Gilbert adds Cadillac Tower to his Downtown Collection

[Lowell]

The Cadillac Tower is my personal favorite downtown skyscraper, so I'm delighted to see this fading beauty will likely see restoration and repurposing. To me, it architecturally bridges the modernism with what came before it in being flat-topped but still decorative. I had a splendid view of it from my former downtown apartment.





Now one more Dan, please, save the Penobscot.

[Richard]

Detroit is becoming a corporate town,lots of eggs in one basket.

[K-slice]

Very interesting move, 2019 I would say this makes perfect sense but with the office market being what it is, I really wonder what the plans are for this tower.

Not being in the industry I can's speak of residential demand downtown but that seems like the most logical direction.

[Danny]

Dan Gilbert is indeed the Donald Trump of Detroit. If no one wants to buy prime real estate in Downtown Detroit or should I say Gilbert Town Detroit, let Dan Gilbert buy it.

If Mayor Coleman Young was alive and still mayor of Detroit today, he will cuss him out. And Gilbert will say to him. ' I'm saving Downtown Detroit to keep white folks from hitting 8 Mile Rd. You should thank me and my progress instead of running out your month!'

[401don]

I didn't notice it in any of the articles. Anyone know what the current occupancy is?

[hybridy]

Nice flip for Mr Elia. Bought for $24M in 2018. DG reportedly paid $36M. Makes sense for high end hotel/housing being so close to Campus Maritus.

At least 50k sf was available for lease:
https://thebrokerlist.com/have/cadillac-tower-15250

[Danny]

I didn't notice it in any of the articles. Anyone know what the current occupancy is?

About 16 to 18 percent.

[K-slice]

I didn't notice it in any of the articles. Anyone know what the current occupancy is?

https://www.crainsdetroit.com/voices...kyscraper-sale

Crains reported the building was 18% occupied in March 2019, I imagine that hasn't improved in the years since. That leave upwards of 34 floors total empty.

The place has been a mess since the current owner half-a##ed a renovation leaving the retail spaces completely vacant and the lobby in an unfinished state.

This would have been a tough property for anyone other than Gilbert, as he owns everything surrounding it. To occupy 40+ floor you need to have ample, reliable, parking in this town.

[JonWylie]

https://www.crainsdetroit.com/voices...kyscraper-sale

Crains reported the building was 18% occupied in March 2019, I imagine that hasn't improved in the years since. That leave upwards of 34 floors total empty.

The place has been a mess since the current owner half-a##ed a renovation leaving the retail spaces completely vacant and the lobby in an unfinished state.

This would have been a tough property for anyone other than Gilbert, as he owns everything surrounding it. To occupy 40+ floor you need to have ample, reliable, parking in this town.

And we know parking is hard to find /s

[bassab]

I understand the Cadillac Tower is empty and was told the last tenants moved out late summer. Management refused to renew leases over the last several years and forced tenants out as their leases expired. Last year this time actual occupancy was approx. 5%. The City had some additional space still under lease but with the exception of the Inspector General's office, was not using it.

[DetroiterOnTheWestCoast]

I had a splendid view of it from my former downtown apartment.

In the early 1980's I had a splended view of it from my 22nd floor office in the First National Building. Looking forward to what's in story for this beautiful building.

[Gistok]

I agree that residential would be an ideal use for the Cadillac Tower. Right across the street from it is the 20 story New Cadillac Square Apartments. I didn't really notice it much, and its' pretty tall at 20 stories, but is overshadowed by the 40 story Cadillac Tower next door...

https://en.wikipedia.org/wiki/New_Ca...are_Apartments

Here's one building that was razed in the 1970s... so sad to see this Louis Kamper Gothic confection no longer here... it really had a lot of Gothic detailing... the Cadillac Square Building... former the Real Estate Exchange Building...
https://historicdetroit.org/building...quare-building

It was razed for the same reason that the Lafayette Building came down... it was empty...
https://historicdetroit.org/gallerie...olition-photos

[Burnsie]

I just looked at a Freep 12/27/76 article, and the reasons the city gave to demolish the Cadillac Square Building were thoroughly stupid and pathetic-- that it was needed to help attract a developer to the Kern Block. And parking, of course. The city bought it in 1974 as a prospective parking garage site for almost $270,000, and spent about another $270,000 to destroy it. Meanwhile, it spent about $1 million over five years to rent space for city workers who could have fit into the Cadillac Square Building! [[It formerly housed state offices). And the city admitted that the $1 million could have paid for both interior and exterior renovation. Classic.

It was vacant for three years, at the most, before demolition.

[kuuma]

Here's one building that was razed in the 1970s... so sad to see this Louis Kamper Gothic confection no longer here... it really had a lot of Gothic detailing... the Cadillac Square Building... former the Real Estate Exchange Building...
https://historicdetroit.org/building...quare-building

this picture of the full block just gets me misty:

i can't help but wonder when i look at this, how nuts would it be to try to recreate that whole block on the Cadillac Square side? like since the rest of the Monroe Blocks project is clearly gonna get a redesign, and DG has shown this much interest in restoration, like is it really that impossible to build in a period style?

[southen]

this picture of the full block just gets me misty:

i can't help but wonder when i look at this, how nuts would it be to try to recreate that whole block on the Cadillac Square side? like since the rest of the Monroe Blocks project is clearly gonna get a redesign, and DG has shown this much interest in restoration, like is it really that impossible to build in a period style?

He won't go that route and he absolutely shouldn't. I understand the nostalgia and I am often a combination of saddened or angry at the historic structures we lost but cities are evolving things, not time capsules. The historic architecture we all appreciate was a departure from the norm at its' time. The design they have come up for Monroe Blocks really is a great one and a great use of the site. You aren't going to attract modern businesses with a faux historic building and you aren't going to attract new residents with something so artificial.

In regards to the current Monroe Blocks design im not convinced that it really changes at all. Right now they have just a small 2-4 story retail building up against Cadillac Tower and I could see that being connected in some way but the design very deliberately puts a gap between the skyscrapers to allow for light and to invite people into the interior of the block. I don't see that changing because they now own that tower as well. We more than likely will see some type of art on the side that faces Campus Martius instead of ads.

[K-slice]

And we know parking is hard to find /s

Not hard to find for the end user. But leasing a building that has room for thousands of people, and having to re-rent them all spaces from a 3rd party that could cease to be available at any time is a very tough proposition.

My point isn't there needs to be MORE parking, it's that the owner of an office or apartment building needs to also own the spots at which the tenants will park.

[DetroiterOnTheWestCoast]

this picture of the full block just gets me misty:

i can't help but wonder when i look at this, how nuts would it be to try to recreate that whole block on the Cadillac Square side? like since the rest of the Monroe Blocks project is clearly gonna get a redesign, and DG has shown this much interest in restoration, like is it really that impossible to build in a period style?

Such an interesting block there with the incredible variation in height of the buildings. I really can’t imagine how long it will still take to get anything back on the Monroe Block.

[EGrant]

My point isn't there needs to be MORE parking, it's that the owner of an office or apartment building needs to also own the spots at which the tenants will park.

And that's the reality of Metro Detroit. I'd love to see parking-free developments as much as the next casual urban planning enthusiast, but we live in a car-centric city with bare minimum mass transit options. Without parking, these projects don't get completed. I wish that wasn't the case, but until we actually invest in regional mass transit, that won't change.

[swingline]

I understand the Cadillac Tower is empty and was told the last tenants moved out late summer. Management refused to renew leases over the last several years and forced tenants out as their leases expired. Last year this time actual occupancy was approx. 5%. The City had some additional space still under lease but with the exception of the Inspector General's office, was not using it.

Mr. Elia used a similar tenant scrubbing process after his Ford Building purchase. In an apparent effort to assemble larger contiguous spaces, he either non-renewed expiring leases or sought 75% increases with no upgrades other than a polarizing redo of the lobby. Occupancy plummeted from 85% to around 30% prior to Covid. Downtown investment is appreciated but the Ford Bldg and Cadillac Tower have languished under Elia ownership. Don't understand the price paid by Bedrock but I hope the purchase improves the chances of getting the Monroe Block project built.