Fowler Building Foreclosed On

I haven't seen this discussed yet. The Fowler Building went into foreclosure last Summer, meaning the Twelve-25 loft development is officially dead. The building is now up for sale again by the Beal Group [[I think).

For those who remember, the retail tenants of the Fowler Building were kicked out shortly before the Super Bowl, so that the building could be converted into luxury condos. The project started going forward just as the mortgage crisis materialized to stop it [[along with at least a dozen other announced developments).

They were advertising lofts for $190k http://www.downtowndetroit.org/ddp/i...5_exterior.jpg

I just stopped by the Lofts of Merchants Row today to to inquire about
leasing for early next year, and the leasing agent mentioned that the Fowler
building recently changed hands. She said that a developer from NYC is planning to develop the building into residential apartments [[16-18 in total). She wasn't sure when they were planning to start work. Has anyone else heard this rumor?

I had heard that as well, but I don't remember where.

Bumping this gem because the Fowler Building is this black hole between Under Amour and the Hudson Cafe/Nike stores. Any update on this building? Does Dan own it yet? At least 1217 Woodward is also getting rehabbed.

A month or so back I noticed a new blight violation taped to the front windows of the building. It's been handing there ever since...

https://www.crainsdetroit.com/real-e...dward-downtown

Excellent news! Though not not Dan Gilbert, at least he has a track record...

One of the last abandoned buildings on Merchant's Row.

New Yorker's are trash human beings.

The sellers are the same trash who own the CPA Building in Corktown. I imagine they're waiting to sell that at a premium while having done nothing to the building.

Quote:

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Originally Posted by Worldsgreatest

New Yorker's are trash human beings.

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I hear where you’re coming from but when Detroit offers opportunity of this magnitude, you know we’re on our way UP. I mark this down as another WIN for the city.