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Originally Posted by SonoftheRustBelt
Hope y'all don't mind an outsider chiming in but these seem so underwhelming for the site honestly. Forgive me if that's been said before. Hopefully demand for downtown living in Detroit will rise enough in the coming decades that something more prominent takes its place; in this regard it helps that the structure is made of wood.
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Surprisingly no one ever mentions the proposal that briefly appeared for the site in 2014.
It would have been two 40 story towers, a mid-rise boutique hotel, and 10 floors for a 700 space parking garage.
At the time, the land was city owned and it was reported the DEGC had rejected the proposal because the plan included revenue and expenses projects that were 'unrealistic'.
The developers offered $1.5 million dollars to buy the land with a $100,000 deposit. $120 million would have been spent on construction and business development. They stated the projected tax revenue to be $2,000,000 a year. Construction was expected to start as soon as the land was sold to these developers.
In 2014 that was a pretty uncommon proposal, but in 2019 with the Mid, Hudson's, Monroe Block, and other high rises in the pipeline, it might have been better received. Still, $120 million is cheap compared to other high rise proposals so it's still kinda suspect. Personally, I think it would have been a low quality project despite having good height.