Funding Archives - Think 313

Monroe Blocks Breaks Ground

2018/12/14 By Jared Hoffman Leave a Comment

Dan Gilbert’s long-awaited Monroe Blocks project in downtown Detroit broke ground on Thursday. The project spans a two-block area between Cadillac Square, Monroe Street, Randolph Street, and Bates Street and will include a 35-story office building, around 500 residential units, and 117,000 square feet of retail space. Currently, one block contains a parking lot and the Cadillac Tower, while the other block is comprised of a large vacant lot, the old National Theatre, a temporary skatepark created in part by Tony Hawk, and another building.

Rendering of the 35-story office building on Block A of the Monroe Blocks project. Courtesy of Bedrock Detroit.

Bedrock Detroit is investing over $800 million into Monroe Blocks and estimates that the project will support over a thousand construction-related jobs. Construction will be separated into two phases, each centered around a public space totalling more than an acre of open space combined. Construction is expected to be complete in 2022, the same year the Hudson’s site construction is supposed to be finished.

Phase 1

The first phase of construction, known as Block A, broke ground today. Block A is the block adjacent to Campus Martius and will contain the 35-story office tower as well as “a 17-story, 148-unit residential building and a total of 66,000 square feet of retail space.” The office building will be Detroit’s first WELL Certified building, based on how it impacts “human health and wellbeing, through air, water, nourishment, light, fitness, comfort, and mind.”

Phase 2

The second phase, or Block B, will contain more residential buildings, but final designs are still in the works. The facade of the National Theatre will be preserved and made into a pedestrian archway on Farmer Street.

Rendering of Monroe Blocks courtyard. Courtesy of Bedrock Detroit.

Bedrock’s press release also mentions the other three large projects that Gilbert’s real estate arm is currently working on. The projects, totalling $2.1 billion in investment, include the Hudson’s site, which will be Michigan’s tallest building, the restoration of the historic Book Building and Tower, and the 310,000 square-foot addition to One Campus Martius.

Courtesy of Bedrock Detroit.

Remove Downtown Detroit Freeways?

2018/12/13 By Jared Hoffman Leave a Comment

Freeways connect communities and are responsible for historic urban expansion and economic growth. They make it possible for an executive to work downtown and make it back to their suburb fifty miles away in time for dinner. They also split and destroyed neighborhoods and contributed to white flight and sprawling suburbs.These days, urban freeways might be more of a burden than a help. Cities across the world and country are removing inner-city freeways due to high maintenance costs and new developments in urban planning.

Black lines indicate freeways that will remain under this proposition. Blue lines indicate the 7 minute drive on Michigan Ave. from I-96 to Downtown and the 9 minute drive on Woodward Ave. from I-94.

Another crazy idea. It won’t be easy, and it won’t be cheap, but for a moment let’s consider removing all Detroit freeways surrounding Downtown and Midtown east of I-96 and south of I-94. The city is already in the works to remove I-375, so why not more? Downtown, Corktown, and Midtown are arguably the hottest neighborhoods in a quickly rebounding city, but they’re completely cut off by freeways. If you’ve ever walked from Corktown to Downtown on Michigan Avenue, you know what I’m talking about.

Blocks and blocks of packed bars and trendy restaurants give way to concrete and semi-truck exhaust as you walk over The Lodge freeway. Corktown and Downtown both taper off as they reach The Lodge, but imagine how three new blocks of Michigan Avenue in place of the freeway could transform both neighborhoods.

Imagine how much stronger the border between Downtown and Midtown could be with the removal of I-75 east of I-96. Removing the inner ring freeways would also reconnect Corktown and North Corktown and Woodbridge and Midtown.

Decreased Congestion

Some car-lovers are already bemoaning the loss of their speedy getaway to the suburbs after Red Wings and Tigers games, but do some research on Induced Demand and Reduced Demand and how they relate to freeways, and you might be surprised to learn that removing these freeways actually eases congestion and decreases drive time. And in any case, driving to Campus Martius from I-96 only takes seven minutes on Michigan Avenue, and it only takes 9 minutes to drive to Campus Martius from I-94 on Woodward Avenue. Seattle, Portland, and Milwaukee are just a few of the American cities that have removed freeways in favor of more unified city centers. Let’s at least consider starting the conversation in Detroit.

Mixed-Use Development Coming to Midtown Lot

2018/11/27 By Jared Hoffman Leave a Comment

The lot slated for development at 3750 Woodward Avenue in Midtown Detroit.

A 3.78-acre lot just north of the Whole Foods in Midtown Detroit reportedly sold in September to a limited-liability company registered to Mohammad Qaz, CEO of Southfield-based Ciena Healthcare Management Inc. Crain’s Detroit reported this morning that the site sold for $15 million, or $3.97 million per acre. Ciena Healthcare operates and maintains 45 nursing facilities and rehab centers in Michigan, but it appears that the Midtown purchase will not necessarily contain a healthcare element.

During a Crain’s phone call with Qaz, the CEO stated that the development will “be one of the most exciting projects to take place in Detroit. It’s going to be a mixed-use development, upscale.” Not much more is known about the plans for the lot at 3750 Woodward Avenue, but more information is expected in the next few months along with a spring groundbreaking.

Grand Rapid’s Rockford Construction will be leading the development, and the team has already started preliminary work on the Midtown site. Shane Napper, the president of Rockford Construction, told Crain’s that the development will “meet several market needs in the community.”

The area surrounding the lot speaks to the city of Detroit’s more recent revival, especially in the Midtown district. The Plaza, formerly known as the Hammer and Nail Building, has undergone a $24 million redevelopment and now houses 72 apartments and 2,000 square feet of retail just north of the lot. Big developments are still in the works a block south, including the West Elm Hotel, the South of Mack Avenue (SOMA) project, and the Woodward @ Midtown mixed-use project.

Ralph C. Wilson Jr. Foundation Grants $100 million to Detroit Parks

2018/10/25 By Jared Hoffman Leave a Comment

Rendering of the West Riverfront Park redesign. Courtesy of Michael Van Valkenburgh Associates.

The late Ralph C. Wilson, former businessman, Buffalo Bills owner, and longtime Detroit resident, would have celebrated his 100th birthday last week. Instead, his philanthropic foundation is donating $100 million to parks and trails in Detroit. Half of this sum will go to the Detroit Riverfront Conservancy’s planned redesign of the West Riverfront Park just west of Downtown. The conservancy will rename the 22-acre park the Ralph C. Wilson Jr. Centennial Park after finishing the project.

Of the $50 million going to the West Riverfront Park, $40 million is earmarked for construction costs, and the remaining $10 million will aid the park’s long-term sustainability. The other half of the $100 million gift will expand and protect recreational trails in the city, such as the planned Joe Louis Greenway, a 26-mile greenway through Dearborn, Highland Park, Hamtramck, and Detroit. The Ralph C. Wilson Jr. Foundation has been working together with the Detroit Riverfront Conservancy to figure out what the city of Detroit really needs and values on its riverfront.

Rendering of the West Riverfront Park redesign in winter. Courtesy of Michael Van Valkenburgh Associates.

The riverfront park is being designed by New York-based Michael Van Valkenburgh Associates, who have released designs and renderings for their vision. Van Valkenburgh said of the design, “It was love at first sight when I saw the Detroit River . . . The big idea is that you can actually put your toes in the water of the river, and that there will be a beach around it that if you don’t want to be in the water you can feel really connected to the water. So that forms a kind of center of the park.”

Other features include a small island, basketball courts, a concert space, waterslides, and a space for ice skating in the winter. The park should be ready to open to the public in four years.

Donation to Buffalo, New York

The Ralph C. Wilson Jr. Foundation donated an additional $100 million to the city of Buffalo, New York for parks and recreational trails.

Rendering of a basketball . court in the West Riverfront Park redesign. Courtesy of Michael Van Valkenburgh Associates.

Shinola Hotel Developments

2018/10/11 By Jared Hoffman Leave a Comment

Rendering of the Shinola Hotel on Woodward Avenue. Courtesy of Shinola and Bedrock.

Shinola and Bedrock Detroit teamed up to bring a unique boutique hotel to 1400 Woodward Avenue. Construction began in January 2017 and speculation of what would fill the 16,000 square feet of dining and retail space has left Detroiters guessing, but now we know.

Shinola Hotel will offer 130 hotel rooms, a glass-enclosed event space, and a unique retail and dining experience. The boutique hotel is expected to open in December 2018.

Four different retail establishments will occupy the first floor. Madewell, the effortlessly cool women’s clothing store, will open its third Michigan location in the Shinola Hotel. Le Labo, a luxury fragrance brand that is known for its subtle scents and apothecary packaging will claim another retail spot. The Berkley based juice company, Drought, which offers locally sourced and produced USDA organic and cold pressed juices, will relocate from the Chrysler House on Fort Street to a Shinola retail space. Lastly, the Detroit-based clothing brand, Good Neighbor, will occupy the remaining retail spot.

NoHo Hospitality Group, a New York based hospitality company, also announced this week that it plans to open three different dining options in the Shinola Hotel: an Italian restaurant, an American beer hall, and a craft cocktail lounge called Evening Bar.

By Allecia Jurkiewicz
Research Manager, JMJ Phillip Group

Old Wayne County Building Restoration Complete

2018/10/10 By Jared Hoffman Leave a Comment

Old Wayne County Building. Courtesy of Andrew Potter.

The restoration process of Downtown Detroit’s Old Wayne County Building is finally complete after two years. Ownership group 600 Randolph SN LLC purchased one of the most architecturally striking buildings in the Motor City in July 2014 for $13.4 million, and the firm from New York spent a further $7 million on the renovation efforts. Crain’s Detroit Business reports that work focused primarily on “the exterior masonry, window restoration and exterior lighting… [as well as] work on the stairs and concrete around the building.”

Owners 600 Randolph SN LLC said back in May 2017 that they are seeking a single tenant to fill the 225,000-square-foot space. Interesting tenants that have been floated could include the City of Detroit using the 116-year-old building as City Hall, a boutique hotel, a museum, or a large automotive company. For example, Cadillac is moving its headquarters back from New York City to a 150,000-square-foot building in Warren, Michigan.

Quinn Evans Architects was the architectural firm on the renovations, The Christman Co. was the general contractor, and Farbman Group is the firm marketing the building for lease.

The Detroit News spoke to Eric Kehoe, the board president for Preservation Detroit, on the renovations. “People love to see historic buildings like this restored…It’s an energizing project. Their work shows that preservation is not only economically feasible, but the best option for development in the city.”

History

The Old Wayne County Building opened in 1902 and was designed by the controversial architect John Scott, who left the city a large sum of money in his will under the condition that they build a statue honoring him. The building was formerly owned and occupied by employees of the Wayne County executive branch, but it has been sitting vacant since 2009, when the country moved its employees into the Guardian Building.

360 Apartments, 120 Hotel Rooms Coming to Detroit Riverfront

2018/10/09 By Jared Hoffman Leave a Comment

Site of the apartment and hotel project on Detroit’s east riverfront. Courtesy of Kirk Pinho and Crain’s Business Detroit.

A new development near Orleans Landing and the soon-to-be-renovated Stone Soap Building on the east riverfront area will start taking shape in the next few years. The $136 million development is being spearheaded by Detroit’s City Growth Partners LLC, and the project will include 360 apartment units, a 120-room boutique hotel, and 30,000-40,000 square feet of retail space. Originally meant to be part of the second phase of the Orleans Landing project, the Detroit Economic Growth Corp. transferred development rights from the original developers, McCormack Baron Salazar Development Inc., to “an entity affiliated with City Growth Partners.”

The 3.1-acre site sits between Franklin Street, Riopelle Street, Atwater Street, and Rivard Street in the Rivertown – Warehouse District neighborhood just east of downtown. Construction is expected to begin in early 2020, with a two year construction timeline. An unidentified boutique hotel chain signed a letter of intent with the developers, and apartment units will rent at around $2.50 per square foot, with 20 percent of the units set aside for renters earning less than 80% of the median income for the metropolitan area.

The developers are planning to give all residents and hotel guests a view of the river, but is not expecting the building or buildings to rise past eight stories. The news comes at a time when the riverfront areas both east and west of downtown are heating up.

Rivertown Projects

The Stone Soap Building across the street from this project is being redeveloped to include “63 residential units, 13,000 square feet of retail space including a European-style food hall, and a permanent performance space for Shakespeare in Detroit.” The Elevator Building, previously home to the infamous prohibition-era Purple Gang, has moved hands to a New York City investor with upgrade plans. Developer The Platform is also planning to redevelop the former Big Boy restaurant on East Jefferson into “an 8 to 10 story building with around 240 rental units and 11,000 square feet of commercial space”.

Hudson’s Site May Reach 912 Feet

2018/10/04 By Jared Hoffman Leave a Comment

Rendering of Hudson's Site development. Courtesy of Bedrock Detroit.

Rendering of original Hudson’s Site development. Courtesy of Bedrock Detroit.

Crain’s Detroit is reporting that Dan Gilbert’s real estate firm, Bedrock LLC, may not yet be decided on the height of the under-construction skyscraper at the site of the former Hudson’s department store. Previously announced at 800 feet, the Hudson’s site tower would still be the tallest building in Michigan, beating the Renaissance Center by almost 75 feet. But Joe Guziewicz, Bedrock’s vice president of construction, has stated the building will be taller than the originally planned height, and it may even reach over 900 feet.

Guziewicz said the elevator cores of the building can currently support a building up to 912 feet. The maximum would be tall enough to be the 34th tallest building in the country if completed today. In reality, construction will take four or five years, and foundation preparation has already started.

Rendering of Hudson’s Site. Courtesy of Bedrock.

The original plan for the building, released in February 2017, revealed a 734-foot-tall tower priced at $775 million. In September of that year, the tower grew to 800 feet and $909 million. It’s not clear how much the cost of the Hudson’s site skyscraper will rise if another 100 feet are added, but it would almost certainly be a billion dollar project.

According to Crain’s, Guziewicz said the Bedrock team has been debating the details for almost a year. “We may end up at 900. This has been an ongoing struggle for us for the last eight months. We get one shot and we want to be sure we have the right components inside.”

Previous Plan

As previously reported by Think313, the 800-foot tower was set to contain 330-450 residential units and a skydeck with the best view of the city and surrounding areas. A market and office space was supposed to anchor the smaller, adjoining building, with over 700 underground parking spaces.

Haunted Attractions In and Around Detroit

2018/09/26 By Jared Hoffman Leave a Comment

It’s again that time of year where brave individuals seek the thrill of haunted attractions. Metro Detroit is home to some of the top-rated thrill parks in the nation, leaving visitors with plenty of variety to visit.

Ford’s Michigan Central Station

Ford Motor Company is once again bringing buzz back to the Michigan Central Station. Early this week, Ford announced the vacant train station will transform into a haunted house this October. More details will be announced soon, but in the meantime, here is a list of our favorite haunted attractions:

Azra Chamber of Horrors Haunted House– 31401 John R Rd., Madison Heights, MI 48071

Azra’s is one of Detroit’s newest haunted attractions. It offers guests a chance to walk through the maze of terrifying chambers. Tickets range from $20-$43.

A Terror in Townsend Forest– 4770 Waterford Rd. Clarkston, MI 48346

This ½ mile haunted trail is open every Friday and Saturday now through Halloween. This attraction is presented by Oakland County Sportmen’s Club. Tickets range from $10-$15.

Erebus Haunted Attraction- 18 South Perry, Pontiac, MI 48342

This four-story haunted tower of terror has been voted amongst the top haunted attractions in the nation. Erebus has been featured on A & E Channel’s My Ghost Story (Episode 63), the Travel Channel, and the Discovery Channel. Open every day now through Friday November 3^rd. Tickets range from $18 – $28.

Courtesy of Erebus Haunted Attraction.

Haunted Farm of Terror- 28405 26 Mile Road, Lenox Township, MI 48048

The Haunted Farm of Terror is celebrating it’s 15^th year of being a full-service haunted complex, which includes a haunted house, a hayride, and a zombie assault paintball convoy.

Tickets range from $20-$25.

Courtesy of Wiard’s Night Terrors Haunted Thrill Park.

Wiard’s Night Terrors Haunted Thrill Park– 5565 Merritt Rd, Ypsilanti, MI 48197

Voted Michigan’s #1 Haunted Thrill Park, this haunted park is located on 89 acres of terror. Wiard’s Night Terrors offers Splattertown Paintball, The Ultimate Haunted Barn, The Asylum, Alien Caged Clowns, The Mineshaft, and the Hayride of the Lost. Tickets range from $18-$44.

By Allecia Jurkiewicz
Research Manager, JMJ Phillip Group

Modular Apartments Come to Corktown

2018/09/21 By Jared Hoffman Leave a Comment

The Corner at Michigan and Trumbull. Courtesy of Larson Realty Group.

Apartments at Trumbull and Michigan are rising, but this is unlike any other apartment construction we’ve seen in Detroit to date. The city’s first-ever stacked modular apartments are fabricated off-site, transported to Trumbull and Michigan, and then stacked on top of each other using a crane. Eric Larson’s Larson Realty Group is bringing more than 100 residential units and a dozen retail units to the famous corner that once held old Tiger Stadium.

The units in Corktown are currently available for reservation for leasing, and the apartment units start at $1,100. Around 20% of the residential spaces and 50% of the retail spaces at “The Corner” will be held for lessees making less than the area median income, which sits around $56,142 for a household in the Detroit-Warren-Livonia area.

A modular apartment is lifted by a crane to put into place for installation. Courtesy of The Detroit News.

The $30 million mixed-use development broke ground in May, and the building should be open in February. Larson expects all four residential floors to be installed in a matter of 30 days. The off-site modular fabrication and onsite installation process is utilized in a larger number of cities, especially in Europe, due to its relative speed and ease in construction. Larson stated to The Detroit News, “What would normally be a 16- to 18-month construction window we’re now at 8 to 10 months. It cuts the time in half and allows us to create a quality product but in a short period of time.”

Champion Homes, from Troy, Michigan, fabricates the modular units, which average out to 650 square feet between studios to two-bedroom apartments. The largest unit is 1,200 square feet.

Corktown Developments

Corktown is an extremely hot market for construction and redevelopment at the moment, with the largest and most exciting project being Ford Motor Company’s redevelopment of the iconic Michigan Central Station. The Elton Park project is still under construction and will bring more than 400 residential units to the area.