Broderick Tower Official Thread

[Huggybear]

Not if he misrepresented what he was doing with the money.

Wouldn’t that be vindictive?

[Gistok]

That Crains article is incredibly idiotic. The author should be fired.

Alleged "numbers guy" Bob Hosey makes his living off of historic tax credits. Of course he thinks the Broderick and Lafayette are good candidates for historic tax credits.

Next up, let's ask grocers if the city should subsidize groceries.

.... or for that matter if new buildings should be allowed to write off depreciation...

[Lorax]

The Crain's article sounds like maybe Higgins is no longer the Broderick owner.

You think Higgins and Maroun are the same person? At least Maroun operates the bridge, what in the world does Higgins actually DO? I know of no project that Higgins has ever completed, do they even exist?

Moroun operates the bridge alright, using a handcrank while standing under it.

Higgins is just an urban legend.

[SaintMe]

Sometime in the last 2-3 years I remember seeing a trailer for an indie horror film that was shot at, or at least set at, the Broderick. I didn't actually see the movie, but I think the plot was basically that some guy goes into the building and is never seen again. His sister and friends go to the building to search for him, get trapped, and macabre hijinx ensue. Has anyone heard about this?

I found it! Here's is the trailer from YouTube.

http://www.youtube.com/watch?v=gb7s4W8aPyA

Has anyone heard of it?

[tetsua]

http://www.imdb.com/title/tt1337715/

[tetsua]

Was this movie released or what, I can't find any info to say. I always thought the Broderick tower would make a good backdrop for a horror movie, sadly you use much of the city at night for the setting of a horror movie.

[SaintMe]

http://www.myspace.com/thetowermovie

According to their MySpace page it was shown at the Royal Oak Main Art Theatre last summer and a Grand Rapids film festival last fall. I sent them a message on YouTube to get more info.

[MotownSpartan]

Any recent developments with this building at all or is the owner just not even pretending to do something with it anymore? What can we do to these slumlords who do nothing with these abandoned albatrosses in our downtown?

[jt1]

Any recent developments with this building at all or is the owner just not even pretending to do something with it anymore? What can we do to these slumlords who do nothing with these abandoned albatrosses in our downtown?

The shitty economy and lack of available credit gives him a free pass. He no longer has to lie about plans, now he can just blame the economy becuause he really, really wants to do something there but can't get financed.

They should sentence him to having to live in his building.

[esp1986]

I was driving around town last night, went by the Broderick, and I noticed that at least something has been done recently. In addition to what must be the 10 different "sports bar" on the grond floor in the last 10 years, the doors to the lobby off of Witherell have been covered over with a sign advertising the buildings redevelopment. Previously, this sign was inside those doors. I don't know whether this means they are working in there, or if they are just trying to keep people out.

[esp1986]

"This just in" from Crains...

Tax credit in works for Broderick, other projects

A tax credit for historic rehabilitation pending in the Legislature means the $55 million redevelopment of the David Broderick Tower in Detroit could get started in three months, said Fred Beal, president of Motown Construction Partners L.P., the legal entity developing the project. Beal is also president of Detroit-based J.C. Beal Construction Inc.

The tax credit, versions of which have been approved by the state House and Senate, aids the 127-unit apartment development and 20,000 square feet of office and retail space planned on Woodward Avenue near Grand Circus Park.

The Senate last week passed Bill 944, sponsored by Jason Allen, R-Traverse City, which would allow the Broderick Tower and two other projects to use Michigan Business Tax historic rehabilitation tax credits.

The other projects are:

• The $145 million A. Alfred Taubman Center for Design Education, formerly called the Argonaut Building. The 11-story building, once the home of now-General Motor Co.'s design center, was redeveloped as an expansion of the College for Creative Studies. The building was completed in September.

• Rehabilitation of the Federal Building in downtown Grand Rapids, to house Ferris State University's Kendall College of Art and Design.

The bill would retain a $3 million annual cap on the amount of tax credits a project can claim in one year. A similar House-passed bill, 5479, sponsored by Rep. Bert Johnson, D-Detroit, would also aid the three projects but allow for a $4.6 million tax credit for the Argonaut redevelopment.

[Pcm]

Three months! Ha!

[Fnemecek]

I missed this one when it was first posted. Now that this thread is alive again, I figured I should respond.

Higgins sold the Historic Commission on the concept that if he were allowed to hang the big ad, he would use the moeny to do predevelopment and then redevelope the building. FOBC and others suppoorted this. The DDA and HDC staff advised that he was likely to pay off liens, keep the buildings as is and do nothing.

PQZ:
Please make up your mind as to what you want to attack the FOBC for. First, you say we never attended public meetings; then you say we say that we were at the HDC meeting lobbying on behalf of this billboard.

For the record, the FOBC never took a position on the Broderick billboard - either pro or con.

[MichMatters]

Aren't historic tax credits usually about the last set of credits a project like this one receives? It is very possible as far along in the pre-redevelopment process as the Broderick is that this could start in the time stated. Needless to say, what is possible isn't always probable, and I'd be surprised to see this move forward within three months time.

[Gistok]

Thanks for the link esp1986.... the other bit of interesting news in that article is something that I hadn't heard before... the Argonaut Building is now the Taubman Center [[shortened name). Anybody know what he had to pony up to get the naming rights to that building?

[MichMatters]

Gistok,

It was reported back in July during their fundraising campaign that Taubman gave them $15 million, the single largest fundraising gift, which essentially means in these type of things that you get it named after you. Apparently, he's one of the trustees of CCS. Go figure.

[esp1986]

The positive thing to look at here, as far as the Broderick is concerned, is the fact that the person giving the time frame to start work, should the credit go through, is the contractor, JC Beal Construction. They are obviously seriously involved at this point, and considering there is a timeframe set for work to begin, I am optimistic that this can actually happen, especially considering there are actual plans already in place, this isn't just another pie in the sky idea...

[gumby]

We have been given many timelines by Higgens it is just that this is the first time the timeline isn't "By next year". Skipper's Rule here but with the tax credit and the recent sale of the Farwell Building, this could actually happen.

[DetroitScooter]

They could start with closing the windows. I notice all those open windows every time I scoot by. A sad, forlorn sight.

[esp1986]

We have been given many timelines by Higgens it is just that this is the first time the timeline isn't "By next year". Skipper's Rule here but with the tax credit and the recent sale of the Farwell Building, this could actually happen.

Well at least this isn't Higgins talking... this is the construction company, so they must be under the impression that this is the final preconstruction piece to the puzzle... I also looked at the Broderick Tower website recently, and there have been a few changes made to it of late, so this may actually be happening... maybe Higging was $3 million short so the sale of the Farwell puts him over the top... who knows.

[artds]

Higgins is going to have to take his name off the project if the other investors ever expect the units to fetch market rental rates.

Higgins' reputation as a building owner/manager isn't the greatest around these parts.

I won't go so far as to use the "S-word", but given the things that have been written about him in the paper, I sure wouldn't want to live in a building that was operated by him.

[esp1986]

These are supposed to be "luxury" units from what I have heard... which will make it even more interesting... seeing now that the Book Cadillac units are now selling, it shows people are at least interested in these such units, time will tell how it does.

[esp1986]

http://www.house.mi.gov/SessionDocs/...10-21-2009.pdf

Check out this link... this document was submitted to the Michigan House of Representatives by Motown Construction Partners LP... Judging from the letter, Fred Beal is in fact the leader of the project [[and president of Motown Construction Partners LP), meaning Higgins is likely just the owner of the building as far as the renovation is concerned.

[401don]

Anybody know how the apts in the Fort Shelby are doing? I would think they would be the main competition for upscale apts in the CBD along with Merchants Row. The Shelby must have lowered their rates by now. They couldn't have launched at a worse time.

[Gistok]

esp1986... did you notice the collapsed building was next to the Broderick Tower diagram along the right margin of that document?