Gilbert aims to add apartments in historic Capitol Park

**emu steve** · February-20-15, 05:18 AM

Originally Posted by erikd

I'm confused by this post...

So the economy is not actually strong, but continuing the recent gains in Detroit has led some people to think that it is dependent on maintaining the current strong economy that doesn't actually exist?

My opinion:

Detroit's bounce back is more dependent on how far it had fallen.

Other large cities which didn't experience Detroit's problems, including bankruptcy, aren't seeing similar growth.

Lot of it is: As things get bad, commercial real estate valuations decrease to the point that they become bargains and things start to happen.

Not unlike what happened in 2009 with the stock market. Folks started buying stocks of companies, like Ford, which were still viable and seemed very much undervalued.

**Spartan** · February-20-15, 10:30 AM

Originally Posted by royce

I have seen this parking garage open on several occasions. It wouldn't be in the owner's best interest to own a parking garage and never use it. I think those who park in it have monthly passes so it probably is not open to the public. What would be nice for this residential development would be if Gilbert/Bedrock made an agreement with the parking deck owner and built a taller deck that could be used for the residents and those currently using it.

BTW, I am amazed that this parking deck can actually hold quite a few cars given its small footprint. And it has room for a small coffee shop as well. Talk about an efficient use of space.

I think it's more just out-of-date than efficient. I doubt a garage like that would pass inspections if it were new construction.

**Spartan** · February-20-15, 10:31 AM

Originally Posted by SpartanDawg

Attachment 25916

there are actually two empty lots in capitol park currently. although i would rather them be turned into actual buildings considering their prime location. but if there was some sort of structure with ground retail, a few floors of a parking garage, then some more residential/office on top that's fine

Ah, I figured those would be too small for a garage. The one on the east side of the street might be big enough. Hadn't thought of the Merchant's Row style with an elevator though. I agree that these would be better used as new construction, if possible, though.

**Mackinaw** · February-20-15, 10:47 AM

Yeah, those lots have a lot of air space clearance with relatively smaller buildings on either side-- a great opportunity for a slender, glassy mid-rise to gracefully rise over Capital Park.

**MSUguy** · February-20-15, 12:33 PM

Originally Posted by gnome

It will be right across the street from that mysterious parking garage that is never open.

It's very much open. It's used by the Guardian Building valet, I've been shuttled their a few times there was a big traffic tie up downtown and it was quicker to do that, than bring the cars to the building. They may have some other monthly parking in it, but I'm not sure about it.