Broderick Tower Official Thread

**DetroitHabitater** · December-03-10, 06:50 PM

Call me when they are no longer using the word 'pending'

**esp1986** · December-03-10, 09:26 PM

Originally Posted by Gistok

Unfortunately the top of the Broderick was "modernized" back in the mid 20th century... there used to be a fancy cornice around the top, as well as a "Chippendale" pediment on the top of each of the sides. Unfortunately J. C. Beale mentioned in the past that they would not be replaced during any renovations/restorations. A pity.....

I believe I read that some of the cornice remained until just a few years ago and it was JC Beal that removed it... but again that's just what I read.

**begingri** · December-04-10, 01:53 PM

Downtown Detroit's long-dormant David Broderick Tower will be renovated for residential apartments under a financial deal in the process of closing soon.

Fred Beal, president of the Ann Arbor-based JC Beal Construction and the representative of the owners of the project, said Friday he hoped the closing would be completed within days.
Robert Kraemer, president of Kraemer Design Group, a Detroit architectural firm working on the project, said the financial closing is expected to be finished by early next week, with Bank of America and other financial entities providing financing.
"It's as real as it gets," Kraemer said Friday. "It's exciting. It's a real deal."
The building is at 10 Witherell, on the southeast corner of Woodward and Grand Circus Park.
The renovation is expected to cost at least $40 million.
Work is expected to begin soon after the financial closing is complete.
Built in 1927 and designed by architect Louis Kamper, the 34-story tower was initially known as the Eaton Tower, but got a name change after businessman David Broderick bought it in the 1940s.
The building has been vacant since the mid-1980s but has had a bar on the first floor.
The developers consist of a diverse ownership group of about two dozen individuals and entities, including the Higgins Family Trust, which has owned the building for many years.
Plans call for the office tower to be renovated into about 120 rental apartments, with the ones on the upper floors being among the highest rental apartments in the city.
Like all recent deals downtown, the Broderick project is taking advantage of various tax credits available to such projects.
Plans to renovate the Broderick had first been promised as early as 2005, but difficulties in financing a deal, particularly during the recession and real estate crash, have delayed the project.

Read more: Broderick Tower in Detroit to become apartment building | freep.com | Detroit Free Press

**bibs** · December-04-10, 11:28 PM

I wonder if the decision by Quicken Loan to move more employees downtown indirectly helped the developers obtain financing of this project?

**esp1986** · December-04-10, 11:59 PM

Originally Posted by bibs

I wonder if the decision by Quicken Loan to move more employees downtown indirectly helped the developers obtain financing of this project?

I'm sure that was a factor in their pitch to the bank to obtain the financing. The fact that downtown rentals are very near capacity with demand continuing to rise would certainly help convince a bank that the project is viable, especially with the tax credits they continue to amass.

**Dan** · December-05-10, 11:22 AM

skippers rule?

gdogslim · December-07-10, 05:49 PM

I hope it rolls forward, it would definatley help downtown.
Would these be considered tax breaks for the Rich?

**spiritofdetroit** · December-07-10, 07:01 PM

Interesting that there's no mention of this elsewhere.... figured Crain's might have some info...

**Gsgeorge** · December-08-10, 08:48 AM

Maybe Crain's is waiting until financing really IS secured, as opposed to 'almost' secured. I can't even remember how many times we've heard this building is being renovated over the last 5 years, and absolutely nothing happens. Frustrating.

**Planner3357** · December-09-10, 11:31 AM

Just got this email...

Ryan
The Broderick Tower Building is being re-developed as 127 apartments on floors 5-34, with 3 floors of office on floors 2-4, and a restaurant below. Parking will be provided in the Grand Circus Park garage directly across the street and surface lots nearby, and lots more information on the project is available at www.brodericktower.com With construction just starting this fall however, the apartments will not be available until approximately September 2012. We will be in a position to provide more specific pricing and schedule information once the project is underway.
Thank you for your interest.
Fred
Fred J. Beal, President
JC Beal Construction Inc. and
MOTOWN CONSTRUCTION PARTNERS LLC
Cell: 313-282-3617 fjbeal@jcbeal.com
www.jcbeal.com

**Pcm** · December-09-10, 01:28 PM

That is the same email response I've received, too. Once this year, and once last year.

**Mind field** · December-09-10, 01:41 PM

It's the same email they send to everyone, and the same they've been sending out for years. The only thing they change is the date.

**Planner3357** · December-09-10, 01:56 PM

Originally Posted by Mind field

It's the same email they send to everyone, and the same they've been sending out for years. The only thing they change is the date.

I figured as much. As if the president of the company would send that. I love how generic it is.

I replied to the email saying thanks for sending me a generic computer generated response.

**bailey** · December-09-10, 02:54 PM

Is that a snazzy new website though?

**mkurlyandchik** · December-09-10, 03:08 PM

No. That website has been up for quite some time, too.

**stinkytofu** · December-11-10, 10:28 PM

This wasn't announced last week, was it? Shocking.

**raptor56** · December-12-10, 01:25 AM

How did JC Beal get involved with this project? Every time I've heard about a "redevelopment" of the Broderick tower over the past 5 years, Beal has been part of it, but has never done anything.

**1953** · December-15-10, 11:06 PM

A friend of mine who works for the MEDC and is in a position to know such things just posted on his Facebook page that the Broderick Tower has officially secured the last piece of funding it needs to move ahead with its renovation project.

**French777** · December-19-10, 10:29 AM

Great news! A whole slew of good news has been pouring into the greater downtown Detroit area in the past couple weeks! End out 2010 Strong Detroit!

gdogslim · December-20-10, 10:21 AM

Excellent, I bet the top floors will be the first to go to the oweners investors.
I hope they checked the construction contract carefully, and don't default to the investor contractor because of cost / time overruns and revenue shortfall and not meeting deadlines.

**Eric_c** · December-21-10, 12:40 PM

Redevelopment banners went up on the Broderick today.

**DetroiterOnTheWestCoast** · December-21-10, 03:06 PM

A banner might not be as good as workers, but does bode well. Cautiously optimistic.

**buzzman0077** · December-21-10, 03:10 PM

Was very excited to look out the window and see workers hanging the banner this afternoon. Maybe this means it's really going to happen this time. Will be watching closely for workers over the next few weeks.

**jt1** · December-21-10, 03:39 PM

My guess is that the city went to the owners and told them to do something or face getting fined. They'll announce plans, hanga banner, do nothing then wait until the city threatens fines again to make another 'announcment'

**esp1986** · December-21-10, 04:08 PM

Banners aren't really doing much for me... they put banners up about 5-6 years ago and all that remains are the ropes with a few tatters attached to them.

Let me know when you see a dumpster, work trucks and most importantly, workers.