Posted Dec 5, 2015, 3:02 AM
|
|
Registered User
|
|
Join Date: Nov 2010
Posts: 2,993
|
|
Couple of major stories today.
Quote:
Wayne State medical school financial woes delay construction on Midtown building
By KIRK PINHO. Crain's Detroit Business. December 4th, 2015.
If you’ve been wondering why it looks like a scene from the TV adaptation of Stephen King’s The Langoliers at a prime location on Woodward Avenue in Midtown, we found out why Thursday.
The Wayne State University School of Medicine, which is the parent of the Wayne State University Physician Group, lost $29 million in the fiscal year 2015 that ended Sept. 30, my colleague Jay Greene (and football enemy for the next 24 hours) reported Thursday.
Hence: Construction on a $68 million medical office building and parking structure for the physicians group never began this summer as planned after a 155,000-square-foot building at the Woodward site between Seldon and Parsons streets was demolished.
....
The building had been expected to open in 2016. It’s safe to say that’s no longer the case, but a revised construction timeline is not available.
“We are still working with the developer, still working on drawings of the building and we are also working out different financing options,” Lockwood said. “We are moving forward, but the financial issue has delayed it.”
|
http://www.crainsdetroit.com/article...onstruction-on
Quote:
Restoration Hardware not opening in 1217 Woodward after all, sources say
KIRK PINHO. Crain's Detroit Business. December 3rd, 2015.
Restoration Hardware is apparently back on the market for digs downtown after a deal for space along Woodward Avenue collapsed.
Nearly a year after Crain’s first reported that the Corte Madera, Calif.-based luxury home-furnishings retailer was planning a Detroit outlet store, sources say Restoration Hardware has backed out of a plan for space in the Dan Gilbert-owned building at 1217 Woodward Ave.
However, the company is still looking around in and around downtown in other properties along the Woodward corridor, sources said. No more specific intel is available just yet.
One source said the issue complicating the deal was that RH would have to be spread across as many as five floors in the 36,000-square-foot building. Another source was unaware of the circumstances surrounding the retailer backing out of the plan.
....
|
http://www.crainsdetroit.com/article...er-all-sources
Quote:
More retail, housing planned for Corktown
Louis Aguilar, The Detroit News. December 4th, 2015.
Metro Detroit businessman Anthony Soave plans to build a blocks-long retail and residential development near the old Tiger Stadium site.
The broad outline of the potential development, which is a work in progress, was confirmed by a spokeswoman for Soave. Others familiar with the plans said it’s expected to include hundreds of residential units and additional retail. It could include the conversion of the Checker Cab building at 2128 Trumbull into residential lofts, according to several people who have seen preliminary designs. A separate multistory residential building could be constructed behind the cab building.
The plan is expected to be formally announced early next year, possibly in January.
“The timing is a little premature” to discuss the project, Soave’s spokeswoman, Kelly Rossman-McKinney, said Thursday. She emailed a one sentence response when asked about the potential development. “Mr. Soave is looking forward to strengthening and enhancing his investment in the city of Detroit and helping contribute to what is already a booming Corktown success story.”
.....
|
http://www.detroitnews.com/story/new...roit/76759118/
Quote:
Wolverine Packing expands its Eastern Market headquarters
By GARY ANGLEBRANDT. Crain's Detroit business. December 4th, 2015.
Wolverine Packing Co. is adding a second story to its Eastern Market headquarters as it expands its sales and administrative offices.
The add-on to the building, at the corner of Rivard Street and the Chrysler Service Drive, will double the current 15,000 square feet of sales and administrative offices for the meat processing and distribution company. Construction, which began last summer, is expected to finish at the end of the first quarter of 2016.
A remodeling of the building’s front entrance also is underway.
Growing sales prompted the expansion, President Jim Bonahoom said. “We’ve had a good run for the last 10 years.”
Growing sales are also the reason why the company has increasingly resorted to using the service drive as a parking lot for its truck trailers. Wolverine has run out of space to keep them on its own property.
“I'm surprised there haven’t been complaints,” Bonahoom said.
That soon will change. Wolverine this past summer closed on the purchase of a 3-acre city-owned lot just south of Sacred Heart Church between Rivard and the service drive. It plans to use the property for truck staging.
....
|
http://www.crainsdetroit.com/article...t-headquarters
|