Detroit State Savings Bank Owner Wants to Demolish Historic Structure, Build Parking

**stinkytofu** · August-23-12, 03:15 PM

Originally Posted by TexasT

Sounds like it is going to be very difficult to actually raze the building. Thank God.

If it became anything like the Michigan Theatre I'd be super pissed as well. What a disgrace that is.

**TexasT** · August-23-12, 03:19 PM

Originally Posted by stinkytofu

If it became anything like the Michigan Theatre I'd be super pissed as well. What a disgrace that is.

Oh wow, just googled and read about that. Awful.

**Bham1982** · August-23-12, 03:26 PM

What is the solution, though? The problem is that there aren't really better alternatives.

Given present market conditions, there are two outcomes- First option is the building is demolished for Penobsot parking, and the Penobscot is a competitive building with a future. Second option is that no parking is added, and the Penobscot continues to wither away.

Downtown Detroit office space needs adjacent [[preferably attached, with direct access) parking. Absent this amenity, the building isn't worth much, and usually eventually abandoned.

Obviously there are ideal situations that would both preserve the old bank building and allow the Penobscot to thrive. The problem is that none of these solutions are within striking distance of present reality.

**stinkytofu** · August-23-12, 03:31 PM

Originally Posted by Bham1982

What is the solution, though? The problem is that there aren't really better alternatives.

Given present market conditions, there are two outcomes- First option is the building is demolished for Penobsot parking, and the Penobscot is a competitive building with a future. Second option is that no parking is added, and the Penobscot continues to wither away.

Downtown Detroit office space needs adjacent [[preferably attached, with direct access) parking. Absent this amenity, the building isn't worth much, and usually eventually abandoned.

Obviously there are ideal situations that would both preserve the old bank building and allow the Penobscot to thrive. The problem is that none of these solutions are within striking distance of present reality.

Walking one block to a structure is likely less walking then someone would do if they worked out in suburbia and had to deal with one of those sprawling corporate parking lots that goes on for ages.

**stinkytofu** · August-23-12, 03:33 PM

Hell, build a damn structure on that stupid park they built where the Lafayette Building was. The city already completely f'ed up that whole situation...and that's also only a block from the Penobscot.