Don't shoot the messenger & enjoy!:rolleyes:
https://www.freep.com/story/money/20...ia/3705464002/
[[The thread of hope is they are working with Kraemer).
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Don't shoot the messenger & enjoy!:rolleyes:
https://www.freep.com/story/money/20...ia/3705464002/
[[The thread of hope is they are working with Kraemer).
Hope Ilitch gives Kraemer a decent budget for specifying interior finishes, but I won't hold my breath.
The Broderick finishes look cheap AF and knowing the construction climate, I am prepared to be underwhelmed. I'll take the 6500/mo 2 bed at the Vinton instead.
https://thevintondetroit.securecafe....pertyId=545852
Yikes - that's steep. Vinton does have some well-known/wealthy tenants though. Arguably the "hottest" building right now.Quote:
Originally Posted by hybridy
Completely agree regarding Broderick. Top of mind the only recent downtown renovation that wound up really disappointing me.
Skipper's Rule on Eddystone.
No details. I bet the DDA pushed this on them after the HBO piece....
I won't hold my breath, but the fact Kraemer is working on the project is a good sign.
AAAAAnd the truth comes out finally, they want more public money.
It's going to cost $40.9 million and Olympia is seeking an unspecified number.
https://www.crainsdetroit.com/real-e...yer-incentives
Who would want to live in the building if it becomes the only residential building in the area? It's an absolute dead zone during the day and at night there are games some nights...but that also is a headache for driving. Unless we get more residential/hotel development in the immediate vicinity I'd have zero interest in living there.
Hey look at that. They want more taxpayer $$$ to rehab the building. What a surprise....
Thats like saying,who would want to live in the middle of a cow pasture,then five years later nothing but homes.Quote:
Originally Posted by stinkytofu
It would do well as an anchor,then more would build residential and shops etc to support,next thing you know people will be saying that they are priced out.
I would rent one just to air BNB game nights.
Up to this point not much has been done in the city without tax breaks or incentives,everything Mr Gilbert has purchased involved incentives and tax breaks.
I would not necessarily agree on stadium tax monies but in this case and this building is worth it considering everything else.
Agree, this seems much more viable as a hotel and would appeal to short term guests seeking out LCA events rather than long-term residents.Quote:
Originally Posted by stinkytofu
It's an apartment building, not a condo building. People aren't moving in as an investment.Quote:
Originally Posted by Richard
It'll likely command high rent. If it's going to command a rate in the same area as Midtown/Downtown then there are much more desirable properties.
Of course I want it renovated. Just saying it's not a particularly desirable location without additional development to activate the neighborhood.
Well maybe this building would spur more retail/dining in that area if it became residential. It could get the ball rolling on the "District". Also, the area is not a COMPLETE dead zone, there are 4 restaurants open to the public in the arena, there's Harry's, there's Bucharest and Bookie's 2 blocks to the south, the little strip restaurants on Park Avenue, the Masonic Temple, and the Temple Bar. Also, looks like something nice is going into the little 2-story building at Henry and Cass.Quote:
Originally Posted by stinkytofu
Just curious, how often do you walk that area on non-event days? There are a few isolated spots where there is activity but there is very little that is alive or urban about the area as it is.Quote:
Originally Posted by masterblaster
Also to spur other development from this you are asking people with far shallower pockets to bet on the Ilitchs actually developing their buildings and empty lots. Who would do that based on their track record?
Whatever the use or the reason... I want Ilitch to "giter done!"
There is a push [[by both republicans and democrats in the state legislatures) to restore the Michigan State Historic Tax credit, now that nerd Snyder isn't around to veto it. I'm sure that Governor Whitmer would probably sign it into law...
https://www.detroitnews.com/story/ne...it/3416001002/
I don't care if the Ilitch's use some creative financing to restore the Eddystone [[and others they own), as long as it is also available to other developers to finance building restorations.
The state historic tax credit is also supported by outstate lawmakers, since small towns across the state also have historic buildings that may need some financing.
Poverty money going to the rich.....somebody[[s) should be arrested. This is how the liberal-left rolls.....maybe it'll be sanctuary?Quote:
Originally Posted by mikeg19
Nice slippery slope there. Thank God conservatives don't do that. They don't throw money after large corporations to locate plants in states such as Alabama, South Carolina and Tennessee.... :eek:Quote:
Originally Posted by Smirnoff
I'm sure that Nashville isn't going to help out Zillionaire Bezos's with adding a lot of Amazon jobs to Tennessee.
Yeah that last comment was a real Corker. As in Bob, from Tennessee, the Republican who gave VW 550 million, largest subsidy ever given to a foreign automaker.Quote:
Originally Posted by Gistok
Good call. After spending millions of taxpayer dollars on incentives, you can't expect corporations to pay locals a living wage. They have to extract maximum profitability. Illegals will work for minimum wage, under the table.Quote:
Originally Posted by Smirnoff
I'm guessing Smirnoff gets his misinformation from Fox News "personalities" and other blowhard right wingers.
Pretty sure many here would label me "liberal-left" [[I'd take issue with the oversimplification), meanwhile literally no one on this forum has been more critical of public money giveaways for stadiums and District Detroit.
You could take your pick from dozens of examples. Here's one. And here's another where I predicted District Detroit was nothing more than a PR campaign to collect public money and said the Ilitches would try anything to renege on their promise to rehabilitate the Eddystone.
While you're at it, have a look at the membership of the Detroit Downtown Development Authority [[DDA), a subsidiary of the Detroit Economic Growth Corporation [[DEGC), and the Michigan Strategic Fund [[MSF), a subsidiary of the Michigan Economic Development Corporation [[MEDC). They're the ones giving away the money.
Lefty liberals? I think not. And I took that on too.
Crains detailing the milestones that Olympia needs to hit on the Eddystone renovations. It almost reads like something you would give a 4th grader to make sure they complete their diorama on time. But hey, at least the plan is there now and they need to follow it or that $33M credit will go to a developer who can actually complete it.
- Fifteen days from May 22 [[Thursday, June 6): Submit a building permit application to the Building, Safety Engineering and Environmental Department and request the Historic District Commission approve the installation of temporary sheeting in all windows. [[The company said in a Tuesday email it is "on track to submit the necessary materials on or before the agreed upon timelines.")
- 15 days from building permit issuance or 30 days from May 22 [[Friday, June 21): Begin installation of the temporary sheeting.
- 30 days from the start of temporary sheeting installation: Complete temporary sheet installation.
- 45 days from May 22 [[Saturday, July 6): Submit building permit application to BSEED for roof and masonry wall repairs.
- 15 days after building permit issuance for roof repairs: Begin roof and masonry wall repairs.
- 45 days from beginning of roof repairs: Complete roof repairs.
- 255 days from the start of masonry wall repairs: Complete the masonry wall repairs [[up to 75 consecutive days allowed to suspend work due to winter conditions; work has to resume on or before March 15).
- 120 days from May 22 [[Thursday, Sept. 19): Apply to the Historic District Commission for a certificate of appropriateness.
- 210 days from May 22 [[Dec. 18): Begin window installation.
- 25 months from the start of the first roof and masonry work: Issuance of a temporary or final certificate of occupancy.
That is exactly what they need to do. Then if [[or let's face it, when) they miss a deadline, they can take the money from them.Quote:
Originally Posted by mikeg19
Nice job by Crain's Detroit in putting this together. The Ills should be 100% embarrassed that someone has publicly laid out development milestones for them, 100%.Quote:
Originally Posted by mikeg19
I assume the tipping for all this sudden media loathing for the Illitches was due to the HBO special. But I wonder what those meetings were like around this topic. I keep hearing that the Illitches were pressuring the media for years not to discuss or they would withhold advertising. Guess the media had enough? I would have loved to have been in those meetings...
I wonder if Chris is up at Mackinac this week...
I really think that the Ilitch's have no 'shaming genes' in their DNA.... if they did they would have long ago developed this monstrosity in Grand Circus Park... the Fine Arts Building facade. With all the developments going on in that area... the Ilitch's are stuck in a 2009 timewarp. The excuse that they were a bit too aggressive in the District Detroit timeline becomes laughable when you realize that this is the 10th Anniversary of the Fine Arts "girder wall"!
I would love to hear their excuse for leaving this in limbo.... :mad:
The Illitches are incapable developers. The City really dropped the ball by not, for instance, insisting upon giving up all their surface parking. We know they can build parking garages, so why not force them to shift all their parking into garages and then free up excess land for redevelopment by other parties? I suppose it's too late now, and the Foxtown / District sea of parking will continue for decades to come.