New Residential Coming Soon?

**401don** · October-07-11, 08:12 AM

http://www.crainsdetroit.com/article...OG08/111009928

**Scottathew** · October-07-11, 08:35 AM

One of the reasons why I keep trying to tell people that, albeit slowly and perhaps only in certain areas, Detroit is coming back.

Fix Police, Fire, and Schools, and then we'll see even more.

**WPitonya** · October-07-11, 09:04 AM

Hopefully when the article said he pointed to buildings nearby, he was pointing to the Book Tower. That would be an incredible renovation/restoration success for the CBD. I feel like the Farwell Building and the other smaller ones around Capitol Park would be good buildings for Dan Gilbert to try out his hand at owning/managing residential properties.

**DetroiterOnTheWestCoast** · October-07-11, 11:25 AM

I like the fact that they have renamed the place "Detroit City Apartments." They are not afraid of the name "Detroit"!

I also like the fact that he said new housing is needed in different forms and prices. As much as I am biased towards restoration and renovation out of a love of the older buildings, there is plenty of vacant land for new buildings. And there definitely is a need for upscale housing for some folks with the means, as well as cheaper alternatives for those just starting out or trying to claw their way back in this economy.

**animatedmartian** · October-07-11, 12:01 PM

I've always thought that Trolley Plaza looked ugly. Almost communist-y. Especially next to the older architecture. I'm glad that they plan on improving it.

**daniel_duggan** · October-07-11, 12:37 PM

Originally Posted by WPitonya

Hopefully when the article said he pointed to buildings nearby, he was pointing to the Book Tower. That would be an incredible renovation/restoration success for the CBD. I feel like the Farwell Building and the other smaller ones around Capitol Park would be good buildings for Dan Gilbert to try out his hand at owning/managing residential properties.

He said he wasn't ready to publicly commit to anything else, but did point to a few buildings that are within view from the apartment's penthouse, sort of as a sweeping gesture. As in, "there are a lot of great opportunities right here ..." He did not, however, point in the direction of the Book Tower. All that being said, I wouldn't rule out anything with this guy, he has a lot of resources and seems very motivated.

**corktownyuppie** · October-07-11, 12:44 PM

Originally Posted by DetroiterOnTheWestCoast

I like the fact that they have renamed the place "Detroit City Apartments." They are not afraid of the name "Detroit"!

I also like the fact that he said new housing is needed in different forms and prices. As much as I am biased towards restoration and renovation out of a love of the older buildings, there is plenty of vacant land for new buildings. And there definitely is a need for upscale housing for some folks with the means, as well as cheaper alternatives for those just starting out or trying to claw their way back in this economy.

I don't think this point can be emphasized enough. For as long as I've been around, people have been trying to *remove* the word Detroit from their branding. There is a new shift in the perception of the city, and it's nice to see that companies are seeing it as a plus.

I'm telling you, as capital -- especially outside capital, not just the City of Detroit Pension fund -- continues to move into the city, you will see big shifts. I'm excited to see the next 5-10 years of downtown development.

**cmubryan** · October-07-11, 01:16 PM

As the former Regional Manager for the building when Village Green took over in 2009-2010, I can tell you that filling up the building was simple. Here's why: People were just looking for quality, decently priced, dependable living in the city managed by landlords who cared. That is what we were able to provide them. When residents had concerns, we addressd them. When prospective residents came to tour the building we happily toured them and showed off fresh and clean apartments. When residents broke the rules or didn't pay the rent, we kicked them out. Before the renovation, we were filling it up. All that the renovation is allowing VG to do now is to attract a more luxury-seeking renter, a renter by choice. Rents will go up and so will the socio-economic status of the renters.