Posted Jan 15, 2017, 10:04 PM
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Registered User
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Join Date: May 2012
Location: Metropolitan Detroit
Posts: 712
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Big news for Pontiac Australian-based software company BoonEx buys Phoenix Center, will relocate its North American HQ into connected office towers. This is a very significant for the city of Pontiac not only is the phoenix center in need of costly repairs which will presumably be done by its new owners but with a software company moving its NA HQ into the adjoining 2 office towers it seems like a large number of skilled workers will be coming into downtown. Hopefully BoonEx can do for the phoenix center what GM did for the Ren Cen.
Whats more Peter Karmanos' technology-investment company Mad Dog Technology LLC moving 3 of its tech companies into the Riker Building downtown, downtown pontiac is looking like its emerging as one of the regions tech hubs.
It would be cool to see with the new interest in Pontiac as a tech center the villages at bloomfield development configured to take advantage, that could really make what is a pretty bland project into much more of an asset beyond bringing new residents and retail to a major thoroughfare between Pontiac and one of the richest city's in the country.
Quote:
Pontiac sells Phoenix Center to Australian-based software company
By KURT NAGL
January 12, 2017
Crain's Detroit Business
Pontiac City Council members voted 7-0 Thursday night to sell the city's troubled downtown Phoenix Center parking garage in a complex deal with an Australian-based software company, the Detroit Free Press reported.
BoonEx has told the city it would relocate its North American headquarters from Atlanta to two office towers connected to the Phoenix Center.
In a deal that is to close Feb. 13, the city would sell the parking deck for $3 million but gain no money because of liens outstanding on the structure, which the city has failed for decades to maintain, attorneys at the meeting told city officials, the Free Press reported.
Mayor Deirdre Waterman said the deal is a "win-win for the people of Pontiac" because it releases them from lawsuits with the owners of Ottawa Towers, which could've ultimately cost the city more than $20 million, the Free Press said.
The Phoenix Center parking deck and rooftop amphitheater was built in the 1980s and touted then as the beginning of the city's comeback. Now in need of costly renovations, it has been more of a burden to the city than an asset.
Waterman has supported selling the Phoenix Center to BoonEx. The company has also struck a deal to purchase the Ottawa Towers in a related deal.
The city has been tied up for several years in lawsuits with the owners of Ottawa Towers — Michigan-based Ottawa Tower II LLC and North Bay Drywall Inc. Profit Sharing Plan and Trust. The lawsuits center on the city's bid to demolish the Phoenix Center.
The deal would offer several benefits for a city trying to emerge from troubled times, Waterman said. BoonEx would pay the city $3 million for the structure, Waterman said, putting an end to the city's ongoing litigation. Pontiac would also save $2 million in demolition costs, she said. Finally, BoonEx would help breath new life into the city and help establish it as an up-and-coming tech hub, Waterman said.
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Its hard to find a good view of downtown Pontiac and the Phoenix Center so i thought id add in a view from the park on the roof of the P.C. looking over downtown. The second i believe is a zoomed in view from the park as well looking down saginaw st to the pontiac state bank building.
http://www.crainsdetroit.com/article...ftware-company
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Here's a bit about Karmanos' Mad Dog move from the end of october.
Quote:
Karmanos' Mad Dog to move 3 tech companies into downtown Pontiac, hire more than 100
Lenderful to invest more than $1.75 million
By KIRK PINHO
10-27-16
Crain's Detroit Business
Peter Karmanos Jr.'s technology-investment company Mad Dog Technology LLC is taking 15,000 square feet of space in the Riker Building in downtown Pontiac for three of its companies.
Birmingham-based Mad Dog, of which Karmanos Jr. is chairman and Mark Hillman is co-founder, says it plans to hire more than 100 people for its Lenderful LLC, Deliver My Ride LLC and Perfect Realty LLC companies in the next three years.
Lenderful is a cloud-based software that allows people to search and apply for mortgages. Deliver My Ride is a car-buying software and Perfect Realty is a home-listing software.
"There is relatively inexpensive space that is more accessible by people that live around there," Karmanos, the founder of Detroit-based Compuware Corp., said Thursday morning in an interview with Crain's.
"It's our target market for employees, with better school systems surrounding it. It just was a natural place if you want to build a high-tech center and you want to be competitive for someone who would have to drive 20 minutes on a winter day to get to work, and we have parking where we are at, versus having to drive an hour and a half to go to work with no parking."
Hillman said Thursday morning that the companies are cramped in their space in downtown Birmingham. The relocation of the three Mad Dog companies, which has a portfolio of eight firms, is expected to start immediately, Hillman said.
"It will be world-class tech space," he said. "That’s part of the strategy of how you get the right talent, you bring them into tremendous quarters."
The Lenderful investment in Pontiac is more than $1.75 million, according to a news release. The total investment for the three companies is not being disclosed. Lenderful received an $800,000 Michigan Business Development Program grant, the release said. Pontiac is waiving building and other permit fees, the release said.
"We are just moving three companies, but these three businesses in particular are in industry segments that are huge, so we have collectively put many millions of dollars already to date in our forward plans, let alone the Pontiac plan move and that investment requirement," Hillman
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http://www.crainsdetroit.com/article...wntown-pontiac
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