What Ilitch is sitting on

[Lorax]

Correct me if I'm wrong, but is there really enough room south of 75 to support a new arena and the attendant parking? Assuming the Grand Circus Park frontage is one day filled in with buildings matching the park wall of buildings currently there?

I could see it if the UA and the Michigan were removed, and possibly the GAR, but the parcels seem too disjointed to really be of much use except for parking or "future development."

Just an armchair point of view here, but I still think the Wooward frontage is key, as it has made Comerica Park much more visible and easily identifiable, whereas Ford Field is largely unseen and to my thinking is sort of there just looming in the background.

This is what I believe would happen with a new Olympia sited south of 75. There is no way to really keep an open sweep of sight lines, and may have an underwhelming impact when tucked into a largely disjointed, isolated area.

Building it where the old Motown/Donovan building was, as I mentioned in my previous post, set back on this monstrous piece of vacant property would tie it in to Cass Park, give it a sweeping presence on Woodward, and give people a reason to cross over 75 if there are attendant restaurants and shops as part of the deal. Parking could easily be integrated, and as I mentioned, converting old Cass Tech into a parking structure, preserving the best part of the building, it's exterior.

Just a few thoughts.

[esp1986]

Well first off, Ilitch does not own the land where the Donovan building used to sit, as of last time I heard. Second, Parking was an issue when Comerica and Ford Field both first opened, since then, it has been fine. A large parking structure would be built bordering the freeway to support the arena. The arena, as the old Olympia did, could very well face Grand River, next to the GAR.

It is no coincidence that, prior to the economy collapsing, the Ilitches were planning on renovating the Detroit Life Building, tearing down the Adams Theatre and the Fine Arts Building, saving the facade.

They were planning on announcing the new arena rather soon, but now the economy has put a damper on things, and the Fine Arts Facade hangs in the balance, and had they made their announcement by now, the Fine Arts Facade may not face the uncertain future that it now does, as they were expecting some interest in developing behind the facade, but without a certain arena, there is no interest.

The Ilitches are also thought to be cleaning up the United Artists Theatre, possibly preparing it for a renovation. Ilitch would have to own land north of I-75 for that to be a reality, and while he may own some, he is far more concerned with the area immediately neighboring Foxtown. I thought it was crazy too, but after I had seen some drawings of what it could be like with a 'New Olympia' off of Grand River or Adams, I was no longer skeptical.

All of the signs point to the arena being in the GCP area, whether off of Grand River or off of Adams, we will see what happens.

[Lorax]

If the Ilitches don't own the property north of 75, how much could it possibly cost? Assembling parcels in Detroit, especially for a billionaire is the least of his problems I would think.

Does anyone really think there isn't a single vacant parcel of land in Detroit that cannot be bought?

You mention placing the stadium next to the GAR- I still don't see how it's a good fit- perhaps hockey stadiums are smaller than I thought. And I don't think the Ilitches own the GAR- not yet anyway!

This is all interesting speculation, but speculation at best. Until they decide to announce, it's all hypothetical.

I still think the Masonic Temple must play into this somehow- why else would the Ilitches care to take on this monster? Unless it's to control the stage there, and keep it from competing with the Fox.

[detourdetroit]

lorax, you answered both of your own questions in terms of arena size and ilitch intent.

[3WC]

Lorax, you may be correct that Ilitch is buying land west of the Fox in order to pick up cheap land close to his other businesses. Who knows what they have in mind? Keep in mind, however, that Ilitch paid $1.6 million last year for a .17 acre piece with a tear-down building on it, adding to the cost. That's $236 a sq ft [[I don't have my calculator handy) , the highest price for land in downtown, ever, that I've heard of.

[buildingsofdetroit]

You mention placing the stadium next to the GAR- I still don't see how it's a good fit- perhaps hockey stadiums are smaller than I thought. And I don't think the Ilitches own the GAR- not yet anyway!

Ilitch lost his option on the GAR. It's now being pursued by Mindfield USA for its headquarters. Details at: http://www.buildingsofdetroit.com/places/gar

[Lorax]

Wow! Great news about the GAR. It deserves a full renovation.

As far as the Ilitches, don't forget, even at the price he paid for that parcel, what's Ilitch's net worth?

1.5 BILLION dollars. That's 1,500 million bucks. He's #242 on Forbes Magazine list of the 400 wealthiest Americans.

There is nothing he cannot afford to buy or restore in Detroit. And he has the werewithal to borrow what he needs to do it, never touching his own money.

The UA could be restored at the stroke of a pen top to bottom, and it wouldn't dent his net worth.

What I think is lost on many is as much as we love to think of our sports team owners as "one of us" in reality their wealth separates them to such a degree, and I'm not intending this as a slam, but we need to keep perspective here.

I admire anyone who can build such an empire, and largely it has been a good thing for Detroit and Michigan. But realize he can build Olympia anywhere he wants to, and can afford to do it, even if he occasionally overpays for a parcel here and there.