Broderick Tower Residents can move in!!!

[gthomas]

Finally!!! http://www.facebook.com/stewart.beal...43557779015260

[gthomas]

Also, The Auburn residents started moving in yesterday. http://detroit.curbed.com/archives/2...-yesterday.php Can honestly say, we need more of this. Both are near capacity and with plenty of retail to follow. The demands are so strong, it's just shocking that lending is not flowing as fast as the demands are. Somethings just add up to me...

[313WX]

Also, The Auburn residents started moving in yesterday. http://detroit.curbed.com/archives/2...-yesterday.php Can honestly say, we need more of this. Both are near capacity and with plenty of retail to follow. The demands are so strong, it's just shocking that lending is not flowing as fast as the demands are. Somethings just add up to me...

It's not just Detroit, but nationwide.

Banks are still leary of lending money after the real estate crisis.

Quite frankly, if you're expecting downtown to boom at anywhere near the pace other cities did in the late 90s/early 2000s, you need to adjust your expectations or you'll be sorely disappointed. Downtown's comeback, assuming there is one and this isn't a fluke, will be a very slow but steady one.

[canuck]

It's not just Detroit, but nationwide.

Banks are still leary of lending money after the real estate crisis.

Quite frankly, if you're expecting downtown to boom at anywhere near the pace other cities did in the late 90s/early 2000s, you need to adjust your expectations or you'll be sorely disappointed. Downtown's comeback, assuming there is one and this isn't a fluke, will be a very slow but steady one.

Well there is a chance that things snowball if a few key projects do happen like the Broderick rehab into condos. I would even venture this thought; if good quality industrial properties are rehabbed like the Yellow Pages bldg into lofts in areas close to downtown, midtown; it will make a difference. If schools that would otherwise be demo'ed or vandalized are turned into safe, large residential bldgs, it will better the chances of a comeback. There is strength and safety in numbers, and that is what these larger buildings provide for folks who would like to take a chance on living in the city.

I think detroiters need the influx of people living in the dense downtown, New Center Midtown neighborhoods. This augmented density can help the lower density hoods survive. That is why a lot of concerted energy should be directed at using the attractiveness of downtown monumental architecture, promoting rehabs of older bldgs into residences, and fostering small businesses in the core. The city needs a focus, it doesnt need to multiply newfangled parking lot
schemes for office staff.

[gthomas]

Well there is a chance that things snowball if a few key projects do happen like the Broderick rehab into condos. I would even venture this thought; if good quality industrial properties are rehabbed like the Yellow Pages bldg into lofts in areas close to downtown, midtown; it will make a difference. If schools that would otherwise be demo'ed or vandalized are turned into safe, large residential bldgs, it will better the chances of a comeback. There is strength and safety in numbers, and that is what these larger buildings provide for folks who would like to take a chance on living in the city.

I think detroiters need the influx of people living in the dense downtown, New Center Midtown neighborhoods. This augmented density can help the lower density hoods survive. That is why a lot of concerted energy should be directed at using the attractiveness of downtown monumental architecture, promoting rehabs of older bldgs into residences, and fostering small businesses in the core. The city needs a focus, it doesnt need to multiply newfangled parking lot
schemes for office staff.

I think like you Canuck, density is key! Its does work..We do need a focus and we need more people on board.

[southen]

it is going to be fun seeing the spin off that comes as a result of the broderick and whitney getting residents. woodward north of campus martius going up to grand circus has incredible potential for residential and retail, especially if the hudson block gets developed in the next five years.

[corktownyuppie]

Banks are chomping at the bit to lend. Seriously. Our lending department is pushing closings from the normal 60 day out to 90 days. And subordination requests necessary to get mortgages refinanced are dealing with so much volume that they're looking at 30-45 day processing time.

But even though banks are dealing with high loan volumes, the bottom line is that they still have to lend against collateral. And valuing that collateral...especially when the collateral is a fully-constructed project that doesn't yet, is complicated.

That's what Gilbert has going for him. He doesn't need loans because he has cash. And if he does need a loan, banks will happily take other part of his portfolio or part of his business as collateral.

But that said, this is the beginning of major things happening downtown. There are already more deals in the works. Remember, it's a 18-36 month lead time to go from an agreed plan to an actual final product.

Next 5 years look pretty f-ing incredible, and it's starting to trickle out into west downtown, new center, corktown, and maybe even virginia park.

[stasu1213]

It's not just Detroit, but nationwide.

Banks are still leary of lending money after the real estate crisis.

Quite frankly, if you're expecting downtown to boom at anywhere near the pace other cities did in the late 90s/early 2000s, you need to adjust your expectations or you'll be sorely disappointed. Downtown's comeback, assuming there is one and this isn't a fluke, will be a very slow but steady one.

I think that there is a boom in the downtown midtown area. It may not be in the way of retail shopping but there is another boom. A population moderate boom. More people live and play downtown than there was in the 90's and early 2000s.. New restaurants and residental had opened these past 5 years. I think that the zoning commision board sucks for some of the liquor stores they and council had allowed to operate in certain areas. More smaller businesses had opened downtown. Once retail and good transportation come then downtown Detroit would be just as exciting as any other big city's downtown

[canuck]

And the attractiveness of downtown means that Detroit needs the kind of customer and dweller that will gamble on living in the city the way they gamble at the casino. How about some of them using some of their pocket change to open up a new high end boutique in an empty Woodward avenue storefront next to the condo they are moving into. Detroit needs to get back some of the folks who ordinarily live in the Pointes or in the ritzier burbs. Bring on the wealthy investors and see what they can do for the core the same way they contribute to the museums and orchestras. Detroit needs to attract those who will want to rehabilitate and pioneer a new city.

New York has that civic sense; a haven of contrasts in lifestyle between rich and poor but it has become too rich in its core in one sense. Detroit can recapture some of the excitement of city building by redeeming its history, having the rich invest in residential and small business improvement, multiplying cultural venues [[such as opening DIA galleries in secure and central venues close to Cobo Hall) and kissing goodbye to the ubiquitous parking structure. Where else in the developed world can a guy like Gilbert get so much quality real estate for so little?

Detroit is better than what it thinks it is. Detroiters need to demand more. Detroit metro needs to merge into a political unit for this to happen. The reinvestment potential will occur once the disenfranchised rich and poor come to the realization that they are all stakeholders. If you are not a citizen, you cannot be a part of the process and therefore you are disenfranchised. The diluted reality of metro Detroit is insanely toxic to any future political progress.

So get the rich and the middle class to feel like they own the city they hold a ten foot pole to, have them have a say in its future outcome, and the city will become purposeful and complex as it was not so long ago, I fink.

[corktownyuppie]

So get the rich and the middle class to feel like they own the city they hold a ten foot pole to, have them have a say in its future outcome, and the city will become purposeful and complex as it was not so long ago, I fink.

A) I totally agree with you, and I think this is exactly what needs to happen.
B) The problem is political. There are many in the city who see civic leaders and wealthy philanthropists not as saviors, but as the enemy.

But, alas, that element is dying a slow -- but inevitable -- economic and demographic death. When 50+% favor some sort of agreement to allow Lansing to run Belle Isle, you know that attitudes are gradually shifting.

The key is not to let the extremists on either side dominate the public discourse.

[Honky Tonk]

And the attractiveness of downtown means that Detroit needs the kind of customer and dweller that will gamble on living in the city the way they gamble at the casino. How about some of them using some of their pocket change to open up a new high end boutique in an empty Woodward avenue storefront next to the condo they are moving into. Detroit needs to get back some of the folks who ordinarily live in the Pointes or in the ritzier burbs. Bring on the wealthy investors and see what they can do for the core the same way they contribute to the museums and orchestras. Detroit needs to attract those who will want to rehabilitate and pioneer a new city.

New York has that civic sense; a haven of contrasts in lifestyle between rich and poor but it has become too rich in its core in one sense. Detroit can recapture some of the excitement of city building by redeeming its history, having the rich invest in residential and small business improvement, multiplying cultural venues [[such as opening DIA galleries in secure and central venues close to Cobo Hall) and kissing goodbye to the ubiquitous parking structure. Where else in the developed world can a guy like Gilbert get so much quality real estate for so little?

Detroit is better than what it thinks it is. Detroiters need to demand more. Detroit metro needs to merge into a political unit for this to happen. The reinvestment potential will occur once the disenfranchised rich and poor come to the realization that they are all stakeholders. If you are not a citizen, you cannot be a part of the process and therefore you are disenfranchised. The diluted reality of metro Detroit is insanely toxic to any future political progress.

So get the rich and the middle class to feel like they own the city they hold a ten foot pole to, have them have a say in its future outcome, and the city will become purposeful and complex as it was not so long ago, I fink.

Yep, another high-end boutique, that'll do 'er. People are sitting around the Points wondering where can they go to buy tchotchke. Here's an idea, why don't we concentrate on something a little more basic, like let's say getting guys to quit hanging around gas stations and hassling people so more people will feel comfortable stopping to fill up?

[canuck]

A) I totally agree with you, and I think this is exactly what needs to happen.
B) The problem is political. There are many in the city who see civic leaders and wealthy philanthropists not as saviors, but as the enemy.

But, alas, that element is dying a slow -- but inevitable -- economic and demographic death. When 50+% favor some sort of agreement to allow Lansing to run Belle Isle, you know that attitudes are gradually shifting.

The key is not to let the extremists on either side dominate the public discourse.

[/COLOR]

Yes, if you keep with the status quo, this means that the black/white, have/havenot, city/burb dichotomy will accelerate the basket case scenario.
But I believe like you that if you look at what is happening politically, the idea that everybody needs to get on board will not only save but propel Detroit into new territory.

And Honky Tonk, there has to be more to the city than defensive measures. There has to be more to the city than the old clichés that divide the groups who could bring vital stuff to the table. More small to medium sized businesses in retailing would mean a boom in employment in the city core.

I think if the DIA dispersed some of its collections at certain busy parts of downtown/New Center, even in large places like the Ren Cen atrium, this would help prop tourism, retail and just general good vibe. You could introduce musical events in disused buildings on major streets to create interest where there was none. In other words, wealth is created when multiple interests are served and you only have to look at pictures of Campus Martius at the turn of the 20th Century to realize that the buildup was not instantaneous; the fact that a cigar store vied alongside a theatre, a shoe store next to a newspaper was what made the city a magnet. Festivals are successful in bringing folks into the core and reconnecting them to the potential of a great metropolis. So if you think of powerful influential people with means to effect a change, black or white, chaldean or greek, wasp or catholic; it doesnt matter where it comes from, rather where it is going. I see excitement along the riverfront as a key component of this. Detroit in spite of its reputation as an industrial city has one of the few unimpeded shorelines along its downtown in the United States.

Think of all the musical talent in the region in classical to techno and bringing these vital forces on stages not only at festival time but year round in key points of the city core. Make venues available in office building atriums, tie up tours of the People Mover where people will stop at a designated station for a special treat by their favorite artist and the city will become a cultural playground on the way to more retail, more complexity. If the city rekindles its compelling aspects, the gas station loitering might cease and inspire those who lack the spark to do better than vegetate.

[aq7588]

I can't wait for my new neighbors to start moving into their building. I live in the Book Cadillac and we are almost to capacity

[dmike76]

The Book Cadillac is almost to capacity?! I thought the Book Caddy was having trouble meeting its financial obligations due to lack of interest in the condos up top.

[gthomas]

Grand Circus Park can become a nice residential area, with Broderick Tower open and Aloft Hotel & Residence opening in 2014. I was thinking of another cool project for the Fine Arts building facade, which is being saved for future development. Chicago's http://www.thelegacyatmillenniumpark.com/ building shows a great way to develop a preserved facade and keep it's unique character of the Loop. Here's our Fine Arts Building, http://www.modeldmedia.com/devnews/finearts20409.aspx. We should add more residential along that block by doing something similar to Chicago's development.

Maybe not as tall as Chicago's, I can see a 35-story residential tower for the Fine Arts Building redevelopment site. But I do feel, whatever happens to the Statler site I hope it become a new multi-use tower, rather than just residential. Something similar to this:http://forum.skyscraperpage.com/showthread.php?t=97328. To closed off the area, build a Hyatt Hotel on the surface parking overlooking Comerica Park, next door to the Barden Building. Like this Hyatt Hotel:http://www.e-architect.co.uk/images/...gp220609_2.jpg, make it the official Detroit Tigers Hotel.

Grand Circus Park will be completed and will be THE most attractive place to live Downtown, both fountains in GCP shall be upgraded and receive much TLC attention as Campus Martius Park does. Creating foot traffic, almost up to 5,000 people around GCP daily due to several key developments. Not to mention, one of the lightrail stops will be in GCP, this area can become a detroit version of Chicago's Water Tower park.

Mid-rise residential building, similar to "The Studio One" Apartments and "The Ellington" in Midtown is a great example of successful urban fabric. More of this should be along all main-artery, not just Woodward. I believe in 5-10 years we will see Midtown filled with these type of developments, eventually spreading outward throughout the city. Imagine all Streets, Avenues, Boulevard, and Roads eventually start developing this in New Center, Northend, Virginia Park, Lafayette Park, Corktown, The Villages, Woodbridge and Eastern Market. Slowing creeping up along Grandriver, Gratiot, Jefferson st, Michigan Av towards 8 mile, eventually. Now that will be a nice resurgence, a positive economic plan. Could change zoning policies, introducing new ways to develop around here.

[hathorlive]

My friend and I went to look at the Broderick a few weeks ago. We were early and the lady showing the apartments dissed us by combining our viewing with a couple who were checking on their top floor apartment. They were half an hour late but she was more than happy to shove us aside for them.

That said, the renovation is very nice but they should have done a better job utilizing the space. The paint choices were strange and made the space feel like a morgue. The second bedroom is best used as a closet. The main bedroom would not hold a queen bed and dresser.

I'm glad that someone is renovating buildings, but they should have put more effort into creating logical spaces. And if I'm spending nearly 1700.00 a month on a place, I expect the people showing the apartment to have some basic professionalism.

I was shocked to find in our apartment search, most places had one or two units available. Some places had one unit and those were renting so fast you were encouraged to put a deposit down immediately. She ended up renting a place and offering more money than the owner was asking in order to ensure she got the space.

Someone with money is making a serious error in not building more high end units. There is a serious demand for these kinds of properties.

[gthomas]

With several sites such as the Statler and Tuller site looking for development, also being in the theater district I can see this type of multi-development happening in GCP : http://www.nyc-architecture.com/MID/MID156.htm, Time Warner Center in NYC. Combine both sites, include residential, office, commercial, hotel and Jazz Center into the concept. Fox 2 News relocates downtown and does LIVE television broadcast daily looking over GCP. Oh I'm dreaming....

[southen]

i know gilbert has quicken situated in the "qube" but that building has never seemed his style. i remember years ago there was speculation and even a rendering involving the statler site and a high rise. i would love to see him eventually move the company over there and do something incorporating the tuller with residential and united artists sites. of course it is dreaming, but it seems more "gilbert" then the building he currently occupies.

[DetroitPlanner]

I doubt he would move to the Statler site. There is a reason why he is building so many parking spaces where he is. Currently it is halfway between Compuware and the Madison as well as near his storefronts on Woodward.

[southen]

the statler site is a block from woodward and just as close to his new garage as his current hq. it puts it two blocks from the madison which could be appealing. just a thought. i dont think its out of the realm of possibilities.

[Detroitdave]

Remember these are the same banks that got us into this mess, , these are the same banks that got a bail out , some got it even if they didn't need it !
these are the same banks holding back on putting money back into the system and helping the economy , yeah, I would hold my breath on banks helping out , just look at their track record .
Now that they help create this mess they want to hold out for a SURE thing, when they were the very ones with the risky home loans and needing a bail out .
Remember too big to fail ?

It's not just Detroit, but nationwide.

Banks are still leary of lending money after the real estate crisis.

Quite frankly, if you're expecting downtown to boom at anywhere near the pace other cities did in the late 90s/early 2000s, you need to adjust your expectations or you'll be sorely disappointed. Downtown's comeback, assuming there is one and this isn't a fluke, will be a very slow but steady one.

[313WX]

Remember these are the same banks that got us into this mess, , these are the same banks that got a bail out , some got it even if they didn't need it !
these are the same banks holding back on putting money back into the system and helping the economy , yeah, I would hold my breath on banks helping out , just look at their track record .
Now that they help create this mess they want to hold out for a SURE thing, when they were the very ones with the risky home loans and needing a bail out .
Remember too big to fail ?

I'm in complete agreement with you regarding the banks, but that's a different issue Detroit has no control over.

[Gistok]

i know gilbert has quicken situated in the "qube" but that building has never seemed his style. i remember years ago there was speculation and even a rendering involving the statler site and a high rise. i would love to see him eventually move the company over there and do something incorporating the tuller with residential and united artists sites. of course it is dreaming, but it seems more "gilbert" then the building he currently occupies.

Ryan, I'm with you on this one... I believe that this may all be tied together with a future hockey barn in west Foxtown. I cannot fathom the Ilitch's spending all that money on mothballing [[and some renovations) of the UA Building if it weren't part of a bigger entertainment district. I think the Statler/Tuller/UA/Fine Arts are all sites that will be part of a bigger plan that we're not privy to... but involves both Ilitch and Gilbert. And this is the type of excitement that Gilbert really relishes... not just colorful space in the Chase Tower and other lower Woodward buildings.

[stinkytofu]

While I am very happy that this renovation is all but done, I have to admit I am a little disappointed in the concrete wall on Woodward and the fact they haven't cleaned the south side of the tower.

[gthomas]

While I am very happy that this renovation is all but done, I have to admit I am a little disappointed in the concrete wall on Woodward and the fact they haven't cleaned the south side of the tower.

I've would of like it more if they had lit up the exterior, similar to the Book Caddy. You really can't see it at night coming down Woodward but some window lights. Need more exterior lighting. They doing something fancy on the wall on Woodward, I see electrical wiring..maybe "The Broderick Tower" sign?