Quicken Loans

[gthomas]

I have being trying to study scales of skyscraper estimate to cost $192 millions. As you've been hearing about their expansion recently into the Chase Tower soon. There planning to build its headquarters in 2013, that very soon to announce later this year maybe ....some sort of a plan by mid 2012? I google a couple skyscrapers costing $192 million to build, given that Quicken Loans estimate cost to build its headquarters will be that. Heres what I came up with..

[gthomas]

http://www.scottent.com/assets/image...tional%202.jpg

[BrushStart]

Where did the $192 million number come from?

[thecarl]

I suppose you will need to deduct from the $192M the cost of abatement, demolition, and removal of the Chase tower?

[gthomas]

One news article i found, i will post it for you. But yeah, it mention that Quicken Loans will build its $192 million headquarters in 2013? Im trying to figure out myself on the pricing and how sq. footage play apart of how tall it skyscraper will be.

http://www.modeldmedia.com/inthenews...cken20109.aspx

[Gistok]

No... I think he's referring to the $200 in incentives for Quicken to build a new HQ downtown... I believe $8 million is somehow already spent [[Madison and/or Chase Bldgs.?).

[gthomas]

$192 million...isnt really much for something dramatic.? Compuware cost $500 million..? Only 17 story..?

[Jason]

It seems like the plans reported in that article have changed.


But Compuware cost 350 million, and 1 Kennedy Square cost 54 million. Compuware is a really gigantic building though, plus it has a big parking garage.

[gthomas]

So what size do you think a $192 million building will be? Either on Hudson, Monroe, or Statler site, which is not that large to me?

[Jason]

A while ago an architecture firm accidentally posted a rendering of a building that occupied both the Statler and Tuller sites on Grand Circus Park. If I remember right, it was only a few stories tall and had a lot of balconies. I that scheme I think the new building was to be residential and the UA building would have been office but I forget. I think that would cost more than 192 million though, and that was a while ago.

I think 192 million could build a short fat building on the hudsons site, or a slightly taller building on the statler site. I don't think you could properly fill out the monroe site though, i think that site calls for to big of a building.

[artds]

Those renderings were more than a few stories tall. There were two different building designs, and they each appeared the be roughly the same height as Compuware. I think I still the have images on my home computer somewhere. If anyone is interested, I can try to find them and post them.

[davewindsor]

One news article i found, i will post it for you. But yeah, it mention that Quicken Loans will build its $192 million headquarters in 2013? Im trying to figure out myself on the pricing and how sq. footage play apart of how tall it skyscraper will be.

http://www.modeldmedia.com/inthenews...cken20109.aspx

That article was written in 2009. The new Governor was elected a few months ago and I thought the Governor announced that he was doing away with all these tax rebates and credits that Dan Gilbert wanted to make it happen, so I can't see why he would still want to build one when you can buy an empty skyscraper in downtown for pennies on the dollar of its replacement cost.

[canuck]

That article was written in 2009. The new Governor was elected a few months ago and I thought the Governor announced that he was doing away with all these tax rebates and credits that Dan Gilbert wanted to make it happen, so I can't see why he would still want to build one when you can buy an empty skyscraper in downtown for pennies on the dollar of its replacement cost.

137% davewindsor; recycle, reduce, reuse. I would forget about skyscraping for now and concentrate on rehabbing the shit out of the old towers that are the envy of a lot of cities.

[Meddle]

So what size do you think a $192 million building will be?

Wait and find out? Unless you're an architect or contractor considering bidding, does it really matter?

[401don]

If we add 10 stories for every 5 years we wait for this fantasy skyscraper that puts it at about 94 now.

[Planner3357]

Those renderings were more than a few stories tall. There were two different building designs, and they each appeared the be roughly the same height as Compuware. I think I still the have images on my home computer somewhere. If anyone is interested, I can try to find them and post them.

I'd like to see those.

[Red Devil]

Hopefully the building's height will be in proportion to Dan's ego

[gthomas]

I agree Red Devil!! Use the empty structures downtown for residential and BUILD new modern class-A office similiar to Compuware. If your waiting to fill space downtown for office worker you will be waiting another decade. Fill those empty skycrapers with residential...

[gthomas]

Not EXPENSIVE fancy condos... but AFFORDABLE loft style "RENTAL" apartments. they will fill up quickly, rather than office worker. Downtown is in need of affordable rental housing...my opinion. I have so many folks asking me where to look to live downtown. The question always comes up " Why not turn these old skyscrapers into residential towers?" From what I hear, more people are looking to "live" than "work" in those empty skyscrapers..

[gthomas]

BUILD NEW OFFICE TOWERS, Old skyscraper dont have the layout, space, and amenities that new modern buildings have. It only make sense, HELLO! Look at Compuware success and how it transform that area and attracted all types of major companies and retail. The proof is there, now I dont think it will be that successful if Compuware went into Cadillac Center or something..? Dont fit with the 21st century...cant compete right now. Not for office , but cool residential. Just saying..

[Bham1982]

In 2011 dollars, $192 million will not get you much of a downtown office building.

Given the vast availability of downtown space, what is the reasoning behind another new building? The economic impact is in the workforce, not in more unneeded bricks and mortar.

[gthomas]

I gave a reason on WHY to build new for office rather than use an empty early 19th century building. That will fit more for residential, not office...So you guys believe Compuware should of NOT built a new class A office building and have the same affect in renovated empty skyscraper? What attracted Quicken Loans to Compuware building was for...what? The space and amenities...and pretty sure others things or incentives..Why havent these companies chosen to set up shop in these "empty" skyscraper...you guys so concern about my reasons on asking why I have a explanation or why do I care?...Whats yours otherwise?

[Meddle]

Just saying..

Yeah. 3, 4, 5, 6 times, over and over.

[Bham1982]

I gave a reason on WHY to build new for office rather than use an empty early 19th century building.

There's very little 19th century office space in downtown Detroit. The vast, vast majority is 20th century,

And there are plenty of modern buildings with available space, such as Chase, 1001 Woodward, One Woodward, RenCen, 211 West Fort, 333 West Fort, and many others.

And there's nothing that precludes older buildings from housing modern office uses. Places like SoHo in Manhattan have lots of very high-end 19th century office space.

If Quicken wants to build something new, that's fine, but it certainly can't be argued that a new building would be demand-driven. The downtown area has been playing a game of "musical office space" since the RenCen was built.

[Red Devil]

If Quicken Loans and the market are in good shape when construction starts, then I would imagine that the HQ building will be impressive. Financial service companies usually go all out when building new offices.