GM to plan move from RenCen to Dan Gilbert’s Hudson’s tower

[401don]

Wrong. Gilbert and Bedrock could work wonders to the RenCen complex where G.M. couldn't. Bedrock could attract the right tenants to the complex. They could get new managers and planners with fresh ideas for thr complex. HM was just a car company focusing on selling cars. Sure the company did improve the complex since possessing it but that was under a different CEO and management company. Not putting all of the blame on Barra. She had inherited a company whose glory days were far behind it especially losing two brands, Pontiac and Oldsmobile.

Gilbert has done wonders for downtown but even he knows supply requires demand. He'll be happy to take a fee or equity stake in exchange for management, why not, but he won't be dumb enough to put his own money in it. It's not anyone's fault that office demand has cratered since covid but that makes the Ren Cen less desirable than ever. Meanwhile Gilbert hasn't even announced plans for the fail jail site, Monroe Blocks is on hold and he has a lot of space to fill in his existing buildings and retail spaces.

[Noah V]

Gilbert has done wonders for downtown but even he knows supply requires demand. He'll be happy to take a fee or equity stake in exchange for management, why not, but he won't be dumb enough to put his own money in it. It's not anyone's fault that office demand has cratered since covid but that makes the Ren Cen less desirable than ever. Meanwhile Gilbert hasn't even announced plans for the fail jail site, Monroe Blocks is on hold and he has a lot of space to fill in his existing buildings and retail spaces.

Monroe Blocks is gonna start in September. It would have started already but they had to use that space for the NFL draft stage.

As for putting his own money into it, if there is anyone who would put their own money into a Detroit project it’s him. I mean he’s wanted the RenCen for years now, why would he want it if he didn’t have any plans for it?

[401don]

As for putting his own money into it, if there is anyone who would put their own money into a Detroit project it’s him. I mean he’s wanted the RenCen for years now, why would he want it if he didn’t have any plans for it?

So you're saying we should hear about the purchase any day because there's no way GM wouldn't unload it now in a heartbeat.

[stasu1213]

So you're saying we should hear about the purchase any day because there's no way GM wouldn't unload it now in a heartbeat.

The beauty about Gilbert owning the RenCen is that he could lease one or two of the towers to global or international companies instead of just local. GM probably had paid off the complex a few years back. Unloading the complex may save the company millions in the long term. It's a smart move by Mary Barra to downsize to a smaller footprint while having the rest of the workforce at the tech center where there's free parking.

[401don]

The beauty about Gilbert owning the RenCen is that he could lease one or two of the towers to global or international companies instead of just local. GM probably had paid off the complex a few years back. Unloading the complex may save the company millions in the long term. It's a smart move by Mary Barra to downsize to a smaller footprint while having the rest of the workforce at the tech center where there's free parking.

And unicorns could fly people over from Metro.

[Gistok]

It's a smart move by Mary Barra to downsize to a smaller footprint while having the rest of the workforce at the tech center where there's free parking.

Um.... am I missing something here? Or are those GM built parking structures also not free parking for the employees?

[Burnsie]

GM probably had paid off the complex a few years back

All indications point to GM having paid the $72 million sale price in cash in 1996; the company had 1995 profits of $6.88 billion.

[stasu1213]

All indications point to GM having paid the $72 million sale price in cash in 1996; the company had 1995 profits of $6.88 billion.

How much did G.M. sell it's Grand Blvd location to the State of Michigan for?

[mkd]

Monroe Blocks is gonna start in September. It would have started already but they had to use that space for the NFL draft stage.

As for putting his own money into it, if there is anyone who would put their own money into a Detroit project it’s him. I mean he’s wanted the RenCen for years now, why would he want it if he didn’t have any plans for it?

Gilbert acquired the Monroe blocks long before we knew about the draft, I doubt he's been waiting around for that.

It's also news to me that "he's wanted the RenCen for years"...

[Noah V]

Gilbert acquired the Monroe blocks long before we knew about the draft, I doubt he's been waiting around for that.

It's also news to me that "he's wanted the RenCen for years"...

I believe around 2018 there were a bunch of reports that he wanted to buy the RenCen from GM