Gistok, I do not believe One Detroit Center or 150 West Jefferson were built with UDAG grants. Bothe were economic disasters or the first order.

Hines conceived ODC and obtained construction and long term financing from Deutchebank, [[sp?) which subsequently withdrew from the deal. So CAY, a wheeler dealer, coerced Michigan Bell, Detroit Edison and another heavyweight into leasing moist of the unbuilt building at ridiculously high rental rates, and they became, practically speaking, guarantors of the loan through their leases. Of course when the building was completed the market wasn't even close to the actual rental rates they could achieve so they had to sublease all the space they could at about 60-70% of what they were obligated to pay. They possibility incorporated their losses into their electricity and phone rates. [[Probably not.) Anyway, it was a financial disaster from day one.

The guy from Denver who developed 150 Jefferson [[John - forgot his name) lost the building when it was completed. He lost his permanent lender because he couldn't comply with its Loan Commitment, and Lehndorff U.S.A. of Dallas backed out of its deal to buy the building. Another economic disaster. For years it was impossible for a developer to get financing for a major [[or minor) project in Detroit, which had a terrible reputation. By the way, the Detroit Pension funds lost $7 million [[it had a second mortgage) when the construction mortgage was foreclosed. Another ill conceived financial disaster from day one.

Those buildings together with the Ren Cen generated huge losses to the developers and their investors.

You all realize, I hope, that real estate developers have to be half crazy. And architects, who are most interested in building monuments to themselves rather than economical, profitable, utilitarian developments, are just one burden developers have to bear.