Judge signs off on new ownership for downtown office towers

https://s3-rd-prod.crainsdetroit.com...ixthStreet.jpg

According to a source familiar with the matter, the working vision for the buildings includes converting at least part of one of them into a hotel with a national flag, and making the rest into residential and retail space. The precise scope of the plan — including things like the number of envisioned hotel rooms or apartments, for example — is not known. PMN Partners Holdings does not appear to be registered yet in Michigan, but court documents say it is connected to Paul Stann, a Denver developer who declined comment on Monday. The proposed purchase price is $16.5 million, the documents say, and the buyer has deposited $50,000 toward the purchase price.

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According to the filings, Farbman Group, the Southfield-based receiver for the property, marketed it for sale and received 11 potential buyers, with five offers to purchase.

Alfredo Casab, member for Bloomfield Hills-based Dawda, Mann, Mulcahy & Sadler PLC who is representing the Danous, said in an email: "On behalf of my client, I can say that while we are not privy to the buyer's plans, we believe the future development of this property will bring positive things to the city of Detroit."

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https://www.crainsdetroit.com/real-e...-approved-sale

It would obviously be great to activate these buildings but talk about an island location. Can you imagine the out-of-towners thinking they are staying right downtown? At least parking shouldn't be an issue, lol.

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Originally Posted by 401don

At least parking shouldn't be an issue, lol.

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Yeah but an urban infill of those parking lots in front would be nice.

Thankfully these buildings are being saved. They may not be the prettiest buildings in the downtown area, but they are high density.

Like the 12 story Hammer & Nail Building on Woodward that was supposed to come down for a 5 story building, the original plan for this site was to have been a 5 block [superblock] FBI bunker complex of 2 stories. That plan mercifully never came to fruition.

Hopefully the other blocks are used for new building developments.

Anything that keeps the density creeping outward is good news.

These would be a great starting point for another Elton Park style development with several buildings under the same management with public streets running between them. It'll be very intersecting to see what takes shape.

This would also be a good time for MDOT to unload that property next door on which the taxpayers currently subsidize Greyhouds operation.