Gilbert buys property at corner of Monroe & Randolph

Gilbert's companies have bought some more real estate. This time it is a property bordering the large former Compuware garage, and another pawn store across the street by the goofy Gratiot/Randolph intersection.

http://www.detroitnews.com/story/new...se/1059633001/

Pure speculation by my part, but I have to believe he will use the JL Stone property to help extend "The Belt" alley another block to the south.

Neither the JL Stone or Cash City Pawn buildings really have much exterior architectural value [[that I can tell anyway). And while I generally hate to see structures demolished, these might be two exceptions to that where it could be better if Gilbert knocked them down and rebuilt new. It will be interesting to see what happens.

I definitely think the long game here is to build on these sites. Both seem to only be part of their respective blocks, so it gives him a foot in the door into purchasing the rest and doing something larger. He has always talked about connecting different parts of downtown together, namely the Campus Marius/Woodward area with Greektown and these two parcels could play a big role in that. Then again who knows, he has been sitting on the Serman’s site for a few years now with no signs of development.

Quote:

---

Originally Posted by southen

I definitely think the long game here is to build on these sites. Both seem to only be part of their respective blocks, so it gives him a foot in the door into purchasing the rest and doing something larger. He has always talked about connecting different parts of downtown together, namely the Campus Marius/Woodward area with Greektown and these two parcels could play a big role in that. Then again who knows, he has been sitting on the Serman’s site for a few years now with no signs of development.

---

Agreed. Wait and see if you can buy the neighbors building, and then build a larger mixed used on the whole block as opposed to trying to squeeze something in on one small parcel.

I also have to believe that if nothing else, the Cash City building will come down sooner rather than later. That structure just looks bad, and it does not represent the neighborhood that Gilbert is trying to create.

I hope for an announcement soon on the liquidation sales. Especially the men's clothes.

I've said it before, but I think Broadway could be a really cool little section of nightlife in the near future. With Gilbert buying this building and Harvard Square, combined with the success of The Belt and Punch Bowl, and proposals for the alley/construction in between Broadway and Harmonie Park, I think this section of the street has a ton of potential.

Outside of Greektown and a little bit of Corktown, downtown Detroit really lacks a condensed section of bars and restaurants seen in a lot of other cities [[Cleveland, Grand Rapids, Indianapolis, etc).