2018 Downtown Detroit Development Update
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2018 DOWNTOWN DETROIT DEVELOPMENT UPDATE MACK MARTIN LUTHER KING JR. N Q I-75 BRUSH GRAND RIVER Little Caesars Arena TABLE OF CONTENTS FISHER FWY I-75 A B C CASS J Fox Theatre WOODWARD Comerica 4 5 6 6 7 CLIFFORD O Park The Fillmore Ford Introduction Development 139 Cadillac 220 West The 607 3RD Field Overview Square MGM Grand Casino ADAMS GRAND CIRCUS PARK D E F G H BEACON PARK G MADISON S K U 7 8 8 9 9 The 751/ 1515-1529 Church of City Club David Stott BAGLEY GRATIOT BROADWAY Marx Moda Woodward Scientology Apartments Building E CBD Detroit WOODWARD WASHINGTON T MICHIGAN AVE. P I-375 I J K L M STATE L Greektown CAPITOL PARK N Casino Hotel 3RD GRATIOT 10 10 11 11 12 1ST Westin BRUSH Detroit Free Detroit Life Element Detroit at The Farwell Gabriel Houze Greektown Press Building Building the Metropolitan Building R Casino M H Building D MONROE LAFAYETTE BEAUBIEN W LAFAYETTE CAMPUS MARTIUS PARK N O P Q R I A W FORT CADILLAC SQUARE 12 13 13 14 14 CONGRESS B THE WOODWARD Hudson’s Little Caesars Louis Kamper and Mike Ilitch One Campus ESPLANADE RANDOLPH Block and Tower World Headquarters Stevens Buildings School of Business Martius Expansion M-10 W CONGRESS C Campus Expansion LARNED W LARNED JEFFERSON SPIRIT PLAZA JEFFERSON S T U Cobo F Center 15 15 15 16-19 20-21 Philip Shinola Siren Special Feature: Public Infrastructure HART Renaissance Capitol Park Projects PLAZA Center Houze Hotel Hotel About The 2018 Development Update 22-23 24 Featured Building Developments Pipeline Methodology Development Project: MoGo Station Developments New Construction and Major Renovation Other Downtown Developments QLINE Park/Public Space The District Detroit Business Improvement Zone (BIZ) Area Bike Lane TOTAL FLOOR AREA TOTAL DOLLARS INVESTED BEING DEVELOPED IN PROJECTS IN REPORT 3,548,988 $1.54 billion square-feet invested $1.179 billion 1,815,000 sq. ft. 1,255,988 sq. ft. $245.4 million 310,000 sq. ft. 168,000 sq. ft. $56.8 million $59 million Square-feet Dollars n the midst of a transformational building Office Residential Hospitality Institutional I boom, Detroit is a rapidly-changing, dynamic city and a hotspot for new development. RESIDENTIAL STATISTICS CURRENT PROJECTS The 2018 Downtown Development Update,published by the Downtown Detroit Partnership (DDP) with support from the Downtown Detroit Business Improvement Zone (BIZ), features recently-completed projects in the city’s core, as well as those currently under construction. In addition, DDP is providing an overview of 1,0 41 175 21 future projects – those that are in the pipeline for the next phase of Detroit’s phenomenal growth. total residential units affordable total current developments (Completed in 2018 or currently housing units under construction) Public, private and philanthropic partnerships continue to drive Detroit’s growth – and the pace of (Reported) development is propelling the city’s economic revitalization. PIPELINE STATISTICS Throughout Downtown, 2018 marked a move toward a more pedestrian-friendly environment, as evidenced by key projects, including the emergence of protected bike lanes. Downtown Detroit’s parks and public 119 % 894 spaces also offered new seating options, improved landscaping, implementation of a comprehensive additional residential residential units 24 projects in the pipeline recycling program, and many more amenities. units projected completed this year between 2017-2022* (Projected) Campus Martius Park celebrated its 15th anniversary this year, which is a major milestone. In recognition, Edsel B. Ford II gifted a new plaza within the park. An iconic glass and marble landmark now designates the 2,375 exact “point of origin” at which Judge Augustus B. Woodward mapped out the city. *Includes Brewster-Douglass development estimated number adjacent to Downtown boundary of residential units in the pipeline The Development Update is not intended to be an exhaustive project list, but an exciting snapshot of both recent, and soon-to-be, developments. 4 5 45 apartment units 50,000 square-feet of office space 139 CADILLAC ■■■■■ADDRESS ■■■■■DOLLARS INVESTED ■■■■■ADDRESS ■■■■■SOURCES OF 139 Cadillac $9 million 607 Shelby Street FINANCING Brownfield Tax SQUARE Square THE 607 Credit, Michigan ■■■■■SOURCES OF ■■■■■DEVELOPER FINANCING Commercial ■■■■■DEVELOPER Basco Detroit Construction loan, Rehabilitation 139 Cadillac Square, formerly known as The Lawyers Ferlito Group The 607 is a historic office building in the heart of Downtown Building was built in 1922, is the only remaining high- private resources Detroit. A block away from Cobo Hall and two blocks Program (CRP), and Tringale ■■■■■PRIMARY BUILDING USE commercial bank rise in Detroit constructed in the Chicago School style of Development from Woodward, this development has easy access to all architecture. Originally intended as an office building for lawyers ■■■■■COMPLETION DATE major freeways. The 50,000-square-foot building is being Office loan, private December 2018 who practiced in the Wayne County Building, the 45 apartments ■■■■■PRIMARY repositioned as a boutique mid-rise mixed-use development ■■■■■ ■■■■■ reflect a $9 million historic renovation. BUILDING USE with modern amenities, and open, loft-like floor plans. DOLLARS COMPLETION DATE INVESTED Residential January 2018 (Source: Ferlito Group) (Source: Basco Detroit) $6 million 36,500 square-feet THE 751/ of office space MARX MODA The 751, formerly the Olde Building, sits on the corner of Lafayette Boulevard and Griswold Street overlooking Campus Martius Park, and serves as the headquarters of Marx Moda. This historic building was designed by famed Detroit architect Albert Kahn. The renovation included extensive cosmetic restoration, such as updated plaster and repair to main floor ceiling, the mezzanine, lower level vaults, and executive boardrooms. 220 WEST (Source: Basco Detroit) 220 West, a five-story building in Detroit’s Financial District, spent its earlier years as a glove factory. Today, ■■■■■ADDRESS ■■■■■DOLLARS INVESTED ■■■■■ADDRESS ■■■■■DOLLARS INVESTED the 36,500-square-feet building boasts a redesign of 220 West $4 million 751 Griswold Street $7 million Congress Street the 1970s façade, including a new walkable green alley ■■■■■SOURCES OF and retail spanning the side with store-front windows. ■■■■■DEVELOPER ■■■■■SOURCES OF FINANCING ■■■■■ FINANCING Floors two through five will serve as creative office lofts DEVELOPER Basco Detroit Historic Tax Credits, Obsolete Undisclosed with exposed brick walls and wooden rafters creating a Basco Detroit Property Rehabilitation Act (OPRA), modern feel. The building incorporates green features ■■■■■PRIMARY CRP, commercial bank loan, private ■■■■■COMPLETION DATE ■■■■■PRIMARY throughout. $7M BUILDING USE BUILDING USE January 2019 invested Office ■■■■■ Office (Sources: Basco Detroit, Crain’s Detroit Business, City of Detroit) COMPLETION DATE March 2018 6 7 288 74,500 apartment square-feet units 1515-1529 of office space WOODWARD LinkedIn will be opening its first new office in the United States in ten years to Downtown Detroit, the historic Sanders Building. This building years ago, located on Woodward Avenue at Gratiot, ■■■■■ADDRESS housed the famous Sanders chocolate and candy store. In 2016, 313 Park Avenue Dan Gilbert bought the building and the 74,500-square-foot space CITY CLUB ■■■■■ is being renovated to house 120 employees for LinkedIn. DEVELOPER City Club Apartments (Sources: Bedrock, Crain’s Detroit Business, Detroit Free Press) APARTMENTS ■■■■■PRIMARY BUILDING USE CBD DETROIT Residential ■■■■■DOLLARS INVESTED ■■■■■ADDRESS ■■■■■DOLLARS INVESTED Built on the site of the historic Statler Hotel, City Club $78.8 million 1515-1529 Undisclosed Apartments CBD Detroit is the first ground-up, mixed-use, Woodward Avenue conventionally financed high-rise under construction in ■■■■■ ■■■■■ SOURCES OF FINANCING SOURCES OF FINANCING Detroit’s central business district in the last 30 years. The Huntington Bank, Bank of Ann Arbor, Comerica ■■■■■DEVELOPER Undisclosed hotel, built in 1915, hosted top business, sports, arts and Bank, Public-private partnership with Detroit Bedrock entertainment, and political guests for six decades. The Economic Growth Council, CRP, Qualified ■■■■■COMPLETION DATE development offers studio, convertible, one-, two- and Downtown Revitalization District, Commercial ■■■■■PRIMARY November 2018 BUILDING USE three-bedroom apartments, townhomes and penthouses Rehabilitation District, Neighborhood Enterprise Office with private rooftop terraces with five-star amenities. City Zone, Brownfield Tax Credit with MDEQ and EPA Club Apartments Detroit will also house over 12,000-square- feet of retail. ■■■■■COMPLETION DATE Summer 2019 (Sources: City Club Apartments LLC) CHURCH OF 50,000 square-feet 38 SCIENTOLOGY stories of of development DAVID STOTT development The former Standard Savings and Loan is undergoing renovation and BUILDING will become the 50,000-square-foot Church of Scientology. This historic site at the corner of Jefferson and Griswold is the spot where the city of The David Stott Building is a rare example of pre-Depression, Art Deco Detroit was founded by French explorer Antoine de la Mothe Cadillac architecture. It is one of the most recognizable buildings in Downtown and where the first St. Anne’s Church was built in 1701. and is within walking distance of Capitol Park, Grand Circus Park and (Sources: Crain’s Detroit Business, City of Detroit) Campus Martius Park. This 38-story landmark houses both residential and commercial tenants, as well as ground floor retail. (Sources: