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2019 Downtown Detroit Development Update St 2019 DOWNTOWN DETROIT DEVELOPMENT UPDATE ST. ANTOINE TEMPLE 4TH H ALFRED E BEAUBIEN G H SPROAT LEDYARD BRUSH ADELAIDE PARK Little Caesars JOHN R. Arena WOODWARD WINDER 2ND HENRY GRAND RIVER CLIFFORD Table of Contents I-75 FISHER SERVICE DRIVE I-75 K MONTCALM Recently Completed Pipeline Fox WITHERELL COLUMBIA Theatre I-375 6 Developments 20 Developments BRUSH D COLUMBIA Comerica PLUM L Park 139 Cadillac Square (A) 511 Woodward (A) CASS 7 21 Ford Field 751/ Marx Moda (B) Broadway Lofts (B) ELIZABETH PARK M 3RD ELIZABETH MGM J ADAMS 8 1515-1529 Woodward (C) 22 Detroit Police Department Headquarters (C) Grand B Casino Grand Church of Scientology (D) Gateway Center Building Redevelopment (D) BEECH Circus Park Beacon David Stott Building (E) Harmonie Club Hotel (E) Park 9 23 PLAZA BAGLEY GRAND RIVER D MADISON Element Detroit at the Harvard Centre Square (F) 1ST RANDOLPH I CENTRE Metropolitan Building (F) H CLIFFORD E 24 Hastings Place (G) BAGLEY C JOHN R. F BROADWAY G 10 The Farwell Building (G) Leland House Historic Renovations (H) O Mike Ilitch School of Business (H) E Monroe Blocks (I) J L GRATIOT CLINTON 25 MICHIGAN M F J ST. ANTOINE GRISWOLD CASS B RIVER B 11 Philip Houze (I) Park Avenue Building (J) GRAND BEAUBIEN M WOODWARD C 3RD WASHINGTON STATE G MACOMB Shinola Hotel (J) 26 Park Avenue Tapestry Hotel (K) K BRUSH I Randolph Centre Building (L) D A MONROE CHRYSLER SERVICE DRIVE 1ST TCF Bank Headquarters (M) J E RANDOLPH Greektown 27 SHELBY Current Casino HOWARD P MONROEI Other Future Pipeline Developments FARMER 12 Developments I LAFAYETTE I C GRISWOLD B Campus W. LAFAYETTE 220 West (A) F Martius 13 WASHINGTON Moving Park 3RD Book Building and Tower (B) BRUSH 28 Cadillac A Forward Together Square BATES W. FORT 14 Cambria Hotel (C) Special The Greektown Neighborhood Woodward 2ND Esplanade CONGRESS Feature A City Club Apartments CBD Detroit (D) Framework Vision F W. CONGRESS BEAUBIEN City Modern (E) N A LARNED 15 Detroit Free Press Building (F) W. LARNED M-10 C JEFFERSON 16 DMC Sports Medicine Institute (G) D I-375 34 Other Investments JEFFERSON Eddystone (H) TCF Center WOODBRIDGE ST. ANTOINE Fowler Building (I) 35 COMMUNITY SPACES Capitol Park Update (A) FRANKLIN 17 Gabriel Houze (J) Hart Plaza GM Adams Streetscape Improvement (B) Renaissance Hudson’s Block and Tower (K) Center Spirit Plaza (C) 18 Little Caesars World Headquarters (L) ATWATER Louis Kamper and Stevens Buildings (M) 36 ALLEYS: PEDESTRIAN-FRIENDLY PUBLIC SPACES Marquette Building (N) Columbia Street (D) 19 Michigan Central Station (O) QLine Route Parker’s Alley (E) Greektown One Campus Martius Expansion (P) 37 and Station 220 West (F) Recently Pipeline Completed Developments People Mover Park/Public Space 37 PUBLIC INFRASTRUCTURE PROJECTS Developments Route and Station Business Improvement MoGo Zone (BIZ) Bike Station Current Other Investments Developments TOTAL FLOOR AREA n the midst of a 4,953,813 square feet being developed I transformational building boom, Detroit is a rapidly- changing, dynamic city and a Residential hotspot for new development. Office Institutional This Development Update report is published by the Downtown Detroit Partnership (DDP) Hospitality* with support from the Downtown Detroit Business Improvement Zone (BIZ). The report 127,000 sq. ft. features recently completed projects in the city’s 150,000 sq. ft. 3,142,060 sq. ft. central core, as well as those currently under 1,534,753 sq. ft. construction. DDP is also featuring an overview of future projects that are in the pipeline for the TOTAL INVESTMENT* next phase of Detroit’s phenomenal growth. Public, private and philanthropic partnerships $2,121,300,000 continue to drive Detroit’s growth and the pace invested in projects under of development. This structure is propelling the construction or finished this year city’s economic revitalization at a development pace that is transformative yet sustainable. Residential Throughout Downtown, the year 2019 marked a move toward a more pedestrian-friendly Office environment, as evidenced by the emergence of several new alleyway developments. Downtown Institutional Detroit’s parks and public spaces, programmed and managed by DDP, offer new seating Hospitality options, improved landscaping, implementation of a comprehensive recycling program and many $71,000,000 358,000,000 more amenities. $421,300,000 $1,271,000,000 The Downtown Detroit Business Improvement Zone celebrated its five year anniversary. This RESIDENTIAL STATISTICS major milestone was celebrated in Campus Martius Park. The BIZ was established in 2014 and has since supported a clean, safe 1,551 2,257 and vibrant Downtown for property owners, residential units in estimated number of residential current projects units across 10 projects* businesses, residents and employees. *The Development Update is not intended to be an exhaustive 5,590 project list, but an exciting snapshot of both recent, and soon- Downtown residential units to-be, developments. (including the number under construction this year) *Projected numbers are subject to change. Some project details are unknown and excluded from the total. 4 5 MIXED-USE RESIDENTIAL 139 Cadillac Square 139 Cadillac Square Formerly known as the Lawyers Building, the recently rehabilitated 10-stories of 139 Cadillac Square was built in the early 1920’s, previously serving as offices for lawyers frequenting the Old Wayne County Building across the street. A $9 million historic renovation in 2017 turned the structure into a 45-unit apartment building with a Chicago School style of architecture. COMPLETED DOLLARS INVESTED August 2019 $13.5 million DEVELOPER SOURCES OF FINANCING Ferlito Group and Construction loan, Historic Tringale Development Tax Credits, private resources Source: Ferlito Group RECENTLY COMPLETED DEVELOPMENTS OFFICE The 751/ Marx Moda 751 Griswold Street Originally known as the Olde Building, the 751 was designed for Detroit’s First State Bank in 1924 by architect Albert Kahn. In April 2018, Marx Moda, an officer designer and furniture dealer, opened its official headquarters in The 751, which is in Detroit’s Financial District. The design of the building was a collaborative process that resulted in office spaces. The interior renovation pays homage to the past, while creating an efficient, forward-thinking spaces for the future. COMPLETED SOURCES OF FINANCING March 2018 Historic Tax Credits, Obsolete Property Rehabilitation Act (OPRA), Michigan DEVELOPER Economic Development Corporation’s Basco Detroit Community Revitalization Program DOLLARS (CRP) commercial bank loan, private INVESTED resources $7 million Sources: Basco Detroit and Gensler 6 7 OFFICE RESIDENTIAL 1515-1529 David Stott Woodward 1515-1529 Woodward Avenue Building 1150 Griswold Street In 2016, Bedrock acquired two mid-rise buildings located at 1515-1529 Woodward The historic David Stott Building Avenue, originally designed by the renowned was constructed in 1929, resembling Detroit architect Albert Kahn. The two architecture from the pre-depression era. properties contain approximately 114,000 Located in the heart of Capitol Park, the square feet, including frontage on Woodward building is near an ever-increasing variety Avenue designated for first-floor retail space. of shops, restaurants and attractions. In April of 2019, LinkedIn opened its first new This 38-story landmark building houses U.S. office in 10 years for its 50 employees at residents and community amenities, with 1515 Woodward, which is also known as the commercial tenants and ground-floor retail historic Sanders Building. coming soon. COMPLETED COMPLETED November 2018 September 2018 DEVELOPER DEVELOPER Bedrock Bedrock DOLLARS INVESTED DOLLARS INVESTED Undisclosed Undisclosed SOURCES OF FINANCING SOURCES OF FINANCING Undisclosed Undisclosed Sources: Bedrock, Crain’s Detroit Business, Sources: Bedrock and The Detroit News and Detroit Free Press HOSPITALITY INSTITUTIONAL Element Detroit Church of at the Metropolitan Scientology One Griswold Street Building 33 John R Street The Los Angeles-based church recently redeveloped the former Standard After a $33 million redevelopment of the 93-year-old Savings and Loan building at Jefferson Metropolitan Building, this space now houses Michigan’s Avenue and Griswold Street across first “nature-inspired” Element hotel. The team behind from Hart Plaza. This site is the spot the renewal is a joint venture between The Roxbury where French explorer Antoine de la Group and The Means Group Inc. Complete with 110 Mothe Cadillac founded the City of hotel rooms, conference space and a rooftop bar, the Detroit, and where the first St. Anne’s Element is focused on sustainability and environmentally Church was built in 1701. friendly design including artwork made from repurposed materials, eco-conscious products and free-to-rent COMPLETED bicycles for guests. October 2018 SOURCES OF DEVELOPER COMPLETED FINANCING Church of Scientology January 2019 Huntington Bank, DMI and Invest Detroit, tax DOLLARS INVESTED DEVELOPER credit equity by Insite $8 million Metropolitan Hotel Partners - Means Group and Roxbury Capital and support SOURCES OF FINANCING Group from Michigan Strategic Undisclosed Fund DOLLARS INVESTED Sources: Crain’s Detroit Business and City of Detroit $33 million Sources: Roxbury Group and Crain’s Detroit Business 8 9 RESIDENTIAL The Farwell RESIDENTIAL Philip Houze Building 415 Clifford Street 1249 Griswold Street Formerly known as the historic Rockwell- Nestled in the historic Capitol Park Standard Building, the Philip Houze is at the neighborhood, the Farwell
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