Madison Bldg big news

**cmubryan** · January-25-11, 07:10 AM

Look for some big news today about the redevelopment of the Madison Building in GCP!

**tkelly1986** · January-25-11, 09:22 AM

Just curious, but does this have anything to do with Quicken moving some employees in? Because if so, that was already announced a month ago.....However, I'm holding out hope they are announcing something where the parking lot stands [[former theater). Such as a parking garage or expanded office section.

**cmubryan** · January-25-11, 11:30 AM

Yes. I believe more details will be announced.

**gumby** · January-25-11, 04:15 PM

Originally Posted by cmubryan

Yes. I believe more details will be announced.

So tell us what you know. Obviously nothing has been reported today.

**bailey** · January-25-11, 04:23 PM

It's going to be torn down.

**Gistok** · January-25-11, 05:13 PM

Originally Posted by bailey

It's going to be torn down.

Bailey only believes in Barker's Law [["Murphy was an optimist")

**detroitxpert** · January-25-11, 07:37 PM

Could they add a couple floors ?...

**buildingsofdetroit** · January-25-11, 07:43 PM

Originally Posted by cmubryan

Look for some big news today about the redevelopment of the Madison Building in GCP!

So is no news bad news?

**stinkytofu** · January-25-11, 07:57 PM

I've heard rumblings that is where the Fathead HQ will be and they might have a ground level Fathead store that fronts GCP [[makes sense with the stadiums). Unfortunately, I really have no idea how great my "source" is. Nonetheless, that would be pretty cool.

**cmubryan** · January-25-11, 08:08 PM

Went to a meeting yesterday that Dan Gilbert spoke at. He claimed that an announcement would be made today that some of the remaining Quicken employees would be moved here to fill the building. Also, he claimed that he and some other investors were buying up several highrises to develop further. Exciting stuff.

**Mind field** · January-25-11, 08:28 PM

Wow, that would be great if the Stott or Book tower were some of these several high rises he spoke about.

**Gistok** · January-25-11, 08:47 PM

Originally Posted by Mind field

Wow, that would be great if the Stott or Book tower were some of these several high rises he spoke about.

I cannot disagree with you there Mind field...

...but I would like to see the UA and the Whitney... with the Statler/Tuller sites as future expansion! That would have quite an impact on GCP, Bagley AND Washington Blvd.

**esp1986** · January-25-11, 09:01 PM

Originally Posted by Gistok

I cannot disagree with you there Mind field...

...but I would like to see the UA and the Whitney... with the Statler/Tuller sites as future expansion! That would have quite an impact on GCP, Bagley AND Washington Blvd.

First National Building on Campus Martius was one Dan Gilbert had an option on...

**Gistok** · January-26-11, 12:37 AM

Originally Posted by esp1986

First National Building on Campus Martius was one Dan Gilbert had an option on...

Yes, I forgot about that one... unfortunately he had one on the Lafayette Building as well...

But I wonder if he wants to spread his companies around the downtown area... or have more of a cluster of locations in one area. I guess we'll find out soon enough.,,,

**Gistok** · January-26-11, 12:55 AM

Originally Posted by rbdetsport

Since the DEGC and DDA seem like they will do anything for Quicken, this could be part of one of their bigger developments. it is too bad John Gallagher's article was soooo short and vague.

This is rbdetsport's comment from the David Whitney thread... and it does make one think....
what if the investment company involved in the $3.3 million purchase of the David Whitney Building is "pulling a Highgate" [[the secretive deal for another company named Highgate to buy the RenCen at a low price and then flip it to GM).... except in this case, switch the name "GM" with "Quicken"....

After all there were very very few details about the Whitney development... and that too has me wondering if Grand Circus Park is to becomes the multi-building location for the Quicken group of companies [[and others?). Perhaps the First Federal Building was meant to "throw off the scent" of land speculators?

There is so much potential, especially with the empty Statler/Tuller sites that can be developed, and there are still some "diamonds in the rough" on the north side of GCP.

A Madison-Whitney-United Artists... Quicken campus... with room for expansion.... Hmmmmm....

**tetsua** · January-26-11, 01:18 AM

Do you have any specifics on which buildings Gilbert was talking about to develop?

**Planner3357** · January-26-11, 06:59 AM

This has nothing to do with the Madison or the others on the south side of GCP, but I live on the north side and have noticed there is a construction dumpster on Adams in front of Pub Rub. Does anyone know what's going on in the space next [[west) to the bar? The door is framed out. I'd ask someone but by the time I get home all the workers are gone.

**bailey** · January-26-11, 09:14 AM

Originally Posted by Gistok

Bailey only believes in Barker's Law [["Murphy was an optimist")

That and basically I believe in deleting these "i've got a secret" threads. If you have the information post it. If you will lose your job or friendship by posting it...then don't. But this stupid "a little birdy told me a secret about ______ building" are just stupid. Here we are day two... still waiting for the "big news" that was supposedly coming out yesterday.

**gumby** · January-26-11, 09:23 AM

Originally Posted by bailey

That and basically I believe in deleting these "i've got a secret" threads. If you have the information post it. If you will lose your job or friendship by posting it...then don't. But this stupid "a little birdy told me a secret about ______ building" are just stupid. Here we are day two... still waiting for the "big news" that was supposedly coming out yesterday.

Completely agree.

**Mind field** · January-26-11, 04:59 PM

Here we go:

Quicken Loans founder buys downtown Detroit site
By JEFF KAROUB
AP Business Writer

DETROIT [[AP) -- Quicken Loans founder and chairman Dan Gilbert says he's bought a five-story building near the mortgage lender's downtown Detroit headquarters.

The company said Wednesday that Gilbert formed a partnership to purchase the Madison Building on Broadway Street. It was built in 1917 as part of the now-razed Madison Theatre complex.

http://hosted.ap.org/dynamic/stories...MPLATE=DEFAULT

**DetroiterOnTheWestCoast** · January-26-11, 05:16 PM

How strange. Somebody said that there was going to be news and there actually was!

**gumby** · January-26-11, 05:18 PM

Yeah... old news. Nothing new here.

**esp1986** · January-26-11, 05:23 PM

Don't really see how this was big news... a couple months ago, there was an internal email that said he had an option on the building which would be used as office space for Quicken and their Family of Companies... I figured "big news" would be an announcement of this with a bigger plan in mind, more than just office build out anyways.

NorthEndere · January-26-11, 06:51 PM

How many square feet is the building? It looks rather small. I wonder if Quicken still doesn't know exactly what it's going to do [[i.e. consolidation in a single facility, or spread them out in large to smallish buildings all throughout downtown)? In my dreams, somewhere down the road when they've become established in downtown and the office market picks back up, I'd love to see them in their own, new-construction high-rise/skyscraper, but they aren't the type of company that builds high-rise headquarters.

BTW, neither here nor there, but there are three Madison Buildings, downtown. You've got the Julian Madison Building on Washington Boulevard, the Madison Theatre Building on Broadway [[the one we're talking about), and then the Madison Office Building over on Madison just a block or two away.

EDIT: Crain's says the building is 48,000 square feet.

**Gistok** · January-26-11, 07:22 PM

The former Madison Theatre [[auditorium demolished in 2002) had a very shallow office block. So when the auditorium was demolished the office block portion was literally doubled in size... but still did not take up the entire former auditorium footprint. There is a small parking lot that takes up the remainder of the former theatre site... and time [[and patience) will tell if that lot will be expansion of the office block.... or a parking deck with 1st floor retail.

But the Madison Building cannot house a lot of office workers. That's why I'm still wondering about the David Whitney Building. Dan Gilbert knows real estate... and I bet that he knows that $3.3 million [[$2.3 million if you factor in the DEGC money) anywhere else in the world can't buy this kind of wow factor for his employees...