Gilbert making moves on the river

[hybridy]

Gilbert buys Stroh site next to Valade park on Detroit riverfront

Billionaire Dan Gilbert's real estate company has added 4.32 acres of Detroit riverfront land next to the Detroit Riverfront Conservancy's Robert C. Valade Park to its portfolio.

Deeds to the sale of the property, largely surface parking, at Atwater and Joseph Campau streets were recorded last month listing Gilbert affiliate Riverfront Acquisitions LLC as the buyer and members of the Stroh family as the seller.

Crain's estimates the purchase price at $7.15 million based on real estate transfer taxes paid, or roughly $1.66 million per acre.

he had negotiations with General Motors Co. on development of at least 10 acres of surface parking east of the RenCen, although those discussions have produced nothing tangible. He and the automaker also discussed a purchase of the RenCen, which also did not materialize.

In addition, Gilbert had been working on a deal for the 43-acre former Uniroyal Tire Co. factory site across from Belle Isle, but those negotiations fizzled at some point in the last couple years, Bridge Detroit reported in September 2020.

This is in addition to previous buys.
https://www.dbusiness.com/daily-news...the-stroh-cos/

Parcel graphic:

[Satiricalivory]

That lot on the river is perfect for some residential with retail.

[Danny]

And Gilberttown grows by annexing of piece the Detroit Riverfront. You all know does this means?

[Gistok]

Wow... 300 River Place is the largest building at River Place... it's where the Rattlesnake Club restaurant is located. The building has a huge atrium.

I wonder if Gilbert might eventually buy up all of River Place. If he does, I can see future expansion galore...

[EGrant]

The area around Atwater Brewery has a ton of potential. Excited to see what comes next here.

[royce]

Gilbert buys Stroh site next to Valade park on Detroit riverfront






This is in addition to previous buys.
https://www.dbusiness.com/daily-news...the-stroh-cos/

Parcel graphic:

I hope Gilbert put some type of residential on the parking lot off the river. It's a crime to have that parcel as a parking lot. A parking structure off of Atwater and then residential off the river would be acceptable.

Also, I wonder who owns that structure north of St. Andrew's parking lot. A parking structure there along with St. Andrew's parking lot would be the perfect spot for a parking structure. I wonder if the owner of St. Andrew's has been approached about selling his lot. They could share the proceeds from a structure.

[KnnNike]

Watching this development with great anticipation...I bought a condo at Garden Court [[1 block north) last year, and I'm hoping new development here will really help the value pop.