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    TCF Bank Building in the SkyscraperPage Database

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  #21  
Old Posted Jan 28, 2019, 6:56 PM
jmcilreavy jmcilreavy is offline
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"I think that (the tower is) going to have to grow, because we're going to have more people in Detroit," said Chemical Bank chairman Gary Torgow
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  #22  
Old Posted Jan 28, 2019, 8:00 PM
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The end of the article also mentions that there could possibly be another acquisition in 2020. The rumor is Chemical was looking to acquire Flagstar which is currently headquartered in Troy. Being that this is just a rumor and there's no telling whether this was a possibility before or after the merger with TCF, at the very least this means the new Chemical/TCF Bank will have a lot of buying power and could possibly acquire a bank from whatever state they're looking to expand in to.

They're going to need a way bigger tower if they want to stay in Detroit and make any acquisitions in the near future. I don't know if they'll have to find a new site to be able to expand the footprint of their building, but even so there's less than a handful of sizable parking lots they could develop that aren't already owned by Dan Gilbert. It'll be interesting to see how this plays out.
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  #23  
Old Posted Jan 28, 2019, 11:06 PM
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Originally Posted by animatedmartian View Post
The end of the article also mentions that there could possibly be another acquisition in 2020. The rumor is Chemical was looking to acquire Flagstar which is currently headquartered in Troy. Being that this is just a rumor and there's no telling whether this was a possibility before or after the merger with TCF, at the very least this means the new Chemical/TCF Bank will have a lot of buying power and could possibly acquire a bank from whatever state they're looking to expand in to.

They're going to need a way bigger tower if they want to stay in Detroit and make any acquisitions in the near future. I don't know if they'll have to find a new site to be able to expand the footprint of their building, but even so there's less than a handful of sizable parking lots they could develop that aren't already owned by Dan Gilbert. It'll be interesting to see how this plays out.
Does anyone know, what is the tallest building they could build at the current site
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  #24  
Old Posted Jan 29, 2019, 1:42 PM
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The cubical content of the two lots (combined) is 215 (L) x 90 (W) x 360 (H) = 6,966,000. So you can play around with that, but 360 feet for a uniform rectangular building filling the whole lot, and taller if they taper it/have stepbacks, of course.
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  #25  
Old Posted Jan 29, 2019, 4:54 PM
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Funny, when the move was announced people said Chemical was too small and that they would be gobbled up and moved elsewhere eventually. How the tables have turned.

This now being an significant HQ it makes me dislike the location even more, such a large bank should have a trophy space on Fort Street closer to the actual financial district.
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  #26  
Old Posted Jan 30, 2019, 7:12 PM
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Originally Posted by LMich View Post
The cubical content of the two lots (combined) is 215 (L) x 90 (W) x 360 (H) = 6,966,000. So you can play around with that, but 360 feet for a uniform rectangular building filling the whole lot, and taller if they taper it/have stepbacks, of course.
Logistically the current site isn't the most ideal for a building that might house above several hundred employees. 500 might have been doable, but above that and you have to consider traffic patterns and a bigger emphasis on available parking (or space for parking).

A better location would probably be south of Grand Circus preferable as close to Woodward and Jefferson as possible.
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  #27  
Old Posted Jan 31, 2019, 3:10 PM
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We can debate sites, but they are building where they are building right now, and that is what I'm concentrated on. If they need extra space, it would be easy to find it in the surrounding neighborhood. Wouldn't be surprised if they ever needed more space if they didn't rent out some in the new Hudson Block or one Campus Martius expansion or Monroe blocks. Lots of office space will be hitting the market in the next few years. They could also scrapped the residential portion of the project if they are just pressed. Honestly, though, I don't think this is going to need to be ridiculously bigger than planned.
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  #28  
Old Posted Jan 31, 2019, 7:11 PM
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Not a space issue, a traffic issue. Or rather, space for traffic. If 500-600 people are showing up for work around 7-9 AM, at the current location, a majority of employees would likely use the I-75 exit at 2nd & 3rd/Grand River. At least according to Google this is the quickest route from most any direction. However, the tower as currently proposed only has ~400 parking spaces attached, so roughly 200 people will have to park in the surrounding area or use some other method of getting to work.

That's kind of inconvenient, but tolerable given that the only competition in that area for parking is really Olympia and the stadium traffic on game days. But if the company is expected to grow with this new merger and any possible future acquisitions in only a few years, it can be easily expected to grow the employee count. That means more people using that one exit which will of course lead to congestion. Some employees will try to avoid it and use alternate routes, but there's generally not a lot of options. That why Woodward and Jefferson is a better spot because of the direct connection to the freeways as well a being close to the QLine for any number of employees who might use it.

In a lot of cities, you often see a pattern where financial districts or clusters of financial companies usually have direct connections to nearby freeways or around the confluence of multiple mass transit routes. In finance, time is money and time wasted just getting to the office is inefficiency. Site locations become increasingly important as the size of the company gets bigger.

As as far as using Dan Gilbert's space, that's not very ideal either because if the company is growing, they need to flexibility of being able to grow within the same building while keeping the costs of being in the building low. If Chemical/TCF move into one of Gilbert's buildings, he could just jack up the rent every year TCF needed more floor space. Gilbert could also end up filling space in the rest of the building with other companies which would limit the size of a growing TCF and force them to move anyway. Of course, it all depends on what deal Gilbert would offer them and he has the advantage by owning the most ideal locations, but generally a growing regional company doesn't want a landlord.
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  #29  
Old Posted Jan 31, 2019, 9:16 PM
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Couldn’t they put some of the parking underground so that it doesn’t take up as many floors above ground, or is that not possible with this site? This would allow them to fit more workers there without having to substantially increase the height
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  #30  
Old Posted Jan 31, 2019, 9:26 PM
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Couldn’t they put some of the parking underground so that it doesn’t take up as many floors above ground? This would allow them to fit more workers in there without having to substantially increase the height
Most buildings usually do, but its gets more expensive the more floors there are underground. At most they probably could only have 1 or 2 floors underground. It's still a lot cheaper to build above ground parking.
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  #31  
Old Posted Feb 3, 2019, 3:07 PM
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The easiest solution for parking is to purchase a lot nearby and build a parking structure separate from the Chemical/TCF headquarters site. Since this is part of the fox town district maybe tcf will partner with Olympia who just loves building parking.
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  #32  
Old Posted Jun 21, 2019, 11:22 AM
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Chemical Bank to raze downtown Detroit building for new headquarters

https://www.freep.com/story/money/bu...ng/1512743001/
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Chemical Bank says it is preparing to tear down a 10-story 1950s office tower in downtown Detroit to make way for its new headquarters building.

Known as the Michigan Mutual Liability Annex, the tower is in the footprint of the bank's planned 20-story headquarters for 2047 Woodward. The now-empty office tower opened in 1951 and is unremarkable in appearance, aside from a decorative shield near its roof line with the Michigan Mutual Liberty Company logo.

Groundbreaking for the $104-million Chemical Bank headquarters will happen within the next 90 days,
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  #33  
Old Posted Sep 10, 2019, 4:36 PM
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https://detroitmi.gov/sites/detroitm...f%20Report.pdf

New renderings for the building are here. Looks like the height increases to 311ft. Still 20 floors with 10 for parking, ground floor retail, and 9 for office.
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  #34  
Old Posted Sep 10, 2019, 5:24 PM
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Any idea when construction will commence?
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  #35  
Old Posted Sep 10, 2019, 5:31 PM
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Any idea when construction will commence?
I would assume sometime soon. They have to demolish the existing building first, but they were planning on starting sometime this month last I heard.
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  #36  
Old Posted Sep 10, 2019, 5:46 PM
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Any idea when construction will commence?
I drove by on my lunch break today and there were some orange barriers put up around the site with West Elizabeth street partially blocked off and workers on site.
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  #37  
Old Posted Oct 2, 2019, 9:24 PM
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New rendering of the TCF Bank Headquarters:



I'm glad they took that hideous parking screen off the front of the building. The way they integrated the parking into the new design is much, much easier on the eyes, though I guess why they need so much parking to begin with. But that's a whole other critique.
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  #38  
Old Posted Oct 10, 2019, 5:58 PM
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  #39  
Old Posted Oct 11, 2019, 1:42 AM
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Nice find. This will be at least three tower cranes within a few blocks of each other in Woodward in the next few months.
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  #40  
Old Posted Oct 11, 2019, 2:08 AM
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Cool, if I need to borrow money to buy chemicals I’ll know where to turn
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