Broderick Tower Official Thread

MichMatters · December-07-09, 09:56 PM

Higgins isn't the majority owner in this project, anymore, is he? I was under the impression that he was largely sidelined [[or should I say sidelined, himself) when the Beals came in to save the day some years back. Higgins isn't the shot caller on this project, anymore.

**esp1986** · December-07-09, 11:27 PM

Originally Posted by Gistok

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

I actually noticed that one day driving by... I believe that building was to be part of the renovation... There is, however, some question as to whether that building actually collapsed or whether it may have actually been demolished.

**dtowncitylover** · December-07-09, 11:39 PM

Originally Posted by esp1986

I actually noticed that one day driving by... I believe that building was to be part of the renovation... There is, however, some question as to whether that building actually collapsed or whether it may have actually been demolished.

You sound like a 9/11 conspiracy theorist.

**artds** · December-08-09, 12:48 AM

Originally Posted by 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.

Don't know about the Fort Shelby units as a whole, but rumor has it that one of the top floor suites is [[or at least was as recently as a few months ago) home to a certain young multi-millionaire named Mathew Stafford. [[I guess the organization rents out a few of the units there to be used as corporate housing).

**DetroitZack** · December-08-09, 12:09 PM

3 months huh? Around here that usually ends up being 3 years :-p Just kiding, of course. I hope this starts soon! The Broderick is one of my favorite towers in Detroit.

**French777** · December-08-09, 03:06 PM

It would have amazing views! From the website the views it shows of the city are just breathtaking. All directions have something interesting to look at!

lefty · December-17-09, 03:22 PM

I hope they block the windows it is going to be a cold freezing winter, maybe the billboard ad revenue isn't enough to cover it.
The Beals never came in to save anything. Just make money off another project.
If they can do enough work on a building, then the owner is in debt to them and then they can take a equity stake in the building and squeeze the owner real hard.
Beal jr. is also a person one wouldn't want to work for from what I've heard from more than one person.
Whoever it is that completes it, I hope to hell they do something something nice with it soon.

**esp1986** · December-17-09, 03:39 PM

Originally Posted by lefty

I hope they block the windows it is going to be a cold freezing winter, maybe the billboard ad revenue isn't enough to cover it.
The Beals never came in to save anything. Just make money off another project.
If they can do enough work on a building, then the owner is in debt to them and then they can take a equity stake in the building and squeeze the owner real hard.
Beal jr. is also a person one wouldn't want to work for from what I've heard from more than one person.
Whoever it is that completes it, I hope to hell they do something something nice with it soon.

This is a project that has been in the works for about 5 years... when the plans finally materialized, the economy soured... they are just now following through on the plans... provided they start in March, pending a state tax credit, they could conceivably cover up the windows for the winter, but what is one more winter on top of the last 25??

**detroitbred** · December-17-09, 04:30 PM

I work for a construction related company, and we have done numerous jobs for JC Beal. Not among our favorite people....very difficult to collect our money from them. We'd like to tell them to get lost, but these days, you have to take whatever work you can.

**Bodybagging** · December-17-09, 05:44 PM

Heres the Movie poster for the film,

I checked out the trailer, the FX looked pretty good in it. Wish they would have given me a jingle....

**esp1986** · December-22-09, 08:36 AM

The tax credit legislation, presumably the last step toward a historic renovation of the Broderick is awaiting Granholm's signature...

http://www.crainsdetroit.com/article...FREE/912219981

DetroitDad · December-22-09, 09:45 PM

God, could they at least take down the shredded "under development" banners? They are almost as ridiculous as the ones still hanging on in lower Midtown.

**spirit2028** · December-28-09, 05:48 AM

The building unfortunately is in foreclosure for non-payment of taxes. The owners owe Raymond $41,445.41 as of 11/1/09. The notice is posted on the front of the building.

bartock · December-28-09, 08:51 AM

Originally Posted by artds

Don't know about the Fort Shelby units as a whole, but rumor has it that one of the top floor suites is [[or at least was as recently as a few months ago) home to a certain young multi-millionaire named Mathew Stafford. [[I guess the organization rents out a few of the units there to be used as corporate housing).

Read somewhere that Ramon Santiago of the Tigers lives there also.

lefty · December-30-09, 12:16 AM

I hope they get financing before the F bomb[[foreclosure) hits.
It would be good to see some more money flowing in Michigan.

3 Mill a year in tax credits, wow, that's not a bad deal for 3 developers who got it. Taubman et al have some good lobbyists. Even Kilpatrick for US Congress gave him 500.00, interesting. Why did a highland park state rep introduce this bill in the first place? I should run for political office, there is a lot of dough I could get to throw around, maybe to other politicians who are running also.
http://miboecfr.nicusa.com/cgi-bin/c...2=amount&sched

Higgins still owns it, Beal has about 5% or so interest from what ive read.
It's wonderful to see our tax money going to these developers for thier private enterprises.

Broderick makes up one of the tallest abandoned structures on EARTH!
Guinness Book people, where are you?
http://worldmysteries9.blogspot.com/...-on-earth.html

**Gistok** · December-30-09, 03:38 AM

I don't see how foreclosure is a problem for the Broderick? Higgins got it for next to nothing, so it's probably completely paid for. The problem he's had is delinquent taxes. But he got a nice return on selling the Farewell Building, so even taxes shouldn't be a worry for him at the moment [[plus he gets advertising money for the ad on the former "Whale" space). Now financing is another story...

**esp1986** · January-05-10, 04:26 PM

The bill has been signed into law by the govenor... time will tell us if this project will finally come to fruition... here's the link:

http://www.legislature.mi.gov/[[S[[yx5...e=2009-HB-5479

PQZ · January-05-10, 04:56 PM

Originally Posted by Gistok

I don't see how foreclosure is a problem for the Broderick? Higgins got it for next to nothing, so it's probably completely paid for. The problem he's had is delinquent taxes. But he got a nice return on selling the Farewell Building, so even taxes shouldn't be a worry for him at the moment [[plus he gets advertising money for the ad on the former "Whale" space). Now financing is another story...

You still don't get it. Like the ad revenues, Higgins has no intention of actually reinvesting that money. He is a slumlord that folks continually defend because they buy his poor little guy fighting the good fight routine.

Fuck that shit. I bumped into him on a flight from NYC to Detroit a few years ago. He was flying first class after spending 3 weeks skiing in the Swiss Alps on his annual vacation. Two days later he was pleading poverty and that he had no money to pay the $36,000 or so in back taxes.

You listening Detroit Dad? While you defend the Leland Apartments, Higgy's out blowing your rent cash on parties and trips.

He simply doesn't give a fuck.

**Hermod** · January-05-10, 06:49 PM

Originally Posted by mcsdetroitfriend

I think it's great plain and simple! Get rid of all those creepy dentist chairs on the upper floors!

Back in 1950, my orthodontist had his office in the David Broderick Tower. In 1952, he moved out to a medical arts building in the northwest [[Meyers Rd) area. My mother would take me downtown for the appointment, then we would go over to JL Hudson [[my mother's second home).

**French777** · January-13-10, 05:44 PM

With the Historic Tax Credit passed for the Broderick Tower, does that mean this project is going forward definitely?

**esp1986** · January-13-10, 07:44 PM

Originally Posted by French777

With the Historic Tax Credit passed for the Broderick Tower, does that mean this project is going forward definitely?

From what I have read from the documentation submitted by Fred Beal to the state legislature, the project could be shovel ready within 90 days of receipt of the tax credit, so I would look for it to begin around April 1. Keep looking on this page... when it begins, there will be a post or two on here, if from no one else, from me.

**Gsgeorge** · January-15-10, 02:24 AM

Originally Posted by esp1986

From what I have read from the documentation submitted by Fred Beal to the state legislature, the project could be shovel ready within 90 days of receipt of the tax credit, so I would look for it to begin around April 1. Keep looking on this page... when it begins, there will be a post or two on here, if from no one else, from me.

Wow, this would be so amazing if it finally happened. Combined with the Book Tower & light rail this could have a lot of impact on downtown. Looking forward to it and keeping my finger's crossed.

**esp1986** · January-15-10, 09:17 AM

Originally Posted by Gsgeorge

Wow, this would be so amazing if it finally happened. Combined with the Book Tower & light rail this could have a lot of impact on downtown. Looking forward to it and keeping my finger's crossed.

Well that WOULD be fantastic... BUT as for the Book Tower, the prospects of that happening are becoming more scarce each day... Key Investment Group, the company who announced the Book Tower Project, was to close on the building in November and announce a number of other projects in December, and to this point neither have happened... It seemed awfully fishy for a private investment group to announce a project like that with no public funds, so don't be surprised if it never happens... good news here is that John Ferchill is likely still interested in the Book.

As for M-1 Rail, the prospects are much better than the Book Tower at this point, but it is still a long road to fruition, but all we can do is hope, and with the major backers this time around, things are looking up.

**rb336** · January-15-10, 10:15 AM

Originally Posted by Gsgeorge

Wow, this would be so amazing if it finally happened. Combined with the Book Tower & light rail this could have a lot of impact on downtown. Looking forward to it and keeping my finger's crossed.

it's a defnite go. Beal is getting new pricing from the subcontractors they had on board back in '08 as we speak