Where's Duggan and Gilbert flying around with their capes on when you need them?
Seriously, how the hell is this building being/has been neglected so badly the past, what, decade?
Is there any way the building can be seized from DDI?
Where's Duggan and Gilbert flying around with their capes on when you need them?
Seriously, how the hell is this building being/has been neglected so badly the past, what, decade?
Is there any way the building can be seized from DDI?
If mayor Coleman A Young was alive in this era. He would comment on the DDI's irresponsibility on the Freep and Stott Buildings.
"Get those Mother______ Commies out of my city!"
The Stott has been troubled since at least the mid-90s. Here is an article from the New York Times in December 1995 detailing the owner's plans to refill the faltering building:
http://www.nytimes.com/1995/12/10/us...s-detroit.html
Truth is the Stott has the same problem that the Book and Broderick had, and that's tiny floor plates not fit for modern office usage. In a lot of other cities a building like this would be able to hang on as an office building cobbling togther small tenants like law offices and such, or they'd have already been repurposed as apartment and condo buildings.
While downtown Detroit has made some incredible strides which will only continue to accelerate, I'd say we're still a few years off from being able to just go to a bank and get the financing without any hassle to repurposes buildings as tall as the Stott and Book. These size projects still require quite a bit of creative financing, you know, cobbling together multiple bank loans, city, state, and federal grants, tax credits, etc..And, to even begin this process, you first have to find a competent and determined owner as opposed to squatters waiting for everyone else around them to take the plunge so that you can flip the building.
I have no doubt the Stott's going to be renovated, but certainly not with the owner it has, now. It's pretty clear they are just trying to wait for property values to rise far enough where they can make a quick buck off of this. And now that they've allowed this to happen, they might not even get that. lol
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