Schostak Bros. plans $111M 16-story office building downtown Detroit office tower

UPDATE May 30, 2014: Is the Project Stalled? Jump to Update Discussion >>

===============================================
This just came in via my Crain's Detroit Business alerts...

The site is to be at 32 Monroe and 825 Bates St. is bounded by Monroe, Farmer Street, Bates, Woodward Avenue and Cadillac Square.

UPDATE: Rendering released by Schostak and posted by Bassab here.
http://www.crainsdetroit.com/apps/pb...v=201307121405

UPDATE 2: Posted by Spartan here.
http://detroit.curbed.com/uploads/rearoftower.jpg

http://detroityes.com/webisodes/2013/schostak-site.jpg

Quote:

---

Livonia-based Schostak Bros. & Co. plans to build a $111-million, 16-story office building on Monroe Street downtown, the first new major office building construction in Detroit’s central business district since construction on One Kennedy Square began in 2005.

The Detroit Brownfield Redevelopment Authority’s nine-member board has reviewed a $27-million brownfield tax incentive plan for site preparation and infrastructure improvements for the building, which is expected to include first-floor retail space and a parking deck wrapping around Cadillac Tower facing Campus Martius.

Questions about the proposed building’s size were not immediately answered late Monday. Its parking deck would house 1,000 cars.

---

and a fly in the ointment...

Quote:

---

A timeline for the building’s construction is not known.

---

Source

So this is the site of the former "Monroe Block" of antebellum historic structures that was torn down in the 1990s. This should improve the chances of redevelopment of the block next door that the National Theatre sits on.

This is also the site of that "Frank Gehry" type circular pair of towers that were planned just a few years ago, but never made it past the planning stages. Will be very curious to see the design.

Fronting on Woodward, I hope it looks nicer than the tower built on the Kennedy Square site across Campus Martius.

I was hoping for a mixed-used development, similar to the Hudson site plans. Maybe I'm being greedy, but I expected more. I'm hoping for some "out-the-box" design for this development, nothing boring.

Better view here, interesting how the layout of the building will be:
http://img31.imageshack.us/img31/3963/byjy.png

I wonder if schostak is contemplating a move

It's a really big site...I echo the hopes for a next-level design-- hopefully not too monolithic. Gthomas, I agree, the market really seems to justify dedicating part of this to residential and theoretically building something a bit taller. I wonder if this will be expressed at the Planning Board meeting.

Bottom line: great news for the reconstitution of a great American downtown.

want to bet its 15 stories of parking with retail on the first floor? 1,000 is a lot of spaces! I hope they can hide it well!

Quote:

---

Originally Posted by DetroitPlanner

want to bet its 15 stories of parking with retail on the first floor? 1,000 is a lot of spaces! I hope they can hide it well!

---

Well, I don't think they are going to build 15 stories of parking, but with that footprint it looks to me as if it would be at least three and probably four. Regardless, if they do put in something other than parking at ground level it would be a major improvement over what is there now.

I'm disappointed. A mixed-use development would have been ideal. Instead of 1000 parking spaces, a residential tower taking up some of that space would have been nice.

wonder how many empty office buildings schostak owns right now.
but hey, build another one...

Quote:

---

Originally Posted by mwilbert

Well, I don't think they are going to build 15 stories of parking, but with that footprint it looks to me as if it would be at least three and probably four. Regardless, if they do put in something other than parking at ground level it would be a major improvement over what is there now.

---

Count the number of cars there now, cut it in half to account for space used up by any set-back, ramps, turning radii, poles, stairwells, and elavators and divide it into 1,000. That should give you an approximation of how many floors of parking you would need. I don't have time to count those cars! :)

In Detroit's case we can either build new offices or lofts or renovate the existing ones. Which would you rather see? More office space chasing after the same tenants or higher occupancies in the old historic buildings?

excited to see development being talked about by locals other than Gilbert, but I'm disappointed that there seems to be a lack of vision. there are three sites downtown that have to power to really change things that we need world class development for, statler, Hudson's, and Monroe. Monroe lends itself best to something tall that really makes an impact. a 16 story office building seems like a wasted opportunity.

interesting. I wonder when the final plans for the building will be drafted.

Quote:

---

Originally Posted by compn

wonder how many empty office buildings schostak owns right now.
but hey, build another one...

---

Thank-you!

I doubt Shostak would build on speculation at this point, I'm guessing they have a tenant lined up. Perhaps Quicken for its HQ? Considering his other properties in that immediate area, location would be ideal. We park in that parking lot, we have been told parking will no longer be available effective January 1st [[but haven't been given a reason). Perhaps this is being fast tracked, to coincide with Gilbert's desire to have everything open together in 2015?

Just a guess.

Quote:

---

Originally Posted by DetroitPlanner

Count the number of cars there now, cut it in half to account for space used up by any set-back, ramps, turning radii, poles, stairwells, and elavators and divide it into 1,000. That should give you an approximation of how many floors of parking you would need. I don't have time to count those cars! :)

In Detroit's case we can either build new offices or lofts or renovate the existing ones. Which would you rather see? More office space chasing after the same tenants or higher occupancies in the old historic buildings?

---

The current layout parks 240 cars. While you do need to take out a bit extra for an elevator and service equipment area, the rest of the layout, including the ramps, is accommodated in the same aisle width as an aisle of parking. You lost maybe a foot or two in between rows for the walls, but I'd say you could count on 200 space per floor. Now, that's still 5 floors of a 15 story building, so probably would be 1 retail, 5 parking, 9 office. Compuware is 15? but if you had 5 parking, those floors are usually shorter... probably around the same height, I guess. I'm on the fence, but I think I'd rather see 5 - 15 story buildings with ground floor retail and parking than one 75 story building. We have land to spare and gaps to fill... this would fit nicely into the character and form of the CM area.

I realize this is basically impossible but it would be cool if the old "Bishop" streetlight in the alley right behind the Cadillac Tower could be carefully plucked off the site and preserved someplace before they clear the lot to build on the site. Unimportant and diminutive though it may be, it's kind of staggering to think that that wooden and iron lamp has survived in the same spot for probably 100 years, witnessing all kinds of back alley things for a century.

Don't know what streetlight I'm talking about? It's easy to miss. I dates from the early era of the Public Lighting Commission and can be seen on the lower left in this photo:

http://www.emporis.com/images/show/248805-Large.jpg

Quote:

---

Originally Posted by DetroitPlanner

In Detroit's case we can either build new offices or lofts or renovate the existing ones. Which would you rather see? More office space chasing after the same tenants or higher occupancies in the old historic buildings?

---

I'd prefer renovation, but I expect the renovation to mostly be into residential, so I don't mind new office space. I like almost anything better than surface lots.

Quote:

---

Originally Posted by bassab

I doubt Shostak would build on speculation at this point, I'm guessing they have a tenant lined up. Perhaps Quicken for its HQ? Considering his other properties in that immediate area, location would be ideal. We park in that parking lot, we have been told parking will no longer be available effective January 1st [[but haven't been given a reason). Perhaps this is being fast tracked, to coincide with Gilbert's desire to have everything open together in 2015?

Just a guess.

---

seriously doubt Quicken would move to a new building they don't own

So we bitch, moan and groan about people being negatve when positive stuff doesn't hapoens, and we bitch, moan and groan when something positive finally does happen.

I guess that's Pure Michigan!!! Or as Chrysler would say, "This is the Motor City, and this is what we do."

Quote:

---

Originally Posted by 313WX

So we bitch, moan and groan about people being negatve when positive stuff doesn't hapoens, and we bitch, moan and groan when something positive finally does happen.

I guess that's Pure Michigan!!! Or as Chrysler would say, "This is the Motor City, and this is what we do."

---

This. It's replacing a surface lot with something that's not a majority parking structure.

Quote:

---

Originally Posted by southen

excited to see development being talked about by locals other than Gilbert, but I'm disappointed that there seems to be a lack of vision. there are three sites downtown that have to power to really change things that we need world class development for, statler, Hudson's, and Monroe. Monroe lends itself best to something tall that really makes an impact. a 16 story office building seems like a wasted opportunity.

---

Agreed. Seems like everything that's being put up is in the 12-16 story range. It'd be nice to see something 30-40 stories put up, possibly mixed use. Is there some sort of invisible line at this range where it becomes much more cost prohibitive to build any taller than that?

Quote:

---

Originally Posted by Eber Brock Ward

Quote:

---

http://www.detroityes.com/mb/images/misc/quote_icon.png Originally Posted by 313WX http://www.detroityes.com/mb/images/...post-right.png
So we bitch, moan and groan about people being negatve when positive stuff doesn't hapoens, and we bitch, moan and groan when something positive finally does happen.

I guess that's Pure Michigan!!! Or as Chrysler would say, "This is the Motor City, and this is what we do."

---

This. It's replacing a surface lot with something that's not a majority parking structure.

---

..tbd if that ends up being true. I mean how are those condos going on top of the parking deck at the Book Caddilac? I think we can all recognize that a new build is a positive, and I think it's more than reasonable to be very wary about what is actually going to be built. And what that new expanse of office space will do for the "at risk" buildings. Grandiose plans abound, however, execution is not a strong suit around here.

schostak going public with this announcement typically means they're fishing for tenants to meet leasing requirements to gain financing [[office requires 80+% leased prior to financing)...depending on development incentives. i am surprised their public announcement didn't come with a major tenant announcement and building rendering. :confused:

Quote:

---

Originally Posted by 313WX

So we bitch, moan and groan about people being negatve when positive stuff doesn't hapoens, and we bitch, moan and groan when something positive finally does happen.

I guess that's Pure Michigan!!! Or as Chrysler would say, "This is the Motor City, and this is what we do."

---

Skepticism is healthy in these parts. Packard, that gigantic Cadillac Square [[Cadillac Place?) development, everything to ever do with the riverfront between Chene and RenCen, etc. I think its a legit worry to have, that this development will not pan out in the best interest of the city. I'm still excited, but I think we need to discuss what would be best.