Bedrock to Redevelop Old Police HQ

**leland_palmer** · February-08-18, 10:32 AM

I'm glad the building is going to be saved.

"Dan Gilbert’s Bedrock just announced that they plan to acquire and redevelopment 1300 Beaubien, the former Detroit Police Department Headquarters located in Greektown. This Albert Kahn-designed building sits just a couple blocks away from the fail jail site, which Bedrock is expected to redevelop after a deal is made with the county and city."

https://detroit.curbed.com/2018/2/8/16990600/dan-gilbert-former-detroit-police-dept-hq-greektown-redeveloped

**Shai_Hulud** · February-08-18, 11:04 AM

Excellent news. I know the deal changed several times but I am hoping that he still gains ownership of all the current facilities.

Concerns about ownership concentration aside, from the Monroe development at Campus Martius to the fail jail is a huge wedge of downtown that we know will get activated.

**leland_palmer** · February-08-18, 11:28 AM

Done Deal!

"The former Detroit Police Department headquarters in Greektown is slated for redevelopment under an agreement struck between Dan Gilbert's Bedrock LLC and a key holdout creditor during Detroit's Chapter 9 municipal bankruptcy case."

"Terms of the deal struck between Bedrock and Pike Pointe Holdings LLC, a subsidiary of Bermuda-based Syncora Guarantee Inc., were not disclosed. Peter VanDyke, a Syncora spokesman, said both Bedrock and Syncora "have an ownership interest in the entity that owns the property," but declined to elaborate. He said Bedrock was chosen "from several interested developers" of the property."

http://www.crainsdetroit.com/article...former-detroit

**DeLemur** · February-08-18, 02:42 PM

Originally Posted by Shai_Hulud

Excellent news. I know the deal changed several times but I am hoping that he still gains ownership of all the current facilities.

Concerns about ownership concentration aside, from the Monroe development at Campus Martius to the fail jail is a huge wedge of downtown that we know will get activated.

I'm concerned about ownership concentration. At what point does Dan Gilbert have a monopoly on downtown office real estate and is able to muscle serious rates?

His investments thus far are good but this level of power in one market is worrisome.

**ct_alum** · February-08-18, 02:50 PM

What? It's not being torn down for a parking lot? Oops - I didn't see that Illitch wasn't the buyer.

**Hypestyles** · February-08-18, 02:51 PM

so what are the ideas for redevelopment going to be? business offices? Apartments, condos, retail/restaurants on the first floor?

**leland_palmer** · February-08-18, 03:27 PM

Originally Posted by DeLemur

I'm concerned about ownership concentration. At what point does Dan Gilbert have a monopoly on downtown office real estate and is able to muscle serious rates?

His investments thus far are good but this level of power in one market is worrisome.

I'm under the impression that Syncora Guarantee Inc. owns the property and Bedrock is going to develop it?

**401don** · February-08-18, 04:31 PM

Originally Posted by leland_palmer

I'm under the impression that Syncora Guarantee Inc. owns the property and Bedrock is going to develop it?

Article stated Gilbert will take a minority ownership stake. As far as Gilbert's ownership concentration, we've had this discussion before. Every building that is renovated is better off than it was before. Also, it's not likeGilbert will ever be able to charge more than the market demands. It's not like companies can't move back to the burbs or even build themselves if they feel they are getting gouged when renewal time comes around.

**Richard** · February-08-18, 04:49 PM

COD transfers property to an untraceable company in the Bahamas?

https://investorshub.advfn.com/board...e_id=121419778

**Zads07** · February-08-18, 05:25 PM

Very excited to see this building redeveloped. This building means a lot to my family but even more to my grandmother, who spent some time during her 30 years on the force in that building.

**southen** · February-08-18, 06:49 PM

When the first MLS renderings came out this building was torn down and replaced with a modern office tower. It is nice to see that Gilbert took that backlash and recognized that this building has value and will be included in the future of that area. That is what responsible developers do.

**MikeyinBrooklyn** · February-09-18, 01:32 AM

When growing up and my Mom worked in the courts downtown, we took the odd trip here to pick up or drop off documents. I remember being so in awe of it, and that it was incredibly dirty. I'm glad it will be saved.

**Meddle** · February-09-18, 08:03 AM

Whatever they do, I feel part of it should be a public access museum. There's an awful lot of history there. Some of it awful.

**stasu1213** · February-09-18, 10:45 AM

I wonder what it would be transformed into

**hybridy** · February-09-18, 11:39 AM

I wonder how deteriorated the interiors are now? there was significant water damage 4 years back...i doubt its been abated since then.

http://motorcitymuckraker.com/2014/0...-headquarters/

**slick** · March-08-18, 10:32 AM

I saw this on another forum

Recent word that Dan Gilbert/Bedrock acquired 1300 Beaubien is now upgraded to include a deal today acquiring in addition to the "failed jail site," the existing Wayne County Jail facilities, Frank Murphy, the Juvenile Detention Facility, the old Sheriff's admin building and adjacent garages.
The "whole shooting match"...all of the property east of Beaubien and south of Gratiot, all the way to I-375.
Hopefully the historic Police Headquarters will not be demolished with the rest of those buildings.
Quite a coup for Gilbert as he consolidates around his casino!