Book Tower Lit Up- Renovations Starting Soon???

[mikeg19]

Per Detroit News, Book Tower is now lit up top. Has anyone noticed any new work crews going into the building lately or assessing?

Probably my favorite building in Detroit, even though it's a convoluted architectural mess. I can't wait for this thing to get a good power wash and see it lit up again.

http://www.detroitnews.com/story/new...roof/75199096/

[Dbest]

Nice.

I wonder whatever happened to the plan to re-illuminate the top of The Broderick?

[stinkytofu]

Stott was also lit up last night. I intentionally went and looked - both looked great. It was really cool.

[Infrastructure]

I would love to see the columns just below the roof line lit with up-lighting.

One of the things I love about the Book Tower is that it reminds me of a lighthouse, sort of marking the western end of downtown. Lighting the columns up would really create a sort of beacon in the night sky.

[DetBill]

Yes, !​ In looking out from our 1300 highrise at the skyline, I noticed a great addition. It appears, once again, that the tops of the Stott. AND the sadly vacant Book Tower have been illuminated. I believe Gilbert and company have acquired these buildings and have plans for redevelopment. I really like the way this guy thinks. Light up these towers to start, add to the expanding night skyline, get the juices going and start developing. Excellent mindset..

[DetBill]

I would love to see the columns just below the roof line lit with up-lighting.

One of the things I love about the Book Tower is that it reminds me of a lighthouse, sort of marking the western end of downtown. Lighting the columns up would really create a sort of beacon in the night sky.

Infrastructure, you are dead on with your suggestion.
why dont you , and anyone else inclined, go to Bedrocks website , under contact them, and suggest, I certainly will. They do read and respond , ive had occasion before. If enough of us plant the idea, they just might, it would be an incredible sight with that architecture light on the night skyline.

[southen]

I have no doubt that that is already in the works. The top of that building is in need of a good cleaning and im sure they want to do that before installing any lighting.

[401don]

"Open house for the soon-to-be-completed penthouse next weekend. Until elevators and stairs are inspected visitors are asked to use the fire escape."

[Bucket]

View of the Book Tower from State and Griswold on Wednesday night:

David Stott:

[Shai_Hulud]

I noticed this last night. It made a big difference.

[1953]

About two weeks ago, I saw Bedrock employees on the roof of the lower building at Washington and State installing cameras.

[Mind field]

Fantastic pics Bucket! It's great that these two towers are a contributing part of the night skyline once more. Just from what Bedrock has done with their other Detroit properties, i can't imagine them skimping on the exterior lighting of the Book Tower.

[scene]

Took a picture from the Z Lot deck a couple of months apart. The lights really do make a difference.

[DetroiterOnTheWestCoast]

WOO HOO! http://detroit.curbed.com/2016/3/10/...on-dan-gilbert

Work is starting! What a change this could have for Washington. Blvd.

[Junjie]

This is so huge for downtown. Can't wait to see how it comes out.

I want to see that same picture in scene's post when the Book and the Stott get lit up with occupied apartments and the Hudson project gets underway.

[Infrastructure]

Crews were working all day to clean the facade of the book building portion. A similar effort was started years ago, but never finished.

[Hypestyles]

what will the building be converted into? Apartments? Offices?

[mikeg19]

what will the building be converted into? Apartments? Offices?

Housing and offices on the upper floors with retail ground floor. Obviously that was the original plan and subject to change, but that was Bedrock's comments when they purchased it.

[dtowncitylover]

Happy to see Washington Blvd. closer to it's original beauty. It would be nice to see some shops open on this street. Perhaps Shinola can re-open their Willys store down here...?

[southen]

Happy to see Washington Blvd. closer to it's original beauty. It would be nice to see some shops open on this street. Perhaps Shinola can re-open their Willys store down here...?

I'd like to see that with another smaller satellite Shinola store right next door. My guess is that they would choose Woodward over Washington Boulevard though.

[stasu1213]

Art Van would be a perfect fit for Merchants Row since Restoration Hardware isnt going to ppen a store downtown. I would love to see a Vitashoppe on merchants row as well. I discovered in my reminiscing of Downtown Detroit is that most of the retail were local with the exception of Crowleys Kerns and a few others. The local retail then did catered to varieties of tastes, desires and needs.

[MSUguy]

what will the building be converted into? Apartments? Offices?

We don't know yet. They haven't said what the exact mix of uses they plan on having in the building.

In addition to the bath, I noticed they have put new windows in the storefronts.

[DetroiterOnTheWestCoast]

We don't know yet. They haven't said what the exact mix of uses they plan on having in the building.

In addition to the bath, I noticed they have put new windows in the storefronts.

The "bath" and new storefront windows are nice - noticeable improvements from the start!

[brizee]

I might question how Gilbert attains ownership when so many bitch about "red tape".

And so much property in close proximity being in one entity's hands isn't ideal.

But I'll be damned if I'm not impressed by how fast the man moves on his properties.

There's no speculation, no endless press conferences, no promises then squat. He announces his intentions and usually in less than a year you see activity.

He's got this this and two other projects on Washington/Capitol Park going at the same time.

Meanwhile the people that bought the six story CPA building have let it rot for YEARS.

[corktownyuppie]

I might question how Gilbert attains ownership when so many bitch about "red tape".

I can tell you exactly how he attains ownership so quickly and why he can get projects done so fast.

CASH.

Most people, including myself, have enough cash to get a project started but not enough to finish it. So we look to other people [[either a bank or other investors) to loan us the rest of the money, with the intention of doing one of the following two things:

[[1) We finish the project. Sell the completed job to someone else. Pay off the loans, and pocket any money leftover as profits.

[[2) We finish the project. Hold the completed job and rent out the space. The rent is used to pay off the mortgage payments until it is either paid off or the property value has grown enough to try Option #1.

In both of these cases, the banks/investors are willing to lend the money as long as they have something as collateral. That's important, because if the project goes bad [[think Wayne County Fail Jail), or if the builder dies, or if people just stop paying, the bank needs to know that they can somehow get their money back.

The problem is that most banks don't want to take a construction project as collateral. Why?

- The cost of rehabbing an old building has wide variation. "Oh, it could cost somewhere between $50 million to $200 million" is not something that bank wants to hear.

- The value of a completed project has wide variation, "Oh, I think it'll be worth somewhere between $300-$700 million when it's done. But who knows...no one has lived in this building in 30 years" is not something that the bank wants to hear.

You look at the wide variation in cost...and then at the wide variation in end value....most banks say, "Sorry, we can't lend you the money, because we don't have enough confidence that we can get our money back if something goes wrong.

Enter Dan Gilbert.

He walks in an says to the seller, I will pay you in cash. No loans necessary, I can have your money in 7 days if you drop your price by 10%. They say yes.

He goes to the construction company and says, I will pay you in cash. No loans necessary. I will deposit all the money in an escrow account at the end of the month if you can start 30 days. They say sure.

All the red tape that normally slows things down? Gone.

I agree that I don't like having all of these buildings with such few owners. At the same time, as long as the owner is able to "get it done", I'm less worried. And the more buildings he owns, the easier it is for banks and other investors to feel comfortable lending. "Hey, if this project goes bad, then at least we can foreclose and then sell it to Gilbert to get our money back".

Voila. Downtown finally coming along.

The neighborhoods will soon follow...we're already seeing it happen down the between Jefferson and Mack from downtown all the way to the Pointes. It's gonna take another 10-20 years, but I foresee that entire area looking pretty good by then.