Clark Lofts sold to DDI Group (Freep and Stott owners)

DDI Group appears to have picked up another building downtown. I'm glad to see this building purchased, as it has been one of the few problem areas downtown as of late. Will go well with the Stott Tower renovations and Capitol Park.

http://detroit.curbed.com/archives/2...t-highrise.php

It will be really interesting to see what they do with the Freep and Stott. Also nice to see someone other than Gilbert getting into the action. That's not a dig at Gilbert, just meant as a comment to the effect that attracting other investors is a positive development.

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Originally Posted by DetroiterOnTheWestCoast

It will be really interesting to see what they do with the Freep and Stott. Also nice to see someone other than Gilbert getting into the action. That's not a dig at Gilbert, just meant as a comment to the effect that attracting other investors is a positive development.

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I agree... Gilbert has gotten some folks attention with his purchases... enough so that they're wondering why this billionaire is so gung-ho on investing. Investment begets investment. Glad to hear it.

Also, tired of all the puerile Gilbert bashing on this forum. I don't care for him personally either... but that doesn't stop me from appreciating his efforts.

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Originally Posted by Gistok

Also, tired of all the peurile Gilbert bashing on this forum. I don't care for him personally either... but that doesn't stop me from appreciating his efforts.

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This x 1000. You don't have to care for the guy to appreciate the atmosphere he is bringing to the downtown area.

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Originally Posted by Gistok

I agree... Gilbert has gotten some folks attention with his purchases... enough so that they're wondering why this billionaire is so gung-ho on investing. Investment begets investment. Glad to hear it.

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I'm hoping it's the right kind of attention. Gilbert has set an example of investing in structures. I'm hoping, as I'm sure others are, that international investors aren't lining up to buy on the cheap and just sit on property as development happens. In this case, I highly doubt these guys would buy these three buildings and let them sit, but I'm wondering if we will see more of the speculative buying that has gone on. I can see a lot of people looking at a windfall if they can gobble up property in downtown/midtown semi cheap and sit on it until an actual developer comes along.

I had noticed work being done to the brick building that sit on the southwest corner of Grand River and Griswold. The building was once blue until it was sandblasted to the original brick color. Now I see lights on inside the building. Is this a Gilbert project?

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Originally Posted by motz

This x 1000. You don't have to care for the guy to appreciate the atmosphere he is bringing to the downtown area.

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x 1000 squared. I hope this also extends to Palazuelo and the Packard Plant.