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  1. #11
    Join Date
    May 2009
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    Quote Originally Posted by mikeg19 View Post
    I'm curious to understand why the land deal with the church is taking so long to negotiate. I thought that'd be a fairly simple deal to make happen.

    There is an interesting point though. Between those apartments, the new LC headquarters, and Eddystone, you've got about $100M investment there. That hardly puts a dent in reinventing 45 blocks of land with hotels, residences, commercial space, etc. Are they planning on spending more money to make that come to fruition? Kinda curious to see what else is going to happen there. I'd think to truly redevelop that amount of land would be well over that $200M figure.
    200M is a start. It doesn't buy much if one building is a new office building.

    I conceive of the 200M as a down payment [[or seed money) on the whole area with the rest of the development and who does it and whose money, TBD.

    I've always maintained that the success of the area will not be determined by the Ilitiches but what OTHERS buy into doing.

    I've always believed that the Ilitches have only promised, otherwise, to build an [[additional) office building at Woodward/Sproat or Temple? Maybe a few parking garages. A building with rooftop seating beyond the right field wall by Comerica.

    Tossing out crazy guesses but that might be a total of $150M itself, leaving say 50M 'must spend' dollars. Maybe some of that 50M goes 'west of Cass' in the area where the Ilitches have bought property.

    A hotel at Woodward/Fisher will be someone else project and money.
    Last edited by emu steve; October-03-15 at 03:05 AM.

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