Dan Gilbert: Hello Federal Reserve Building

[Jason]

He's a stable owner who will run the buildings right. As far as can tell the well managed buildings downtown are the ones that have decent occupancy.

[Gistok]

So far everything he's bought has been in relatively good condition, and in the Financial District, except for the Madison Building.

I am surprised by some of his choices... but they're well maintained buildings.

But didn't his original plans called for a residential and entertainment component to his downtown move. None of the buildings mentioned so far fit the bill for residential [[or entertainment). So I'm curious... what will be [[if any) choices be for residential component?

Will Grand Circus Park with the residential in the Kales and Fyfe building, and the impending residential in the Broderick, and Hotel/residential combo in the Whitney... will that be the next area he looks at? Or continue to clean out the financial district first?

I would tend to think that Ilitch and Gilbert are on the same page.. Atanis Ilitch is a good friend of Dan Gilbert... and Mike Ilitch must be pleased with the Gilbert investments in downtown... since there seems to be no competition between the two... sports or investments wise.

Mike Ilitch is probably pleased about the Madison Bldg. purchase... after all if he would have wanted it... he could have had it by now. Also, I bet if Gilbert were to have an interest in the Fine Arts Building site [[Facade) as new build residential or commercial, Mike Ilitch might be happy to sell that site so that he won't be saddled with a Fine Arts Building rebuild, and yet still get to keep the Adams lot.

Then there's the United Artists Building/theatre... it has been quiet for some time... but not before it was stabilized. I wonder if it was prepped for a future Gilbert initiative. After all it seems that Gilbert wants to buy buildings that are in halfway decent shape.

I guess we'll have to see what the future holds...

[Jason]

The First National Building was bought by the Northern Group [[along with a bunch of other buildings downtown including the Penobscot Building) and ran into the ground by them.

I don't know anything about the ownership of Chase Tower but it was half empty even though it has large floors and a great location. It seems kept up well enough but I don't know why it wouldn't be full.

[stasu1213]

I would be nice if Dan Gilber purchases Lafayette Towers and encourange some of his employees to become tenants there. They would be closer to their jobs. I believe that he could make the improvments needed to bring them back to being luxury highrise apartment.complex again. Just imagine the waiting list that would be created

[Gistok]

The First National Building was bought by the Northern Group [[along with a bunch of other buildings downtown including the Penobscot Building) and ran into the ground by them.

I don't know anything about the ownership of Chase Tower but it was half empty even though it has large floors and a great location. It seems kept up well enough but I don't know why it wouldn't be full.

When you say "ran into the ground by them".... are you implying deferred maintenance, such as elevator maintenance, paint peeling.... what other problems?