Gilbert Buying the Dime

**detroiter79** · June-25-11, 12:19 AM

Has Gilbert indicated whether he's going to relocate any out-of-state firms [[Quicken, etc)?

**the rock** · June-25-11, 06:57 AM

Sammy the Barber is still going strong at his shop in the Dime Building. He still has a customer who drives in from Chelsea for his hair cut. And several lawyers both in Detroit and the suburbs remain on his client list. Sammy is the best!

**Danny** · June-25-11, 09:21 AM

Dan Glibert is actually buying all of Downtown Detroit He might as well buy the Penobscot Building, too.

WORD FROM THE STREET PROPHET

Welcome to Glibertown, pop. 75,000.

NEDA, I MISS YOU SO.

**downtownguy** · June-27-11, 08:40 AM

As I was reading the latest post to the Whitney Building thread, I wondered, with all the demand for housing downtown now thanks in great part to Dan Gilbert, why isn't he buying up buildings for residential? Does anybody familiar with the economics of residential or the real estate scene have any insight into this? Does he have less risk with commercial? Seems to me it would be all part of a vertical business strategy.

**rbdetsport** · June-27-11, 08:50 AM

Originally Posted by downtownguy

As I was reading the latest post to the Whitney Building thread, I wondered, with all the demand for housing downtown now thanks in great part to Dan Gilbert, why isn't he buying up buildings for residential? Does anybody familiar with the economics of residential or the real estate scene have any insight into this? Does he have less risk with commercial? Seems to me it would be all part of a vertical business strategy.

The way I see it, he is trying to make a big splash. He is bringing the workers and potential future residents down first and getting the younger people to see the potential. Then comes the residential when the demand seems to become endless. There may be a demand now, but when the downtown office market hits a boom time, so will residential demand.

**Scottathew** · June-27-11, 09:37 AM

I like rbdetsport's view.

Bring the jobs down first. Moving to Detroit won't be for everyone, but young folks and couples that are looking to work before they have kids will move here. And then who knows from there, maybe someone of them will stay once they have kids.

**detroiter79** · June-27-11, 10:17 AM

Originally Posted by downtownguy

As I was reading the latest post to the Whitney Building thread, I wondered, with all the demand for housing downtown now thanks in great part to Dan Gilbert, why isn't he buying up buildings for residential? Does anybody familiar with the economics of residential or the real estate scene have any insight into this? Does he have less risk with commercial? Seems to me it would be all part of a vertical business strategy.

I've heard that they're looking at purchasing/creating housing for their employees, but the real concern is schools and daycare - I've heard chatter that they're looking at tackling those issues as well...

**downtownguy** · June-27-11, 01:13 PM

Originally Posted by 48091

Bring the jobs down first.

Yes, I get that. He's already bringing the jobs down personally and he can be bullish just based on the demand for office space he's creating. But there's more supply of office space even after accounting for his employees. Sure, he's also recruiting other businesses, but until they sign a lease, he's taking some risk on filling the buildings he's buying. On the other hand, it appears that demand for downtown residential is at, or exceeding, supply. Just seems a better bet to put your money on residential now.

**spiritofdetroit** · June-27-11, 11:28 PM

he will be getting into residential...

think of a residential building available surrounding the buildings he's just purchased... think...

**spiritofdetroit** · July-12-11, 09:28 PM

Dont be surprised if you hear another major development from Gilbert... one that is similar to the original plan he had... involving a certain property he had an option on

**stinkytofu** · July-12-11, 09:42 PM

Originally Posted by spiritofdetroit

Dont be surprised if you hear another major development from Gilbert... one that is similar to the original plan he had... involving a certain property he had an option on

Ok, I'll bite. What are you talking about? What building do he have an option on that is residential in that area of downtown?