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Quiet. Quaint. Quirky. Living in the V. Real Estate Open House, Sunday, September 30, 2007

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Quiet. Quaint. Quirky. Living in the V. Real Estate Open House, Sunday, September 30, 2007 CDBmagazine.qxp 8/1/2007 9:17 AM Page 1 Quiet. Quaint. Quirky. Living in the V. Real Estate Open House, Sunday, September 30, 2007 The Villages are a unique collection of Detroit east riverfront communities – each with Neighborhood Features: authentic personality and charm. This includes historic neighborhoods, high-rise condos, edgy lofts, and new construction homes. If you’re looking for a diverse, walkable, urban • Adjacent to Belle Isle and the neighborhood, discover the Villages. Housing prices range from less than $100,000 to Detroit Riverwalk more than a million, making living here an ideal option for nearly everyone. • Strong neighborhood associations • Community gardens and Living in the V! Open House garden clubs WHERE: Parkstone Apartments, 1415 Parker, Detroit, Michigan 48214 • Minutes from downtown and WHEN: Sunday, September 30, 2007, 1 p.m. to 5 p.m. Detroit’s cultural gems WHAT: Neighborhood presentations every half hour • Diverse educational options Realtor’s open house of properties for sale • Recreation opportunities, including rowing, tennis and For more information, call (313) 438-4143 or visit www.TheVillagesofDetroit.com. yacht clubs Sponsored by: Church of Messiah Housing Corporation, Indian Village Association, English Village Brownstones and Lofts, Detroit Towers, Henry Ford Health System, St. John’s Hospital, Riverfront East Alliance, Friends School Detroit. Organized by the Villages Community Development Corporation, representing Bellevue Village, Berry Subdivision, Detroit Towers, East Village, English Village Brownstones and Lofts, Indian Village, Indian Village Manor, Islandview Village, Shoreline East, and West Village DETROIT BUSINESS MAIN 08-13-07 B 30 CDB 8/6/2007 4:54 PM Page 1 Living & Investing Quirky rehabs ■ From Page 28 EXPLORE WITH LISC AND ITS PARTNERS The renovation of the Crofoot Building was funded in part by a Cool Cities grant and the investment opportunities that await you in Detroit neighborhoods brownfield tax credits. velopers in the 1800s. Instead of a hub for law and real estate offices or general and specialty stores, McGowan has revamped the space into a music and dining venue. The two-story, 20,000-square-foot struc- ture at Pike and Saginaw streets is sched- uled to open this month. It includes The Cro- foot Ballroom, a live concert hall and nightclub; The Pike Room, a nightclub for smaller bands; and Crofoot Café and Vernor’s Grille, both bar/restaurants. Through Neighborhoods NOW, “Oakland County needs a playground, LISC is collaborating with over 65 community organizations, and the people of Oakland County appreci- ate going into an older city with quaint making investments in $320M of housing and retail development, buildings. If we had built this complex with an eye to the future and the city’s great potential. from scratch in the suburbs, it would have cost much more than the $3 million we put into this project,” said McGowan, who ren- Call us or visit www.lisc.org/detroit ovated Detroit’s St. Andrews Hall in the late 1970s. to see the Investment Prospectus for Built in 1830, the Crofoot Building was CENTRAL WOODWARD,EASTSIDE, rebuilt in 1852 by Michael E. Crofoot, an Oakland County attorney and probate NORTHEAST,NORTHWEST, judge. The New Crofoot Building, as it was called at the time, included a full SOUTHWEST Detroit, and basement and first and second floors. A and each community’s plans and third floor at the front of the building was burned away in a 1950 fire. In addition to comprehensive investment strategies. his law office, the building housed other businesses. There’s never been a better time to invest in Detroit. Though McGowan had to gut the build- ing, he restored as much of the original materials as possible. Now exposed brick, old wood, marble and glass set the stage for an inviting atmosphere. McGowan also built “green” by recycling block, brick and old timber, and installing a white roof. Local Initiatives Support Corporation ON THE WEB 660 Woodward Avenue, Suite 1111 Read about what’s been dubbed Detroit, MI 48226 “automobile row” in Midtown, a collection 313-596-8222 of buildings with automotive history that www.lisc.org/detroit have made way for lofts, commercial space and museums. See our Web Extra coverage at crainsdetroit.com. Page 30 FALL 2006 FALL 2007 CRAIN’S DETROIT BUSINESS CDBmagazine.qxp 8/1/2007 6:01 PM Page 1 150 Years Deserves a Little Noise! Since 1857, Northwestern Mutual has quietly focused on one ambition—to do the right thing for the people who put their trust in us. Pardon us if we celebrate our anniversary a little less quietly. The Wilshire Financial Group Brad P. Seitzinger, CLU, ChFC Managing Partner 901 Wilshire Drive, Suite 300 Troy, MI 48084 (248) 362-2220 [email protected] For Career Opportunities, please contact Marcy Tucker at (248) 244-6023 or log on to www.nmfn.com/wfg 05-2741 ©2007 Northwestern Mutual. Northwestern Mutual Financial Network is the marketing name for the sales and distribution arm of The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM), and its subsidiaries and affiliates, and “the quiet company” is a registered trademark. Brad Seitzinger is a General Agent of NM (life insurance, annuities and disability income insurance). Registered Representa- tive of Northwestern Mutual Investment Services, LLC, a wholly-owned company of NM, broker-dealer and member NASD and SIPC. NM and The Wilshire Financial Group are not broker-dealers. 7032-541 DETROIT BUSINESS MAIN 08-13-07 B 32 CDB 8/6/2007 3:00 PM Page 1 Living & Investing D inthe Restorations Focused efforts, big results BY MICHELLE MARTIN field-based Jonna Cos. focused on 100 percent occupancy rate. Lofts find SPECIAL TO CRAIN’S DETROIT BUSINESS one of the New Center’s longtime Like the Garfield project, The strengths: the rental market. Lofts at New Amsterdam faced a he Lofts at New Amsterdam, And with the help of the New number of challenges — including success nestled in the New Center Center Council, $4.8 million in fed- longtime vacancy and neglect. For- T among technology start- eral loans and $450,000 in grants, merly known as the Graphic Arts with rental ups and the university communi- Jonna teamed with Detroit-based Building, the structure on Bur- ty, found a niche within an other- Zachary and Associates to develop wise turbulent housing market. the 52,000-square-foot Lofts at See Page 35 market When other developers were New Amsterdam. converting lofts for sale, South- The partnership made sense. Zachary and Associates already had found success in the rental market; the company converted the once-run down Garfield Build- ing on Woodward into rental units. The Lofts at Garfield, in the city’s Midtown, currently has a Converting the former Graphic Arts Building (far left) at the New Center into the Lofts at New Amsterdam was not without its challenges. Water seeped into the interior (left) before the building was restored (above). The project was a recipient of the annual Governor’s Awards for Historic Preservation. BY MICHELLE MARTIN House SPECIAL TO CRAIN’S DETROIT BUSINESS arl William Swanson’s a DIY 1907 Queen Anne home C was renovated with lots of elbow grease, plenty of ingenuity dream and a little Hol- lywood flair. Swanson come true bought the 1,800- square-foot his- toric home at 1754 Parker in Detroit’s West Village in 2004. “The place was a mess,” said Swanson, Carl William Swanson’s who undertook home was “a mess” before he took on the task of the project with his wife, Vittoria renovating it in 2004. His Katanski. “There was sewage in efforts were recognized the basement, the roof was falling with one of the 2007 in. There was old wiring, old Governor’s Awards for plumbing, the toilet was falling Historic Preservation. See Page 36 Page 32 FALL 2006 FALL 2007 CRAIN’S DETROIT BUSINESS CDBmagazine.qxp 8/2/2007 11:33 AM Page 1 CDBmagazine.qxp 7/31/2007 1:04 PM Page 1 BUILDINGBUILDING AA NEWNEW DOWNTOWNDOWNTOWN DETROITDETROIT REQUIRESREQUIRES AA STRONGSTRONG FOUNDATION.FOUNDATION. For twenty years, The Detroit People upgrades have put us in a reliability stands ready to carry you to your Mover, owned and operated by Detroit and customer satisfaction bracket that destination in style and comfort, safely, Transportation Corporation, has served is the envy of municipalities across conveniently – and with a whole lot the transportation needs of over the country. of fun! 2-million annual Downtown Detroit Our 15-minute loop and five-train The past 20 years have been both residents, workers and visitors to the fleet ensure that a train will appear at challenging and gratifying to Central Business District. every station every three minutes, and Downtown Detroit - and to us. With continual upgrades, strategic that the time between stations will The foundation is strong, and we are improvements and conscientious average just over one minute! Forgive all moving in the same direction – maintenance, The People Mover has us if our pride is showing. a Downtown we can all value, love kept pace with the changing public Whether you are a frequent rider of and enjoy. Ride with us. Advertise transit industry. State-of-the-art necessity or a first-timer on a great with us. Grow with us. The best is computer hardware and software adventure, The Detroit People Mover yet to come! “We’ll take you there”.™ www.thepeoplemover.com DETROIT BUSINESS MAIN 08-13-07 B 35,36 CDB 8/6/2007 3:07 PM Page 1 Living & Investing Restorations ■ From Page 32 roughs had been vacant for at least 30 years before Jonna acquired it from Southfield- based Farbman Group in 2004. The New Amsterdam project’s develop- ers said they expect the TechTown-based lofts to have a similar occupancy rate.
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