Any new development in the Book Building renovation saga?

**David L** · May-22-13, 12:15 PM

This was set to go almost four years ago. What happened?

**Spartan** · May-22-13, 12:17 PM

It's as boarded up as ever

**Danny** · May-22-13, 12:45 PM

Let Dan Gilbert buy it. He'll make it into his "OPPORTUNITY DETROIT" ventures.

**cramerro** · May-22-13, 01:57 PM

They added scaffolding/pedestrian protection on both street fronts sometime in the past 6 months I'd say... got me thinking the same question but nothing has happened since.

**David L** · May-22-13, 09:25 PM

This building is a jewel. Totally over the top and still with it's cornice! And what a cornice that is. Unlike any other existing architecture in Detroit.
There needs to be a "Friends of the Book Building" and you can start with me.

**esp1986** · May-23-13, 07:42 AM

About six months ago, I recall, the company bought the adjacent two story building to the south... that's when the scaffolding went up. I remember a news story about it. It was amid a flurry of Gilbert purchases, that [[I think it was) Channel 4 reported they were in the process of assembling financing for the project...

**hybridy** · May-23-13, 08:33 AM

my unidentified source says it's in production [[drawings in an office) and will happen after capitol park projects are complete. i have no word on financing, but based on the time it took to get the david whitney financed we'll be waiting awhile.

**corktownyuppie** · May-23-13, 09:25 AM

Originally Posted by hybridy

my unidentified source says it's in production [[drawings in an office) and will happen after capitol park projects are complete. i have no word on financing, but based on the time it took to get the david whitney financed we'll be waiting awhile.

This is actually a promising sign. Of course, no shovels will hit the ground until the money is there. But this demonstrates both concrete interest [[someone willing to spend $100,000 or so in due diligence costs, architectural plans, etc.) and progress in helping quantify how much it would take to make the project happen.

The one thing Downtown has in its favor right now is a growing interest in people looking to move downtown as well as a scarcity of available space. But this is one of those projects that probably can't happen until rents are $2.00 psf, and we have a long way to go.

**Pcm** · May-23-13, 02:41 PM

Why is everything so secret? Your unidentified source? What's the point.

**Eber Brock Ward** · May-23-13, 02:47 PM

Originally Posted by Pcm

Why is everything so secret? Your unidentified source? What's the point.

Could be that the CIA is rehabbing the building

**stasu1213** · May-24-13, 07:16 AM

Dan Gilbert is the only person who had bought buildings and immediately started renovating them. Others had purchased building but let the buildings sit for years before doing anything to them. I wish that more developers have the capital and pioneer thinking that Gilbert has. The guy who had purchased Lafayette Towers would had came close but as I was told nothing had been done to Lafayette Towers yet but the repair of a few broken water lines that causes leakage in the lobby

**hybridy** · May-24-13, 08:22 AM

Originally Posted by Pcm

Why is everything so secret? Your unidentified source? What's the point.

because confidentiality agreements have been signed between said firm and said developer. often times contracts are not inked and architecture firms proceed with work in good faith assuming contract to follow, assuming all the financing becomes approved. these things aren't publicized because sometimes they fall apart before they get off the ground. no one wants to look flakey. it's as simple as that my friend.