[DetroitSky]

Meh, this doesn't surprise me:

Facing delays and rising construction costs, The Mid scales back

Soon after the Michigan Strategic Fund awarded the project $58.3 million in incentives through the state’s Brownfield Redevelopment Program, developer Real Estate Interests expected to break ground in September.

But now, Crain’s Detroit Business reports that the developers still have a financing gap to close and the nine floors of luxury condominiums are unlikely to be built. The total cost of the project rose over $60 million just five months after it was announced, and profit margins do not justify their inclusion.

The rest of the designs for the multi-building project are being reevaluated. Original plans called for a 225-room hotel, 60 for-sale condos, 180 apartment units, a 12-story “co-living” tower, and 100,000 square-feet of retail space across 3.8 acres and several buildings on Woodward Avenue. It was last expected to cost $377 million.

Despite these issues, the developers say the project is still moving forward.

She added that construction is expected to begin by the end of February.

This sale was supposed to include the plans for the 8 story Studio Live apartment building. The article doesn't mention Studio Live but mentions the sale included the parking lot where the new building was planned. We can probably assume they're not pursuing construction due to rising construction costs like everything else:

New Center developers buy former WJBK building for $2.6M

Work is well underway at the Albert Kahn Building in New Center to convert the historic office building into 206 studio, one-, two-, and three-bedroom apartments with ground-floor retail. Meanwhile, developers Adam Lutz and Matt Sosin have just made another major purchase across the street.

Near the end of 2019, the groups closed on the former WJBK-TV Studios building at 7441 2nd Avenue for $2.6 million. Ottawa-based Halcor listed it in May last year for $3.5 million with Vincent Mazzola of O’Connor Real Estate.

Matt Sosin, president of Northern Equities Group, says they have no definite plans for the property at the moment. “It remains to be seen what will happen with the building,” he says. “The building, the site, the zoning are flexible. You can do office, hotel, apartments.” It also comes with 80 parking spots.

Instead, the group is focused on completing The Residences at the Albert Kahn and are offering the WJBK building for rent. The leasing agent is AJ Weiner at JLL.

The article also includes info on the Albert Kahn Building renovation, now called The Residences at the Albert Kahn:

Lutz and Sosin say The Residences at the Albert Kahn are on track for a summer 2020 completion date—one of the few developments expected to finish on schedule due to rising construction costs.

NAIAS Adds International Motor Bella Outdoor Event to Kick Off 2020 Auto Show in June

The North American International Auto Show today announced that a new outdoor event – Motor Bella Presented by PNC Bank – will kick off show activities June 5-8 on Broadway Street on the west side of the Detroit Opera House in the central business district.

Motor Bella will be a celebration of Italian and British car culture in a thriving part of Detroit during the weekend leading up to the NAIAS’s Press Preview. During the four-day festival, exotic car club members from dozens of clubs along with local supercar enthusiasts will experience some of the world’s finest supercars alongside authentic food and culture from the region.

“When we began to re-envision NAIAS, our goal was to expand the show into the city, provide more ways for the community to interact with the brands, and really showcase the global car culture throughout Detroit,” says Rod Alberts, executive director of the NAIAS. “Motor Bella will take place in one of the most dynamic and growing areas of the city and will give show goers an opportunity to engage with Italian and British luxury and sports car brands.”

Motor Bella, which is expected to feature more than 100 Italian and British supercars representing 12 brands, such as Ferrari and Rolls Royce, takes its name from the combination of motor and bella, which combines the historical British concept of “motoring” with the Italian word for beautiful. Motor Bella will be produced by NAIAS in association with the Consulate of Italy in Detroit and British Consulate General in Chicago, support from sponsors, and the anticipated participation of several dozen car clubs.

Detroit’s giant RoboCop statue almost finished after nearly 10 years: Where it will be displayed

DETROIT - Detroit will soon have its long-awaited RoboCop statue on display in the city. After nearly 10 years in the making, the giant bronze statue depicting the cyborg law enforcer from the 1987 movie, who patrolled the streets of Detroit in the near future, is nearly complete.

Organizers, who started the Kickstarter campaign in 2011, tell MLive the statue should be done by the end of March. Once it’s complete, the statue will be put on display outside the Michigan Science Center on John R St. most likely sometime this spring.