Posted Mar 27, 2018, 9:56 PM
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Registered User
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Join Date: May 2012
Location: Metropolitan Detroit
Posts: 712
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Quote:
Partially collapsed Grosfield Building to be renovated in $4 million mixed-use project
By ANNALISE FRANK
Crain's Detroit Business
March 26, 2018
-Total of four buildings in southwest Detroit to be redeveloped
-20 lofts, retail or restaurant space planned
-Warehouse Development specializes in historic renovations
Detroit-based Warehouse Development, which specializes in historic renovations, is doing preliminary work and plans to redevelop four buildings at 3365 and 3363 Michigan Ave., just west of Corktown.
The $4 million Grosfield Lofts project includes the three-story, red-brick Grosfield Building, which has a distinctive corner turret and dates back to at least 1893, and two other buildings along Michigan Avenue. The three total approximately 27,000 square feet.
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Work is expected to officially begin in a month or two and take nine to 12 months to complete.
Ground floor space along Michigan Avenue could be used for four retail shops or a larger restaurant concept, Mooney said, adding that he's already had interest in the latter.
A fourth building behind the three along Michigan is 4,000 square feet and could be used for either restaurant space or another, larger residential unit, Mooney said.
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http://www.crainsdetroit.com/article...d-in-4-million
The problem with City Airport is that the main runway isn't long enough to accommodate 747's and is flanked by cemeteries at both ends which have proved difficult to try and relocate in the past.
I agree with the consultants that I'd like to see commercial service return to the airport at the same time I'm also all for more industrial development say to the west of City Airport which wouldn't require selling off parts of the Airport. On the other hand if commercial service is brought back the Chandler Park area could really benefit from because of the demand for retail and hotel services.
Quote:
Consultant urged against redeveloping Detroit airport
By KIRK PINHO and CHAD LIVENGOOD
Crain's Detroit Business
March 25, 2018
POSSIBLE AIRPORT IMPROVEMENT PLANS
-First option: $23.2 million, bring the airport up to good working condition.
-Second option: $37 million to $50.4 million, making the airport "the premier destination for general aviation aircraft in metro Detroit."
-Third option: $83 million, bring air carrier service back to the airport
A draft report commissioned by the city suggests that the Coleman A. Young International Airport should remain just that — a general aviation airport — rather than funneling large chunks of it off to developers for new industry and jobs.
Rather, between $23.2 million and $60 million should be spent on improvements ranging from the bare minimum to bring the airport up to current standards to improvements that would attract commercial carrier service back to the airport after a nearly two-decade hiatus, according to the draft report.
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"Phase No. 1 is basically gathering the facts," Howbert said. "When we got some of the work-in-progress drafts from the consultant, we basically said they skipped ahead. I think they just got ahead of themselves. They produced a document that wasn't consistent with what we wanted. Phases No. 2 and No. 3 are really going from the basic facts from Phase No. 1 and looking forward into the different scenarios."
Those scenarios are as follows, Howbert said: "Maintain it as it is as an airport and bring it up to good repair; Scenario No. 2 is to maintain the airport with a single runway with some development around it; and Scenario No. 3 is closing it entirely" and redeveloping its 264 acres.
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But Detroit would likely face an uphill legal, political and budgetary battle if Duggan moved to sell off all or part of the airport land.
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For years, the airport has operated at a loss. The airport had $2.43 million in expenses in fiscal 2017, compared to $701,000 in revenue, for a $1.73 million loss. It lost $2.02 million in fiscal 2016 on $477,000 in revenue and $2.5 million in expenses.
Two factors appear to be contributing to those losses: increasing and "extremely high" utility costs growing to 57 percent of the fiscal 2017 budget, and low fees that aren't generating enough revenue.
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http://www.crainsdetroit.com/article...etroit-airport
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“Mike, you got it? No f**king crazy talk from anybody in the administration.” (Trump to Pence on the eve of the US - DPRK Hanoi summit)
Says the pot to the kettle in a moment of self projection
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