Did Gilbert Buy the Vinton Building?

**AGinthe313** · March-25-13, 09:46 AM

I just noticed this page on the Bedrock website. When did Gilbert buy the Vinton building?

http://www.bedrockmgt.com/properties/front.php?id=29

**tkelly1986** · March-25-13, 09:59 AM

Like the original plan, this would be ideal for residential units.

**AuburnSpeedster** · March-25-13, 10:42 AM

I haven't heard anything, but I do love the idea of that becoming residential. It's in a great location for it

**AGinthe313** · March-25-13, 11:51 AM

Interesting…the link at the top of this thread is now being redirected back to the Bedrock homepage.

**downtownguy** · March-25-13, 01:52 PM

Originally Posted by AGinthe313

Interesting…the link at the top of this thread is now being redirected back to the Bedrock homepage.

I mentioned that I had been hearing rumors that Gilbert bought the Vinton in another thread [[Gilbert Strikes Again!) in January. There's been no public announcement that I know of, but it's become well known on that block that his people are working pretty actively inside the building. A few weeks ago, the windows were uncovered and you could tell work was going on. Since then, the windows have been covered up again.

What I'm hearing is that there are still some legal issues to be ironed out with the partners that previously owned the building. Perhaps Gilbert and Co. don't want to make a public announcement until all the i's are dotted.

**swingline** · March-25-13, 02:33 PM

Surprised that the Vinton Building saga never got added to the indictment as another victim of the Kilpatrick Enterprise. A restoration looked promising several years ago with a public/private financed luxury condo re-use project. Then, the new ownership group was "persuaded" to include Ferguson Enterprises, Inc. on the construction team and newly discovered "extra" costs and vandalization losses quickly sunk the project. Ferguson Enterprises got paid though. One wonders if a tax lien buyer/speculator hasn't also gummed up the works over the past few years. Hopefully, Mr. Gilbert's money can resolve all the title and lien issues and the lights will go back on.

**cramerro** · March-25-13, 03:26 PM

The windows newly have the 'dance club' shilouettes on them, similar to a number of other buildings that I think he owns farther up Webward. I also was surprised to see Merchant's Row listed as Bedrock, they must just be the leasing/management agency [[maybe just for the retail?).

One totally blanket statement I have been reminded of every time I walk around at lunch is, "Gilbert's people smoke... ALOT." There are always at least 50 people outside the back door of the Chase Building [[they installed warming lamps that are on all the time)... and to confirm my assumption, there is now a bank of at least 20 smokers outside the One Woodward Building, tucked into one of the inward-coves in the giant zigzagging glass wall, whereas up to and including the week Gilbert finished renovations and started moving Rock employees in, I had never seen anyone smoking outside that building.

**mikeg19** · March-25-13, 04:00 PM

My fiance's sister works for Quicken, and the stress that she is under at that company, I'm surprised she isn't out back doing crack.

**Gannon** · March-25-13, 08:31 PM

Yeah, the new One Woodward smokers have a few pigs among them, too. I've caught a few tossing their butts onto the sidewalk.

I've heard the herd also cannot figure how to use the elevators, too...there is always someone jumping on and some back off just before the doors close, forcing the safety to pause another few moments before closing...which often causes yet another dimwit to jump off...causing the safety to pause another few moments before closing...

...and this set off a young woman from one of the veteran floors today...

...when someone jumped off JUST after the lobby guard gave them explicit instructions on how to use the elevator. So, I deduce that Dan Gilbert is not hiring on IQ alone, if at all. I suspect that once this gets around, the veterans will start traveling in packs...and then we'll see trouble in this building.

Somethings gotta break, or someone's gotta learn. Or both.

On another front, the parking department is getting more aggressive stirring up those who clog up the NO STANDING zones. One of those white fuckers probably got a ticket for me, but I wasn't standing enough for them to place it!

**AGinthe313** · March-26-13, 08:07 AM

Crain's is reporting that Gilbert will be making an announcement this Thursday, regarding his retail plan. I wonder if the Vinton purchase will be part of that announcement?

http://www.crainsdetroit.com/article...es-to-thursday

**Zug** · March-26-13, 11:46 AM

This gets me excited.

**DetroitPlanner** · March-26-13, 01:41 PM

Boss just heard this was a done deal.

**cramerro** · March-26-13, 01:53 PM

Originally Posted by Gannon

Yeah, the new One Woodward smokers have a few pigs among them, too. I've caught a few tossing their butts onto the sidewalk...

On another front, the parking department is getting more aggressive stirring up those who clog up the NO STANDING zones. One of those white fuckers probably got a ticket for me, but I wasn't standing enough for them to place it!

FWIW, I noticed the other day when I was coming out of One Woodward with my pita that five or six of the typical crowd of cars that park wherever they want on Griswold [[with the "OFFICIAL BIZNE$$" laminated sheets in thier windows) had orange "VIOLATION" stickers on the windows. I took a peek, they said "You are in violation. Your license plate information has been recorded" No ticket tho... go figure.

**Spartan** · March-26-13, 02:01 PM

official

http://www.crainsdetroit.com/article...oodward-avenue

**401don** · March-26-13, 02:08 PM

Interesting choice of City Theater for Gilbert's Thursday presentation.

**AGinthe313** · March-26-13, 02:19 PM

Here is the page that was on their website for a few hours yesterday morning. I took a screen shot when it was up, becuase I figured it would get pulled [[and it did).

**dmike76** · March-26-13, 02:32 PM

Is anyone else getting a little bit anxious about how much Gilbert owns now? Don't get me wrong, I love all of the development, but what if something happens to Quicken/Bedrock? If Gilbert or his company gets taken down by illegal activity or a catastrophic economic scenario, all of this could be dead in one fell swoop, couldn't it? Seems like a lot of eggs in one basket, like the auto industry.

**Eber Brock Ward** · March-26-13, 02:48 PM

Originally Posted by dmike76

Is anyone else getting a little bit anxious about how much Gilbert owns now? Don't get me wrong, I love all of the development, but what if something happens to Quicken/Bedrock? If Gilbert or his company gets taken down by illegal activity or a catastrophic economic scenario, all of this could be dead in one fell swoop, couldn't it? Seems like a lot of eggs in one basket, like the auto industry.

I saw a chart the other day that put this in perspective.

- Gilbert owns something like 2.9 million square feet of space.
- The Ren Cen alone is something like 5.5 million square feet of space.

He's got a long way to go to be the #1 property owner in Detroit.

**bailey** · March-26-13, 03:09 PM

Originally Posted by Eber Brock Ward

I saw a chart the other day that put this in perspective.

- Gilbert owns something like 2.9 million square feet of space.
- The Ren Cen alone is something like 5.5 million square feet of space.

He's got a long way to go to be the #1 property owner in Detroit.

I agree with you...would it affect reality that much, no. However, in the unlikely scenario something negative takes Gilbert out of the picture, it would be a tremendous blow to the forward momentum. Couple that with Illitch's death any day now. [[I mean he's at that age) and it could get very dark around here.

**southen** · March-26-13, 03:20 PM

Originally Posted by bailey

I agree with you...would it affect reality that much, no. However, in the unlikely scenario something negative takes Gilbert out of the picture, it would be a tremendous blow to the forward momentum. Couple that with Illitch's death any day now. [[I mean he's at that age) and it could get very dark around here.

gilbert was smart enough to avoid all of the subprime lending that sunk many of his competitors. given how cheap hes getting everything and his business acumen i think he's going to be around making a difference for a long time.

**old guy** · March-26-13, 03:44 PM

I have some friends whose son graduated from a great university last year. He got 3 job offers and one was in Detroit working for Quicken. He visited Detroit, really liked it, took the job and moved there. He didn't take a vehicle, has an apartment near the office and spends his spare time walking around the area to socialize, go to restaurants etc. He's been there for about 8 months and from what I hear he enjoys living there and has no plans to leave. It's only one person, but he feels like he's part of a community with the people he's met.

He's definitely not low IQ. On the other hand, he is reasonably fresh out of college and I started wondering if he's one of these thugs involved with elevator shenanigans.

I understand that certain actions can be irritating but lately I can't figure out what wouldn't irritate a large portion of the people on this forum. I also understand that the people of Detroit would like to see it come back in a way that creates a solid, non corrupt, diversified and safe city. But the criticisms of every last person, design concept or business plan is staggering.
Sorry, I'm not there and I probably don't understand the mood of the city. It just seems that if everyone in Detroit is as critical as it appears here, it might take a bit longer for a recovery.

**Gannon** · March-27-13, 04:49 AM

Don't get yer pants in a bunch, we're merely providing the balanced view against the media and corporate-government's worshipping of the fellow.

Does your friend's son smoke tobacco yet?! I've heard that is one byproduct of working at Quicken. If he knows how to wait for elevator doors to close, he's probably not amongst the knuckleheads.

**Gannon** · March-27-13, 04:52 AM

Originally Posted by southen

gilbert was smart enough to avoid all of the subprime lending that sunk many of his competitors. given how cheap hes getting everything and his business acumen i think he's going to be around making a difference for a long time.

Unless something happens which lowers the valuation of ALL properties, something that is never, ever considered in any banking and insurance and mortgage growth potentials. There was rampant deflation of everything around real estate in 2008, and it can happen again in this world climate.

**Zacha341** · March-27-13, 06:27 AM

ROTFL! I've heard about the 'whip-cracking' fast-pace style as is often touted in such jop posting description of such places. Depending on what your doing for Quicken 11-12 hour days are the norm expectation!

Originally Posted by Gannon

Does your friend's son smoke tobacco yet?! I've heard that is one byproduct of working at Quicken. If he knows how to wait for elevator doors to close, he's probably not amongst the knuckleheads.

**AGinthe313** · March-27-13, 07:24 AM

Originally Posted by Zacha341

ROTFL! I've heard about the 'whip-cracking' fast-pace style as is often touted in such jop posting description of such places. Depending on what your doing for Quicken 11-12 hour days are the norm expectation!

I put in those kind of hours at Ford [[usually 7am-6pm). My friend does the same at EY, and another at DTE. It might be more of a norm than you think