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LID Cover.Qxp 8/15/2012 4:01 PM Page 1 LID cover.qxp 8/15/2012 4:01 PM Page 1 ® Vol. 28. No. 35 Fall 2012 www.crainsdetroit.com Public and private money transform industrial sites, Page 3 Relyin’ on the river: Business stories, Pages 17-20 $1.3 billion in investment, Foldout map inside $3.00 25 0 74470 87123 1 CDB Living In The D.qxp 8/7/2012 2:54 PM Page 1 20120820-B--0001-NAT-CCI-CD_-- 8/16/2012 11:59 AM Page 1 About this issue Editor: DETROIT’S RIVERFRONT REVIVAL Daniel Duggan, or Crain’s seventh annual Now we see the Renaissance Center Crain’s reporters Nancy Kaffer deputy managing supplement on investment bursting at the seams with 96 percent and Sherri Welch tell of the river- editor, Crain’s and residential development occupancy, new tenants at Stroh River front’s shift from industrial zone to Detroit F in Detroit, the focus is the De- Place and a successful redevelopment community center, as well as hopes Business troit River and the more than $1.3 bil- story at the Detroit Elevator Building. for the future (Pages 3-6). Design: lion in development and investments The Rivertown area between the Re- The riverfront revival is a story of Jeff Johnston, identified from the past 10 years. naissance Center and Belle Isle embod- public money, private money and col- senior The river long served as the high- ies the ups and downs of the area, as lective interest pushing projects over designer, Crain’s Detroit way to ship raw materials into De- Constance Crump reports (Page 7). the goal line, along with stories about Business troit and move finished goods out. Legislative changes could boost senior housing, wildlife refuges, Wind- Copy editors: From its manufacturing past, the the Port Authority, which already sor’s riverfront and even a closer look Gary Piatek, riverfront took a long slide before it represents $1.5 billion in economic at the islands of the Detroit River. senior editor; was to become the new casino dis- activity, Bill Shea notes (Page 11). Jeff Johnston, trict. That failed to pan out, but a All sorts of businesses still depend Tracy Balazy new era of riverfront living began af- on the river, as Gary Anglebrandt and Ed Bradley, ter Super Bowl XL in 2006. finds (Pages 17-20). — Daniel Duggan, deputy managing editor Crain’s Detroit Business Research for the foldout CRAINSDETROIT.COM/LIVINGD map: Michelle Muñoz, Check out more “Living and Investing special to CONTENTS 11 in the D” features online. Crain’s Detroit For instance, photos on Business From vision to action Detroit’s port pages 3 and 4 are part of Cover photo: How the riverfront became and its impact a “Then and Now” series John Sobczak a destination comparing older photos to 3 current views along the CRAIN’S DETROIT BUSINESS ISSN # Detroit River. 0882-1992 is The next It was an idea developed by Crain’s published weekly, A place for except for a special steps senior designer Jeff Johnston and shot issue the third seniors by Andrew Templeton. week of August, for the and no issue the 5 13 on the river See the rest of the photos in an online third week of gallery, along with interactive riverfront December by Crain Detroit RiverWalk Communications maps, in the expanded online Inc. at 1155 Gratiot presentation of this issue at Ave., Detroit MI 48207-2732. Highlighting the impact www.crainsdetroit.com/livingd. Periodicals postage paid at Detroit, MI A study will document river and additional mailing offices. investment POSTMASTER: 6 Wildlife refuges Send address changes to CRAIN’S Industrial land gives way DETROIT Ups and to natural beauty BUSINESS, 15 Circulation downs in Department, P.O. Box 07925, Detroit, 7 Rivertown Life on the water MI 48207-9732. GST # 136760444. Businesses that rely on Printed in U.S.A. Interact with the people who are the Detroit River Entire contents “living in the D” at the Crain’s House copyright 2012 by 17 Crain Party event Sept. 20, starting at 5:30 Communications Big events p.m. More than 1,000 guests will Inc. All rights reserved. attend parties hosted at 25 homes Reproduction or on the river across Detroit. Afterward, they’ll use of editorial attend an afterglow party at the content in any 21 manner without Roostertail on Detroit’s riverfront. permission is Sponsors include the Michigan strictly prohibited. Islands Views of of the the river State Housing Development River views Authority and Quicken Loans Inc. Crain’s Along the 22 Detroit 24 For more information on how to The other riverfront bottom of these River reader register, or to see the homes pages you’ll find Windsor’s inspiration to Detroit photo featured, go to www.crainsdetroit more than 100 contest .com/events or call (313) 446-0300. photos tied to 9 the Detroit River, submitted by Crain’s readers as part of a photo contest. Winners are on Page 24, and a gallery is at crainsdetroit.com /livingd. CRAIN’S DETROIT BUSINESS FALL 2012 Page 1 FALL 2006 CDB Living In The D.qxp 8/6/2012 4:25 PM Page 1 20120820-B--0003-NAT-CCI-CD_-- 8/16/2012 11:18 AM Page 1 Living and Investing in the D The Detroit RiverWalk stretches toward Rivard Plaza’s canopies and the Renaissance Center, a far cry from the scrap metal and concrete that once filled the area. A photo from back then, courtesy of the Detroit RiverFront Conservancy, highlights the differences. See similar “then and now” views at crainsdetroit.com/livingd. ANDREW TEMPLETON From vision to action GM, Kresge get ball rolling to transform riverfront You couldn’t walk BY NANCY KAFFER “There were two or three things we said we were CRAIN’S DETROIT BUSINESS going to do: make it a world-class global headquar- from the ters and open it up to the water and the city,” said ifteen years ago, the Detroit riverfront was- Matt Cullen, Detroit RiverFront Con- Renaissance n’t a destination for anyone. For much of the servancy chairman and Rock Ven- city’s history, the riverfront had been occu- tures COO who was then head of Center to the F pied by industry, a trio of cement silos real estate for GM. among its key landmarks. The RenCen, he said, “had big, water. What is it, Now, it’s easy to look at Detroit’s riverfront and ugly berms in front. There was no see a transformation. Wintergarden, and you couldn’t 50 yards? Projects such as Rivard Plaza, Chene Park and the walk from the Renaissance Center Dequindre Cut point to a riverfront bustling with to the water. What is it, 50 yards?” Matt Cullen, life. Getting to that point took private investment, The streets around the RenCen public investment and a plan. were broken, dotted with aban- Detroit RiverFront Everyone seemed to agree that something should Cullen doned cars, Cullen said. Conservancy happen. But when it came to what and how, it was GM was willing to put cash into the riverfront, hard to reach consensus. Attempts were made in the adding about $25 million to its Renaissance Center 1990s when the city began to acquire land for a down- development efforts. And when the Troy-based Kres- town riverfront casino district. But that plan went ge Foundation expressed interest in making a dona- nowhere, leaving the riverfront, as usual, in limbo. tion for a transformational project in the city of De- All that started to change in 1996, when General Motors Corp. bought the Renaissance Center. See Page 4 Readers’ river views | Gallery at crainsdetroit.com/livingd CRAIN’S DETROIT BUSINESS FALL 2012 Page 3 FALL 2006 20120820-B--0004-NAT-CCI-CD_-- 8/16/2012 11:19 AM Page 1 Living and Investing in the D From Page 3 donate land to us by way of a conser- vation easement,” Nelson said. troit, Cullen pitched the riverfront. Assembling land and finding the It was the right time to act, Cullen funds to carry out projects wasn’t said. the conservancy’s only job, Nelson The administration of former De- said. “The other component we had troit Mayor Kwame Kilpatrick had was raising dollars,” she said. “We just rejected the city’s plan to build had to raise dollars to ensure we waterfront casinos, but the land the could continue to take care of what city had acquired was still available. we develop, what we build.” “I said: ‘Look, if we move right Raising funds and completing now, we have a moment in time construction projects on a formerly where we can transform the river- industrial riverfront has been chal- front,” Cullen said. “If we don’t do lenging, Cullen said. Getting the this right now, all this property is go- ANDREW TEMPLETON project off the ground was an even ing to get sold off, and people will The old cement silos along the river (handheld photo) were costly bigger challenge. build something right up to the wa- to remove, but they were considered the most important former Still, he said, the mutual excite- ter’s edge. If we as a community don’t industrial elements to eliminate. ment over developing the riverfront do this, we’re not getting the opportu- made it possible. nity again.” Conservancy leaders visited waterfronts And though the process is far from over, Then-Kresge CEO John Marshall agreed, around the world to learn best practices. Cullen said, the project has altered not just and the foundation gave a $50 million chal- The conservancy held community meet- lenge grant to the project — the largest sin- ings.
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