Harvard Square Building

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May-25-11, 08:25 AM
agrahlma

Harvard Square Building

Yesterday my wife and I were talking to one of the local parking lot owners and he informed us that someone is buying the Harvard Square building on Broadway - he stated that the sale will be final very soon.

http://en.wikipedia.org/wiki/File:Ha...t_Michigan.JPG

Can anyone confirm this rumor?
May-25-11, 08:40 AM
Planner3357

That would be nice. It's a cool old building that definitely needs renovating. That little stretch of Broadway has potential to be very cool. How is it living in the Library Lofts? Do you find the area convenient?

Just curious as my lease is running out in November, but I'm having a hard time finding something that offers as much as my current place....might be looking to either rent again, buy a condo, or settle down in a home in IV or Woodbridge.
May-25-11, 08:57 AM
agrahlma

Quote:

Originally Posted by Planner3357

That would be nice. It's a cool old building that definitely needs renovating. That little stretch of Broadway has potential to be very cool. How is it living in the Library Lofts? Do you find the area convenient?

Just curious as my lease is running out in November, but I'm having a hard time finding something that offers as much as my current place....might be looking to either rent again, buy a condo, or settle down in a home in IV or Woodbridge.

Agree - that stretch of Broadway has potential.

I'm actually in the Broadway Lofts [[Lafer Building). I love it here. I'll send you a message with the Pros and Cons
May-25-11, 01:01 PM
1KielsonDrive

A friend of mine bought the Harvard Square Building during one of Detroit's earlier renaissances, say about early 80's. He put a lot of time and money into it for naught, finally giving up and letting it go. I haven't been in it since. It was in quite good condition back then due, in large part, to my friend's work and investment. Is it still in good condition? Anyone have photos to post? I'd love to walk through again.
May-25-11, 09:00 PM
gthomas

Broadway has sooo much potential..Quicken loans plan on building a small building for one of its entities in that parking lot next to the Y. That will include the Madison building too. Look out for Broadway st, Park av, and lower Woodward area soon...I will give these areas 3 years to become the NEW exciting THRIVING district. Tech Companies, National and local retail, and more residents/office workers...will take over.
May-25-11, 09:03 PM
gthomas

Im interested in the Cary building on the corner of Broadway & Gratiot, does anyone know any info or contact info. Thanks
May-25-11, 11:12 PM
1KielsonDrive

Quote:

Originally Posted by gthomas

Broadway has sooo much potential..Quicken loans plan on building a small building for one of its entities in that parking lot next to the Y. That will include the Madison building too. Look out for Broadway st, Park av, and lower Woodward area soon...I will give these areas 3 years to become the NEW exciting THRIVING district. Tech Companies, National and local retail, and more residents/office workers...will take over.

Ha, ha, ha, ha.... I gave them three years about 40 years ago. And I remember acquaintances and prognosticators giving them three years long before that. I hope your right, I'd like to see something before I leave this planet.
May-26-11, 06:28 PM
stasu1213

Quote:

Originally Posted by gthomas

Broadway has sooo much potential..Quicken loans plan on building a small building for one of its entities in that parking lot next to the Y. That will include the Madison building too. Look out for Broadway st, Park av, and lower Woodward area soon...I will give these areas 3 years to become the NEW exciting THRIVING district. Tech Companies, National and local retail, and more residents/office workers...will take over.

What about the retail space that is part of the Opera House parking structure that faces Broadway. I think that some retail should be put in that spot. It appears that it was built for it. I think that Broadway just like Greektown could be a destination strip. There are two theatres, three restaurants, and unfortunately Mandees on the strip. It just need better clothing stores. Something that is not too pricey that the average income person would want to shop. I love the surrounding areas also
May-26-11, 06:33 PM
stasu1213

Quote:

Originally Posted by 1KielsonDrive

Ha, ha, ha, ha.... I gave them three years about 40 years ago. And I remember acquaintances and prognosticators giving them three years long before that. I hope your right, I'd like to see something before I leave this planet.

Forty years ago the Broadway and the areas surrounding it were becoming seedy and way dying. Broadway would had been a strip to hang out at 8 years ago but the Kilpatrick administration had slowed progress down to almost a halt on Broadway,
August-10-11, 09:09 PM
agrahlma

I was just talking to my neighbor and he said that Dennis Kefallinos just purchased this building. Can anyone confirm?
August-10-11, 09:33 PM
rjlj

I sure hope not.

Quote:

Originally Posted by agrahlma

I was just talking to my neighbor and he said that Dennis Kefallinos just purchased this building. Can anyone confirm?
August-10-11, 09:49 PM
esp1986

Quote:

Originally Posted by rjlj

I sure hope not.

I hope not too. He has no intention of renovating anything he buys in the immediate future. This is a perfect building for a low budget loft rehab. With rents rising, more of these projects are becoming viable, yet we continue to see 'speculators' like Kefallinos buying properties and sitting on them. With the Madison buildout underway, buildings in this area are looking more attractive.
August-11-11, 07:40 AM
downtownguy

I'm pretty sure Dennis has owned this building for a while. I'm also pretty sure it was on the Wayne County tax forfeiture list, but Dennis seems to have gotten out of that jam with many of his other properties. A friend who knows Dennis well says he's still the owner. About two or three weeks ago, they got one of those long dumpsters and filled it completely in one day with junk from inside the building so perhaps he has plans to do something with it finally.
August-11-11, 07:45 AM
agrahlma

Quote:

Originally Posted by esp1986

I hope not too. He has no intention of renovating anything he buys in the immediate future. This is a perfect building for a low budget loft rehab. With rents rising, more of these projects are becoming viable, yet we continue to see 'speculators' like Kefallinos buying properties and sitting on them. With the Madison buildout underway, buildings in this area are looking more attractive.

Yeah I was a little disappointed to hear that he [[may have) purchased the building. I just don’t think he will do anything with it. The asking price was somewhere in the range of 750k - 850k. However I saw an old report [[2002) that estimates that the total major improvements needed toupgrade the building for new use was somewhere on the order of $4 to $5 million.

Agree - this building would be a prime place for a younger, post college type crowd.
August-11-11, 02:33 PM
royce

Quote:

Originally Posted by downtownguy

I'm pretty sure Dennis has owned this building for a while. I'm also pretty sure it was on the Wayne County tax forfeiture list, but Dennis seems to have gotten out of that jam with many of his other properties. A friend who knows Dennis well says he's still the owner. About two or three weeks ago, they got one of those long dumpsters and filled it completely in one day with junk from inside the building so perhaps he has plans to do something with it finally.

Funny if this is true because a for sale sign has recently been placed on the building. When I say recently I'm talking maybe the last three months. If DK has always owned this, then why would a for sale sign go up if he wasn't selling it? Just saying that this seems to be an odd fact.