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Old February 26th, 2017, 09:04 PM   #21
mhays
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Quote:
Originally Posted by aquaticko View Post
Okay, my admiration for this project and Gilbert is much lessened by the "need" for a tax abatement to make it happen. If Gilbert had a real altruistic streak in him, he'd be willing to contribute to the city's development and its fiscal situation by paying the taxes anyone with a lesser development proposal and less-prominent public image would have to.
This looks like an extremely expensive project to build. Rents would need to be (guessing) in the $4-5 range per square foot for the housing, even with "free" land. Some of that would be to support the affordable units. It would be tough to pencil in my expensive city, and it's quite a bet in Detroit.

Therefore it's a huge bet, and he's likely to lose money. He might even be planning to lose money, out of altruism/legacy (??) or using this as a loss-leader to continue the Downtown revitalization relative to his properties and overall.

He could have a good case about this project helping increase the value of other properties and drawing people to the city, and therefore helping the City's tax base more than the value of the abatement.

I'm not totally sold on the abatement or using public funds but am trending toward being in favor in this case. Not that my opinion matters.
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Old February 27th, 2017, 12:52 AM   #22
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Fair points, but a lot of hypotheticals. I'm just aware of far too many projects of every kind that receive tax abatements without doing what they're hypothetically supposed to do in exchange. Providing those incentives for a project that could be, theoretically, very lucrative is a big gamble for any municipality, never mind one as desperate and destitute as Detroit.

Sure, you could argue that Gilbert's in the same boat--who seriously thinks that it isn't a risk to build a new 50-floor building in downtown Detroit?--but that's his risk to take. He's an entrepreneur; the city isn't.

I just don't like seeing effusive praise heaped on entities who do what they they're supposed to do and need goading to do it.
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Old February 27th, 2017, 07:46 AM   #23
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a glassy one
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Old February 28th, 2017, 09:20 PM   #24
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I can't believe this is real. Good for you Detroit.
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Old March 6th, 2017, 06:51 PM   #25
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Former Hudson's Site to Become Home to Detroit's Tallest Building
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Plans are now underway to redevelop the former Hudson's Site in downtown Detroit into what will become the tallest structure in the city, a slate of new renderings and additional information about the project have come forward from developers Bedrock and Rock Ventures displaying the design from NYC-based SHoP Architects and Detroit-based Hamilton Anderson Associates, who will be working together on the project.
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Old March 6th, 2017, 09:35 PM   #26
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Pretty cool and modern.
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Old September 7th, 2017, 12:15 AM   #27
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As I posted in another thread, I'm really excited to see this thing rise. Hopefully there will be more skyscrapers of this height (and maybe even taller. I still hold out hope for a supertall one day) being built soon. Detroit could really use some new additions to the skyline.
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Old September 14th, 2017, 02:07 AM   #28
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Hudson's site project swells by $125M — and gets taller



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Jozef Guziewicz, vice president of construction for Gilbert's Bedrock LLC, said the residential tower is now planned to be above 800 feet,
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Old September 14th, 2017, 02:21 AM   #29
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It's nice that they raised the height, but I don't think the design of the base is nearly as cool looking as the previous designs. I'm disappointed they decided to go in a more generic direction.
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Old September 14th, 2017, 06:38 AM   #30
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It's still a beautiful proposal .
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Old September 15th, 2017, 06:23 AM   #31
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Wow I actually think this is a huge improvement.
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Old September 16th, 2017, 04:26 AM   #32
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Shame.
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Old September 16th, 2017, 04:47 AM   #33
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To me this is a great improvement. Just 184 more feet please!
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Old November 28th, 2017, 05:13 AM   #34
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Lofty goals: Detroit breaks ground Friday on city's tallest skyscraper


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Memories of the historic Hudson's store will mingle with hopes for the future Friday as Detroit breaks ground on what promises to be the city's tallest skyscraper.

Businessman Dan Gilbert and Mayor Mike Duggan will headline the groundbreaking event at the site on Woodward Avenue where the 800-foot tall, $900-million mixed-use building will rise and where the old Hudson's store stood for decades.

The new project remains unnamed at this point, referred to simply as the Hudson's site for now.

It's been a long time coming. The vacant Hudson's store, focus of so many memories for long-time Detroiters of Thanksgiving Day parades and Christmas shopping, crashed down in a mountainous cloud of dust and ash in 1998 when it was finally imploded.
http://www.freep.com/story/money/bus...per/888169001/
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