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  #1061  
Old Posted Jun 27, 2011, 12:17 PM
subterranean subterranean is offline
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LMich, you always beat me to it. You must not sleep at night.

Excited for the Whitney.
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  #1062  
Old Posted Jun 27, 2011, 7:21 PM
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Grand Circus Park looks like it's might become a big hot spot.
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  #1063  
Old Posted Jul 12, 2011, 11:26 AM
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http://www.crainsdetroit.com/article...ws-from-office

Quote:
Real estate wave signals healthier city: Momentum flows from office to retail

Originally Published: July 10, 2011
By Daniel Duggan

It started with two large office deals, then a few midsize and small office deals. Apartments started filling up, and retail projects are being planned.

The momentum for real estate deals in Detroit has been hard to miss during the first half of 2011, with close to 1 million square feet of office space in the process of being occupied.

The level of real estate activity has many optimistic about its future.

"Right now, the fundamentals of the Detroit office market are the health-iest they've been in my lifetime," said A.J. Weiner, a office broker with Jones Lang LaSalle who has worked in Detroit for 15 years.

"The CBD is reaping the benefits of a dramatic amount of absorption in a short period of time and is now seeing ripple effects from that."

...

The business decision to be in Detroit is one of the most encouraging signs right now, said George Jackson, president and CEO of the Detroit Economic Growth Corp.

"These are smart people making investments," he said. "People who've done well in business are coming in and making the business decision to be in Detroit. That tells you something."

The second-quarter research report on the city shows a 29.9 percent vacancy rate, according to Grubb & Ellis Co.

The firm's research report shows 112,000 square feet of positive absorption this year -- a real estate metric that shows how much new space is being used, minus the space that has been vacated.

"While we have yet to see the real impact on paper, there's almost a million square feet of space either occupied or accounted for that was vacant 12 months ago," Weiner said. "This much absorption is positively changing the competitive landscape in the CBD and, as a result, is limiting the uncertainty of the market, block-by-block, and that's making for stronger fundamentals in what has historically been one of the regions most challenged real estate environments."

...

Related to the office deals, many of the city's apartment buildings are near or at full capacity, with some reporting waiting lists.

A recent study by Midtown Detroit Inc. showed apartments in the Midtown neighborhood are at 94 percent occupancy.

That level of residential demand is fueling moves such as Austin, Texas-based Whole Foods Market Inc. to open a store in the city and Troy-based Somerset Collection to open a temporary retail collection in the city.

...

Last edited by animatedmartian; Jul 12, 2011 at 12:44 PM.
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  #1064  
Old Posted Jul 12, 2011, 11:36 AM
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There's some hard numbers here, too.

http://www.crainsdetroit.com/article...ws-from-office

Quote:
Building purchases by Dan Gilbert:
1. Madison Theatre Building: $1.4 million
2. Chase Tower: $16 million
3. Two Detroit Center parking deck: $10.5 million
4. First National Building: $8.1 million
5. Dime Building: $15 million

New developments under discussion or under construction:
6. David Whitney Building: Hotel and apartments, $3.3 million purchase price, $80 million project cost, awaiting financing
7. Broderick Tower: Apartments, $53 million, under construction
8. Somerset Collection CityLoft: 4,000 square feet of retail from Somerset Collection in Troy

Other projects include a Meijer store likely at the site of Redford High School, $25 million; a Meijer as part of the $90 million Gateway Park project; and a Whole Foods Market, price and location not disclosed.

Suburban companies opening Detroit offices:
9. Sachse Construction, Birmingham: 1,100 square feet, Guardian Building
10. Friedman Integrated Real Estate Solutions, Farmington Hills: 800 square feet, Penobscot Building
11. Brownrigg Cos., Auburn Hills: 1,000 square feet, 333 W. Fort St.

Suburban companies moving headquarters/substantial numbers of employees downtown:
12. Blue Cross Blue Shield (from Southfield) to Renaissance Center: Moved 300 employees, the rest of the 3,000 to move over the next year, taking 465,000 square feet
13. Quicken Loans Inc. (from Livonia): 240,000 square feet in the first wave, an additional 2,000 people; likely to take 140,000 square feet in Chase Tower
14. Skidmore Studio (from Royal Oak): 10,000 square feet in Madison Theatre Building
15. Jack Morton Worldwide (from Troy) to One Woodward Ave.: 6,000 square feet
16. Michigan Women's Foundation (from Grosse Pointe) to 333 W. Fort St.

Companies expanding in Detroit:
17. University of Phoenix: Leaving small presence in the Dime Building to take 20,000 square feet at 1001 Woodward Ave.

Additionally, Health Plan of Michigan is seeking another 25,000 square feet in the city.

Companies new to the region in Detroit:
18. Big Fuel: The New York advertising firm is opening a 7,000-square-foot office at 150 W. Jefferson Ave.
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  #1065  
Old Posted Jul 12, 2011, 10:02 PM
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Really love the positive trend that is happening in Detroit!!

You Go Motown!!!
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  #1066  
Old Posted Jul 17, 2011, 1:03 AM
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The Detroit Port Authority Public Dock and Terminal is finally completed.

KATHLEEN GALLIGAN/DFP















http://www.freep.com/apps/pbcs.dll/g...|img|FRONTPAGE

Last edited by animatedmartian; Jul 17, 2011 at 1:20 AM.
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  #1067  
Old Posted Jul 18, 2011, 5:01 AM
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DTE is latest to relocate downtown
July 16, 2011
By John Gallagher
Detroit Free Press Business Writer

DTE Energy is becoming the latest company to move suburban-based workers to downtown Detroit.

Joyce Hayes Giles, DTE Energy senior vice president for customer service, said Friday that DTE will transfer its Southfield-based customer service call center downtown in September. About 300 workers will make the move.

http://www.freep.com/article/2011071...ocate-downtown
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  #1068  
Old Posted Jul 18, 2011, 7:11 AM
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All the positive news coming in recently is so good to hear, it puts a smile on my face. The news about the Michigan Central Station is truly inspiring, and I have high hopes for the future of this city.

to Detroit!
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  #1069  
Old Posted Jul 19, 2011, 5:35 AM
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Broderick Construction Update July 18, 2011 from its facebook page.

http://www.facebook.com/media/set/?s...85268824854527






Quote:
Scrappers Delight. As of this week the buck hoist is operational so all of this can finally be removed. There are about 34 piles like this, one of each floor.

Quote:
Resident of 6C may never know this lies behind their wall.

Quote:
New sample window on the left, original window on the right.
Can't wait to see this completed.
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  #1070  
Old Posted Jul 19, 2011, 9:46 AM
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Nice! You can catch the renovation going on at the Madison Building, too, in that first picture.

The Terminal & Dock was formally opened, yesterday...

Quote:


Officials hope newly opened Detroit port helps revive waterfront


Tom Greenwood | The Detroit News

July 19, 2011

If you build it, they will cruise on in.

That's the hope behind the new $22 million Detroit/Wayne County Port Authority that officially opened Monday.

And in a bit of sea-going serendipity, the backdrop to the ceremony was the sleek, 184-foot-long boat Grand Mariner, which earlier stopped at the port as part of its Chicago-to-Toronto cruise.

"This is a huge milestone on our waterfront," said John Jamian, executive director of the Detroit/Wayne County Port Authority.

"Detroit started on the waterfront, and we're returning to the waterfront.

"There were so many cruise ships that docked here in the 1920s … we're returning full circle."

Jamian said so far, five boats have docked at the new terminal within the past few weeks, including the Pride of Baltimore II, which berthed at the dock last week.

...
I'm really pulling for the terminal. To be honest, though, if they want to assure that this doesn't become a white elephant, they'll really put effort into searching for an operator to start a Detroit-Windsor ferry. I really think that's something that could work, and give the terminal an anchor, pun not intended.
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  #1071  
Old Posted Jul 19, 2011, 10:15 PM
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That's kinda a funny looking boat to me.

As mentioned in an earlier news story, there are plans for a Mejier at the former Redford High School Site. Here's a site plan so far:

Parkguy





Area currently:
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  #1072  
Old Posted Jul 20, 2011, 1:04 AM
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Quote:
Dang, that's crazy. The Broderick is an all-steel structure so it warranted such oversized bracing back in the day.
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  #1073  
Old Posted Jul 20, 2011, 3:16 AM
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Quote:
Originally Posted by animatedmartian View Post
That's kinda a funny looking boat to me.

As mentioned in an earlier news story, there are plans for a Mejier at the former Redford High School Site. Here's a site plan so far:

Parkguy
I really do wish they'd front the store on Grand River, so you could walk in through the front, kind of like how the current school complex is. It wouldn't really change the function of the overall site plan because you'd still have entrances off the parking lot in the back (maybe even the main entrance), but it'd look better. I know that's not who these big boxes do things when they don't have to, but it'd be nice.
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  #1074  
Old Posted Jul 20, 2011, 12:59 PM
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Quote:
Originally Posted by LMich View Post
I really do wish they'd front the store on Grand River, so you could walk in through the front, kind of like how the current school complex is. It wouldn't really change the function of the overall site plan because you'd still have entrances off the parking lot in the back (maybe even the main entrance), but it'd look better. I know that's not who these big boxes do things when they don't have to, but it'd be nice.

Exactly. This kind of crap frustrates me to no end. But, we must recognize that position/approach of the loading docks is the most important access point for a store like this. It would be difficult for stores like this to accommodate both the volume of people and merchandise/trucks with a zero lot line without doing some creative site finagling and a building redesign. And in the mind of Meijer corporate, I'm sure the mindset is "this works, replicate it". Also, I'm wondering what restrictions the city has on minimum parking requirements, setback, curb cuts, etc.
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  #1075  
Old Posted Jul 25, 2011, 1:21 PM
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Lights are on at Broderick.

Detroiturbex

http://www.facebook.com/photo.php?fb...&type=1&ref=nf

I also saw the lights on at the Michigan Bell building. Unfortunately, I didn't take any pictures. I think there were some other buildings were being built across the street or remodeled or something. I was really caught by surprise going down this way.


http://www.obecc.com/bellbuilding.html

The Neighborhood Services Organization is renovating the place for homeless and low-income residents.

http://www.crainsdetroit.com/article...-for-homeless#
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  #1076  
Old Posted Jul 26, 2011, 3:52 AM
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Quote:
Originally Posted by animatedmartian View Post
Now that is an amazing sight to see, we've waited so long!
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  #1077  
Old Posted Jul 27, 2011, 9:49 PM
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Quote:
Whole Foods to set up shop in Detroit's Midtown

Louis Aguilar/ The Detroit News
Last Updated: July 27. 2011

Whole Foods Inc. plans to open a 20,000-square-foot market on the northwest corner of Mack Avenue and John R in Detroit's Midtown, the national grocer's first store in the city, the Austin, Texas-based national grocer said this afternoon.

The plan is to open the store in 2013 and create between 60 to 75 jobs, according to a statement by the Austin, Texas-based natural and organic food store chain. The planned store is much smaller than a regular suburban supermarket, but it will be a full-service store and one that reflects the company's goal of supporting quality local suppliers and organic agriculture.

...

The site for the store is a 1.92-acre property near the Detroit Medical Center, which is about to undergo a major expansion and add jobs.

Midtown, located just north of downtown, already has a growing affluent and educated population. The area has the city's highest rate of income per acre at $231,961, according to a 2010 study by Social Compact, a Washington, D.C., nonprofit that gathers data to help spark urban development. The study shows Midtown also has the highest average household income of new Detroit homebuyers at $113,788, followed by downtown at $111,509 and Indian Village at $111,200.

...

From The Detroit News: http://detnews.com/article/20110727/...#ixzz1TLNQ041M
The empty parcel of land here:

http://maps.google.com/?ll=42.348054...00618&t=h&z=18
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  #1078  
Old Posted Jul 28, 2011, 1:41 AM
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Quote:
Fitch moves Michigan bond outlook from stable to positive

Kathy Barks Hoffman
Associated Press/The Detroit News
July 27. 2011

Lansing— Fitch Ratings has revised its outlook for Michigan bonds from stable to positive today, reflecting what it calls "prudent budgeting" and a state economy that's beginning to slowly rebound.

The New York ratings agency left the state's overall bond rating unchanged at AA-, an investment-grade rating that's three steps below the top rating of AAA. But it said the state might see its rating improve if the economy continues to strengthen and the budget remains structurally balanced.

Gov. Rick Snyder has made it a top priority to improve the state's credit rating, including it as one of the items measured on his MiDashboard. The state lost its top AAA bond rating from Standard and Poor's in 2003, and years of bad economic news limited its ability to improve its ranking with any of the three major agencies that rate state debt. A higher rating would save the state money, making it cheaper for school districts to borrow for new buildings and for the state to borrow for new construction projects.
http://detnews.com/article/20110727/...le-to-positive

Congratulations Mr. Governor, maybe this will help get the bridge built!
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  #1079  
Old Posted Aug 15, 2011, 8:27 PM
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They've started to clean the facade on the Broderick.

Kramer Design group



http://www.facebook.com/photo.php?fb...4555881&type=1
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  #1080  
Old Posted Aug 16, 2011, 1:50 AM
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It boggles my mind how cities let beautiful architecture get so wasted. I appreciate the renovations but it shouldn't happen in the first place. Still, huge praise for this building's renovation!
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