Fiscal reality is a funny thing... how many here thought that the Book Cadillac would ever be restored? So speaking of reality... all but the MCS are lesser projects...
Fiscal reality is a funny thing... how many here thought that the Book Cadillac would ever be restored? So speaking of reality... all but the MCS are lesser projects...
Is anyone calling it a contest? No. I only mentioned the article because it validates my point that renovations outpace highrise construction in Detroit. And that's not a bad thing. I rather see older buildings rehabbed first. When I get home I'll look for the link.
OP asked about buildings in Detroit and not specifically downtown core.
Occupancy and average rents are two different things as one could fill a highrise with tenants and have high occupancy but no profit.$1800 per month + for 700 sqft sounds close enough for starters.
A quick 5 minute internet check with a follow up phone call finds this at Detroit city apartments with 2 b 2b @ $1560 for 1152 sqft available 09/22.CC in hand could have held it.Cheap per sqft.
Broderick has a 1 bedroom also available.
Now, penthouses are, granted, a bit more hard to find.
I can see core residential units starting around $2500 for 700 sqft in about another five years,it always happens.
I would add the old Wayne County Building.
Admittedly it's a small building, but what is happening with the [[Civil War era) GAR building?
Hardly Civil War [[1861-1865) era. From Wiki:
- Detroit, Michigan: Grand Army of the Republic Building was completed in 1890 as a meeting place for the local chapter of the GAR. When membership dwindled in the 1930s, the group deeded the property to the City of Detroit who paid a portion of the construction costs. The building was listed on the National Register of Historic Places in 1986 and was vacant for many years.[39] In November 2011, the software company Mindfield acquired the building and, through the summer of 2013, spent over $1,000,000 on restoration.[40]
Even later... the GAR was finished in 1899...