$4.7M HQ for the Pension Board?

[EastsideAl]

One would hope that there would be some opposition to this at the planning board meeting. seeing as this is a rezoning, it's probably going to have to come before the City Council as well for approval. That's 2 opportunities to make some noise. Where's BAMN and the Unions at on this one? You would think that this would be just as if not more important than their latest dustup.

Certainly the Indian Village Association and other neighborhood groups in the area are strongly opposed to this and have objected to it all the way.

[Stosh]

Certainly the Indian Village Association and other neighborhood groups in the area are strongly opposed to this and have objected to it all the way.

I think that this would take more people than those to make a difference in the matter. Broadbased outrage would be a better option. A letter writing campaign to the Council opposing the construction on the basis of it's absurdity considering the losses and bad decisions of the Pension board. would be appropriate. The Planning meeting on the 17th should be concentrated on the inappropriateness of the rezoning.

[MIRepublic]

From a Freep article, today:

Stampor said the funds have spent six years trying to purchase a building with 25,000 to 30,000 square feet for its 60 employees, who now work in the Coleman A. Young Municipal Center on Woodward. They didn't want to use a building they own on Adams Avenue because it wasn't the right size, he said.

Does anyone know what building on Adams they are talking about. This whole thing sounds like a lot of BS, to me.

[crawford]

My guess is that a few top employees live in the Pointes, and so this is convenient for them.

Company locational decisions are usually guided by the residences of the executives.

There's a reason Chrysler chose Auburn Hills. It's 10 minutes from Bloomfield Hills.

[Gannon]

MY guess is that a few top employees live in the Pointes, and they've always been jealous of their neighbor's river views...

[Hypestyles]

curious... the Free press Sunday 8/23, has an extensive article about new goings on..

[Mackinaw]

This is an awful idea. Write the planning commission.

This outfit needs standard downtown high-rise office space...not a riverfront campus. Absurd.

[Spaulding]

The Pension funds owns 28 West Adams, next to the Kales Building, according to CoStar Data there is about 200,000 vacant sf in that building.

The Phone number to the city planning commission is 224.6225
address

City Planning Commision
Attn: Rezoning 7850 East Jefferson
Coleman A Young Municipal Center
2 Wordward Avene, suite 202
Detroit, MI 48226
email: cc-cpc@ci.detroit.mi.us

[Doug Dannon]

Nobody seems to mention that the pension funds own 10% [[roughly $20 million) of the Comerica Tower. That building is, right now, a horrible investment since the building is about 2/3rd of the way leased-up. Why wouldn't they move into the building that they own a share of? That makes a lot more sense than building some Riverfront paradise.

[Spaulding]

Sign the petition that is going around if you do not like the idea

http://www.petitiononline.com/7850jeff/

[Detroitnerd]

Why not move into the building they own? You don't understand. These aren't your public servants. They're entitled to take your money, your Detroit tax money, and do whatever they want with it.

It works like this. They're more important than us mere mortals. Some scumbag businessman wants to make money? He knows that if he flies them on a junket, they'll consider paying for it with a public investment of your money. But it's really for the best.

Now, why would you ask them to move into a building they own? Even though they own a share or all of several buildings? No. They are there to fritter away money so they may live well. That's why they deserve to build [[with your money) a new headquarters on the river. They deserve the best. So what if the RiverWalk people intended it the park to attract upscale residential? They are like gods on Earth, and we must allow them to build a new building and lots and lots of wonderful parking! The pension board has spoken.

[MIRepublic]

The Pension funds owns 28 West Adams, next to the Kales Building, according to CoStar Data there is about 200,000 vacant sf in that building.

The Phone number to the city planning commission is 224.6225
address

City Planning Commision
Attn: Rezoning 7850 East Jefferson
Coleman A Young Municipal Center
2 Wordward Avene, suite 202
Detroit, MI 48226
email: cc-cpc@ci.detroit.mi.us

28 West Adams is the Grand Park Centre [[former Michigan Mutual Building) and was just renovated extensively earlier in the decade. It'd be absolutely perfect for them. 28 West Adams is also home of the Wayne County Employees' Retirement System. That they own the building and it's already home to another public retirement system gets me wondering why moving here wouldn't be a given.

[raptor56]

What's wrong with their current space in the CAY Building? Why do that many people work for a pension fund?

[MIRepublic]

What's wrong with their current space in the CAY Building? Why do that many people work for a pension fund?

I posted this in the other thread on this issue, but here it is, again:

Stampor said the department has grown as the complexity of pension benefits has deepened and as the ranks of city retirees have swelled.

“Every time we've tried to do any type of expansion, we're at the discretion of the [[Detroit-Wayne Joint) Building Authority,” he said. “Right now, there's no way to expand unless we move to a different floor.”

In other words, there is nothing wrong with their current space in the City-County Building. You know, god forbid they'd have to request access to another floor, right? I mean, a floor, any floor; my kingdom for a floor. Now, excuse me as I play the world's smallest violin for the city pension board. lol

[heedus]

Nobody seems to mention that the pension funds own 10% [[roughly $20 million) of the Comerica Tower. That building is, right now, a horrible investment since the building is about 2/3rd of the way leased-up. Why wouldn't they move into the building that they own a share of? That makes a lot more sense than building some Riverfront paradise.

Yea, I thought Dan Duggan's blog entry in Crain's suggesting the same did a good job of not only calling these idiots out but also suggesting a very attractive alternative. The only issue that I see with Comerica Tower is that the parking situation would be the same as it is with the CAY building. That parking garage attached to Comerica Tower is a complete rip off. They charge $17 for two hours of parking.

Hmmm...Doug Dannon suggesting the same thing as Dan Duggan. Weird.

[royce]

What time does the zoning commission meet on September 17, 2009? Is anybody here going?

[Spaulding]

The CPC is not going to decided on the 7850 East Jefferson on Thursday instead they are are holding a Public Community Meeting on Friday Sept 18th at 6pm in the large meeting room of Iroquois Avenue Christ Lutheran Church at 2411 Iroquois Avenue in Indian Village. Many people are expected to attend.

[royce]

Thanks for the update, Spaulding.

[Spaulding]

The following are copied email comments from a community meeting that the CPC held in the Villages on Friday 9/18/09. The meeting allowed the community to ask questions about the rezoning of 7850 East Jefferson. From what I heard there was a large community attendance, and that the community was 100% against the project with the exception of the chair of the General Pension Fund board, her husband and the 9 seniors bused in by the Royal Oak based real estate developer who stands to make quite a profit from the development.

Note: Ms Kneeshaw is the Chair of Board of the City of Detroit General Pension Funds

"Ms. Kneeshaw also made the telling admission that the Police and Fire Pension Board bought this land not for the present project, but as an investment. According to Ms. Kneeshaw, only later did the two boards turn to this parcel as the site of the new offices.

Ms. Kneeshaw can't have it both ways. If it was bought for investment and it was a good investment, then it won't lay vacant if this rezoning is denied. Otherwise, Ms Kneeshaw is telling us that the Police and Fire pension board made a bad investment [[not the first time) or, perhaps, that if they don't get their way, they'll go into a hissy fit and refuse to develop just to SHOW those people. Which, of course, would be a violation of their fiduciary responsibility to the employees and retirees whose money they are spending. I invite clarification.

I would note that in her recounting of other sites considered, Ms. Kneeshaw understandably omitted the pension boards' attempt to buy a city park for their office site. "

"I remain convinced that the heavily promoted possibility of a residential building at the river end of 7850 is what I said at the meeting: a straw man designed to quiet those who advocate residential use and gain support for the project. The plot is too small for any significant development even if the parking problem could be resolved. The idea put forth that the inadequate space for parking could be dealt with by alternative use – the pension staff using the spaces during the day while the apartment residents are at work– is patently ridiculous. I'm retired. If I lived there, would I have to move my car out the lot during the day? What about residents on evenings or afternoons? What about overtime or weekends for pension staff [[I know, most of you think that's irrelevant.. .) The idea of dual-use of the already limited parking is so stupid that I am insulted that they thought we were dumb enough to take it seriously. "

[Detroitnerd]

Sounds like their investment picks are about as intelligence as their development pitches.

[slick]

Just recevied my copy of the General Retirement System
newsletter, "Pension Perspectives".

According to the letter on the front page signed by Sheila W Kneeshaw, Chair,
they have reinitated the newsletter.
I do not remember receiving one before this and I have been retired from the city for 3 years.

On page 4 the article is headlined,
RSD to build new headquarters on Jefferson Avenue.
It lists all the benefits that we can expect. Nothing new, just retoric, no dates are mentioned.
Is it still awaiting the approval process from the zoning commission?

Hopefully it is still a concept because it says the intent is to build.
I am off to author my letter to the board protesting the new building.

[MichMatters]

From what I'd heard, this is effectively dead after Islandview and the surrounding area put up a united front against it, thank god.

If I remember correctly, the city planning commission recommended denying the rezoning. A city council committee [[planning, consisting of Collins and Reeves; yes, really) approved the rezoning, anyway, sending the rezoning before the full council. The full council essentially killed it by sending it back to the committee in late November [[i.e. meaning it wouldn't come back up until the new council is seated). I can't imagine the new council even allowing this thing back out of committee.

[slick]

Michmatters,

Thank you for the update.
Just wishful thinking on the Boards part. So the newsletter was printed before the final ruling, maybe.
Still going to send my protest letter.

[Mackinaw]

Absolutely, you should still write your leadership, and tell your friends to do the same. If they have money to invest, such investment should be done responsibly with a focus on what is best for the city. That would call for renting some of the ample available downtown office space.