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Posted Sep 11, 2015, 11:18 PM
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Registered User
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Join Date: Nov 2010
Posts: 3,001
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Much going on in the ancillary developments.
Quote:
Big plans revealed for Temple Street near new arena
Louis Aguilar, The Detroit News. September 11, 2015.
Owners of the Red Wings want to double the size of a street near the massive new arena being built in Cass Corridor and hinted they also hope to redevelop three empty buildings near the arena.
But the fate of three other buildings seem much more unclear.
The Wings’ owners would like to widen Temple Street between Cass and Woodward avenues. That stretch of Temple is one block north of the 650,000-square feet new sports/entertainment venue under construction. It’s slated to open in 2017.
The plans were revealed Thursday evening to the Detroit Historic Designation Advisory Board by representatives for Olympia Development of Michigan, which is the development arm for the Wings owners. The advisory board helps shape local historic districts in the city. It’s currently working on a historic district proposal named after nearby Cass Park. That proposed historic district includes the stretch of Temple where Olympia Development has big plans.
“They seemed to hint that some major development could occur near Temple and Cass,” said Michael Boettcher, a member of the advisory board working on the Cass Park historic district.
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Properties possibly to be renovated:
The former Hotel Fort Wayne, later renamed American Hotel
The former Alhambra apartments on Temple
2900 Cass
Properties possibly to be demolished for street widening:
The former Alden apartments
A former parking garage
The former Cole apartments
http://www.detroitnews.com/story/bus...rena/72058698/
Quote:
Arena holdout asks $3.5 million for fire-damaged home
Louis Aguilar, The Detroit News. September 10, 2015
The owners of a fire-damaged Cass Corridor house in the shadow of the new Red Wings arena are asking $3.5 million for the property. They are among the few holdouts in the area around the venue who have not sold to the Ilitch organization, which owns the Wings.
The home at 2712 Cass is an eight-bedroom, 3,344-square-foot house that was put on the market earlier this week, said Catina Willis, the listing agent representing the owners. The back of the home, which is partially charred black from a fire, is about a block away from a parking garage that will be built for the massive new arena, which is slated to open in 2017.
“We’ve gotten lots of calls, there definitely seems to be interest” in the house, Willis said.
The home is owned by a group of Detroit-area investors who paid $25,000 for it 13 years ago, according to Wayne County property records. The house has been subdivided into several rental apartments.
The owners often pay just enough of their property taxes to prevent tax foreclosure, according to county property records.
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Ilitch officials told the City Council last year that it had all the land needed for the arena, but had bids on other properties and were still deciding whether they would continue to pursue them. Olympia officials last year said they had talks with the owners of two Cass Corridor party stores, Paul’s Place and Stadium Liquor, about purchasing the buildings. Paul’s Place has not been sold, said Alan Ackerman, the attorney representing the owners.
The attorney for Stadium Liquor said ownership of the building had not changed.
About a block from the rental home, the owner of a squat building on Sibley got $20 million, according to city and Wayne County property records.
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http://www.detroitnews.com/story/bus...dout/72008000/
If anything, this area near the Motor City Casino will likely be a gateway into the entertainment district.
Quote:
Ilitches bet big on land near MotorCity Casino Hotel
Louis Aguilar, The Detroit News.
The Ilitch organization is on another land-buying spree, this time in an area just beyond the 45 blocks of Detroit it already plans to develop into an entertainment, retail and residential district.
The focus is the desolate area around the MotorCity Casino Hotel on West Grand River, just a few blocks west of downtown. The Ilitches have spent more than $10 million in at least 15 different sales since 2011, according to Detroit News research. The total footprint of the properties rivals the 650,000-square-foot new home of the Detroit Red Wings, which is being built six blocks away from MotorCity.
MotorCity Casino Hotel is owned by Marian Ilitch. She and her husband Mike co-founded Little Caesars Pizza, the international franchise based downtown. Mike Ilitch owns the Red Wings and Detroit Tigers.
The Ilitches have never publicly disclosed the Grand River area purchases, nor their plans for the land. The organization’s real estate unit, Olympia Development of Michigan, had no comment when contacted.
“The Ilitches once again appear to be playing the long game with these investments. And land development is often about the long game,” said John Mogk, a Wayne State University law professor who closely follows urban planning issues.
Public records show the Ilitches paid handsome prices for empty warehouses, small businesses and vacant lots around MotorCity. The acquisitions are just past the area that’s being targeted for $200 million of development surrounding the new arena.
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Information culled from public documents and private databases show many of the purchases happened after the 2013 announcement that the new Red Wings arena will be built six blocks east of MotorCity. That announcement increased real estate activity not only by the Ilitches, but also by other buyers.
An empty lot on West Grand River and Fifth, for example, is under contract to be sold after being purchased by a local investor about a year ago, said Gary Smith, a commercial real estate broker for Marcus & Millichap, who is involved in the sale. The 1/3- acre lot was listed for $650,000.
“The Ilitch activity certainly has sparked lots of interest,” Smith said. “There’s a lot of potential for retail, housing and they have already demolished one building they purchased,” he said.
It’s likely the Ilitches are waiting to see how the 45-block development surrounding the new arena plays out before details emerge about plans for the West Grand River property, according to several people who follow Detroit development. The overall plan for those 45 blocks is called District Detroit. The Grand River area purchases are in some cases a half block away from that targeted District Detroit, which is expected to attract hundreds of new residents as well as plenty of retailers and other businesses.
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http://www.detroitnews.com/story/bus...land/32375355/
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Maybe François Hollande could pay us a little visit? (just kidding I hear he's not so great).
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