tower. Making the city livable, and continuing to fill in vacant spaces should be our top priorities.
Maybe they will be lead tenant in the new Hudsons Building...
I'll take a building half as tall if it means that hideous parking structure isn't going to be built either.Quote:
Originally Posted by motz