downtown development update august 2014

Download Downtown Development Update August 2014

Post on 17-Nov-2014



Real Estate

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Overview of 30 real estate development projects in Downtown Detroit presented at the August 26, 2014 DDP Stakeholders meeting.



2. I)= ltl: :lIl" l Tltltl; ("lWIi"' i [M iA_| ;.~m"~*Residential Connect Downtown neighborhoods with an Encourage complete and inclusive 6.000 - residents today environment that is:Downtown amenities that appeal to 3.500 - capacity for new apartments diverse populations day and night.Target:10,000 residents by 2020 Walkable- Solid design principles that reinforce street networkRetail - Engaging storefronts with lit windows at night 275 - retail establishments today - Interesting ground floor activities 400.000sf - capacity for new retail - Functional sidewalks and crossings "arget:400 retail establishments by 2020BikeableOffice - Bicycle infrastructure network 85,000 - employees today - Bikeshare "arget 100.000 employees by 2020Transit accessible - Street car - Bus - People Mover 3. _4L_*r**":*,g _ 0 53 1 e Entertainment i-/i District ,, V V: / Le Grand River I District *7 T 7 H Lower : I oodv arf ' Wesi District r ' Dlstflf-L Si?r: T~, ' 3; Greelltown :;:. :S::"1 '3 5 5*:i L;". ampus T District F F /__ Financial l l 0 0 DistrictRiverfront .District RivertownDistrict 4. Cobo Hall Streetscape RIVERFRONT DISTRICT SOURCE:Detroit DDADeveloperLocationScopeAsset ClassSizeCostCompletionDetroit DDA1 Washington BlvdInfrastructure/ Public SpaceN/ AN/ A$3.5 millionJune 2015 5. Riverfront TowersRIVERFRONT DISTRICTSOURCE:Dusiness*rI V / DeveloperLocationScopeAsset ClassSizeCostCompletionThe Hayman Co100/200 Riverfront DrRenovationResidentialN/ A$5 millionJuly 2014 6. Detroit Marriott RenovationRIVERFRONT DISTRICT SOURCE:Detroit MarriottDeveloperLocationScopeAsset ClassSizeCostCompletionDetroit Marriott at the Renaissance Center 400 Renaissance DrRenovation/ AdditionHotel100,000 SF$30 millionDecember 2014 7. Renaissance City ApartmentsRIVERFRONT DISTRICT SOURCE:Wllage GreenDeveloperLocationScopeAsset ClassSizeCostCompletionVillage Green555 Brush StreetRenovation/ AdditionResidential375,000 SFN/ ASpring 2015 8. I-375 Alternative Study MULTIPLE DISTRICTS SOURCE:DEGC/ , DeveloperLocationScopeAsset ClassSizeCostCompletionDetroit DDAI-375Feasibility StudyInfrastructure/ Public SpaceN/ AN/ ASeptember 2014 9. Orleans Landing RIVERTOWN DISTRICT SOURCE:Mcconnack Baron SalazarDeveloperLocationScopeAsset ClassSizeCostCompletionMccormack Baron SalazarFranklin & Orleans StreetsNew ConstructionResidential,Retail278 apartments 10,000 SF retail$61 millionDecember 2016 10. Cornice and Slate BuildingGREEKTOWN DISTRICTSOURCE:Blue Cross Blue Shield of MichiganDeveloperLocationScopeAsset ClassSizeCostCompletionBlue Cross Blue Shield of Michigan 733 St.AntoineHistoric RedevelopmentMixed Use22,000 SF$3 millionOctober 2014 11. One Kennedy SquareCAMPUS MARTIUS DISTRICT SOURCE:REDICODeveloperLocationScopeAsset ClassSizeCostCompletionREDICO777 Woodward AveNew Retail TenantsMixed Use-Office/Retail250,000 SF Office 14,500 SF RetailSpring 2014 12. 1001 WoodwardCAMPUS MARTIUS DISTRICTSOURCE:Rock Ventures,Bedrock Real Estate ServicesDeveloperLocationScopeAsset ClassSizeCostCompletionRock Ventures/ Bedrock Real Estate Services 1001 Woodward AveRedevelopmentMixed Use- Parking/ Office503,417 SFN/ AWinter 2014 13. Detroit Media Partnership FINANCIAL DISTRICT SOURCE:Rock Ventures,Bedrock Real Estate ServicesDeveloperLocationScopeAsset ClassSizeCostCompletionRock Ventures/ Bedrock Real Estate Services 615 W LafayetteRedevelopmentMixed Use-Parking/ Office655,346 SFN/ ATBD 14. Anytime Fitness at Security Trust Lofts FINANCIAL DISTRICT.; 1. I 1 " i I, -, i i a 2 " i I 2 Y .. r I S I IDeveloper Joseph KallabatLocation 735 GriswoldScope Historic RedevelopmentI tll-~l-I~xT F ' Asset Class Mixed UseSize 35,000 SFCost ~$2.8 million6,Completion Winter2014j- /-*SOURCE:Griswold Holdings,LLC 15. Federal Reserve FINANCIAL DISTRICT _ g I,1 5;'~I r. rI$r; r