  Kslice Member Username: Kslice Post Number: 77 Registered: 04-2007 |
Any one know if ANY thing is goin on over there? We all know about the Book renovations and the F.S. Hotel but what about the Broderick? I saw the website they set up but havn't really seen anything going on. It's a real nice building with great views and if the renovation fell through or something, why... http://www.brodericktower.com/ index.html | ||
Tompage Member Username: Tompage Post Number: 30 Registered: 01-2005 |
I've heard some very positive things from those who know about what will be happening this year at the Broderick Tower. I can't say any more, but stand-by until Autumn. | ||
Thejesus Member Username: Thejesus Post Number: 1530 Registered: 06-2006 |
last I heard they ran into trouble w/ the parking issue...the developers wanted to build a tunnel to the GCP garage like Kales did but they turned out to be unable to do that for some reason...w/o parking, it's difficult if not impossible to get financing in place, for obvious reasons | ||
Kslice Member Username: Kslice Post Number: 78 Registered: 04-2007 |
It seems like turning that building into some affordable appartments would be really good for the city. It would get some working class people into downtown. | ||
Apbest Member Username: Apbest Post Number: 571 Registered: 03-2006 |
affordable apartments are to be had all over the greater downtown area...lets have some people with some disposable income | ||
Detroitstar Member Username: Detroitstar Post Number: 669 Registered: 01-2006 |
I would think that the nearby opera house garage on Broadway, less than a block away would solve the parking issue pretty easily. No? | ||
Civilprotectionunit4346 Member Username: Civilprotectionunit4346 Post Number: 160 Registered: 06-2007 |
I doubt anything is gonna become of the Brod' Tower. Last year people claimed work was going to be done. Higgins who own's it is supposedly hurting fund wise. | ||
Lmichigan Member Username: Lmichigan Post Number: 5734 Registered: 10-2003 |
Higgins is a minor partner in the project and ownership, now, from what I understand. From what I've heard the delay is coming from how exactly they want to develop the structure, and what would it be easier to get financing for, rental apartments or condominiums? | ||
Apbest Member Username: Apbest Post Number: 572 Registered: 03-2006 |
they have apparently chosen to go condo from what Allan was saying on UP, he seems to have some legit inside information...CPU, I assume that was speculation? or is that something you heard from someone | ||
Mackinaw Member Username: Mackinaw Post Number: 3127 Registered: 02-2005 |
Top floor condos for top dollar and lower floor apartments for rent would be brilliant. It appears some of the other places around GCP have worked out with for-rent apartments. The Fyfe Building has lease space, and isn't it the same with Kales? | ||
Fareastsider Member Username: Fareastsider Post Number: 478 Registered: 08-2006 |
I have a feeling I have heard all of this before?.?..... | ||
Gistok Member Username: Gistok Post Number: 4714 Registered: 08-2004 |
Has anything been built on the site of the former Madison Theatre auditorium on Broadway? If not, they could build a parking structure (with 1st floor commercial) for the Broderick residents, and connect it to the Broderick via a skyway above the alley (sorta "L" shaped). | ||
Lmichigan Member Username: Lmichigan Post Number: 5736 Registered: 10-2003 |
Gistok, Speak of the devil. That lot is owned by the Larson Realty Group, and according to their website (which hasn't been updated in quite some time) in their description of the renovation of the Madison Building: "Phase two of the project is planned as an infill parking structure with approximately 200 parking spaces and 1,500 square feet of retail." Now, the Larson Group has said a lot over the years. But, at least, it appears that they are looking to develop the lot as a parking structure. I imagine it would have to be one of those expensive automated ones given the lot dimensions. (Message edited by lmichigan on July 01, 2007) | ||
Gistok Member Username: Gistok Post Number: 4715 Registered: 08-2004 |
Lmichigan, I agree with you that the lot doesn't look large enough to hold a parking garage with regular ramps. But here is an old side image of the interior of the Madison Theatre auditorium take from the Broadway side wall facing towards the alley side wall. It sort of looks like it might be large enough for a parking ramp based on the width of the former auditorium in this photo.  | ||
Lmichigan Member Username: Lmichigan Post Number: 5738 Registered: 10-2003 |
Go look at an aerial on Google Maps and compare it to the nearby Opera House Garage and others. Either way, it appears that they have a garage planned for the site. | ||
Mind_field Member Username: Mind_field Post Number: 732 Registered: 10-2003 |
I just recieved an email from the developers of the Broderick Tower. It is indeed being converted into for sale condos. A restaurant on the ground floor, office space on floors 2-4, and condos on the rest of the floors. Construction should begin in fall of '07 and be completed by summer of '09. Grand Circus rises! | ||
Thejesus Member Username: Thejesus Post Number: 1563 Registered: 06-2006 |
^can you post the email? | ||
Jt1 Member Username: Jt1 Post Number: 9500 Registered: 10-2003 |
As a side note - Anyone know who owns the 'Madison's on Broadway' building and when the new restaurant (Angelina's Bistro?)is set to open. | ||
Detroitstar Member Username: Detroitstar Post Number: 679 Registered: 01-2006 |
That is some office space that I would LOVE to get my hands on! What a great location for entertaining on event evenings! | ||
Mind_field Member Username: Mind_field Post Number: 733 Registered: 10-2003 |
Prev Next Normal view To: 'M Preston' From: Broderick Tower Subject: RE: project question Date: Thursday, July 5, 2007 12:17 PM Dear Interested Party: The Broderick Tower is being redeveloped into a mixed use facility with a restaurant on the first floor, offices on floors 2-4, and for sale condo units on floors 5-34. The units will range in size from 550 sf to almost 2000 sf in size, with better than average amenities. The project is expected to start in fall 2007 and finish mid year 2009. More information will be made available once construction is underway and a completion date can be more accurately predicted. Sample floor plans are available at our website, http://www.brodericktower.com/. Thank you for your time, interest and support. MOTOWN CONSTRCTION PARTNERS LP -----Original Message----- From: M Preston Sent: Thursday, June 21, 2007 11:49 AM To: info@brodericktower.com Subject: project question Hi: I've followed real estate developments in downtown Detroit for what seems like an eternity now.......and speaking of eternity, when will the Broderick Tower begin construction? It seems like this project is in a perpetual state of delay. What is the latest? Thank you! | ||
Lmichigan Member Username: Lmichigan Post Number: 5749 Registered: 10-2003 |
Looks like I wasn't the only one to get that email. So, it seems that its been confirmed that the plans have changed from rental units to for-sale condo units. | ||
Jt1 Member Username: Jt1 Post Number: 9502 Registered: 10-2003 |
Or they are just passing on information to keep people (and city fines) at bay. It seems to me that whenever the city talks about fining the people that own crumbling buildings they announce revised dates. I hope I'm wrong but the track record on that building makes me a little skeptical about a rosy e-mail from the owners. I certainly hope that I am wrong come fall. | ||
Sharmaal Member Username: Sharmaal Post Number: 1168 Registered: 09-2004 |
Finally get to say it... Skipper's Rule. | ||
Supersport Member Username: Supersport Post Number: 11620 Registered: 10-2003 |
Skipper's Rule indeed. I highly doubt anything will come of the Broderick Tower in the next 5-10 years. Now if Rock/Quicken were to move downtown, that could be the saving grace that moves the project ahead. Until then, it'll continue to sit. | ||
Wolverine Member Username: Wolverine Post Number: 340 Registered: 04-2004 |
^ Why do you highly doubt anything will come out of the Broderick in 5-10 years? Show me what evidence brought you to state this time frame? (5-10 yrs) | ||
Lmichigan Member Username: Lmichigan Post Number: 5752 Registered: 10-2003 |
Yeah, I don't get that, either. That renovations will hit buildings such as the Broderick and Whitney are imminent. I just wrote them back concerning the hold up, and surprisingly got a reply back. They said (it's up for us to believe it or not) that the hold up has been the reworking of the plans to convert to condos instead of apartments creating an all new marketing strategy, and re-organizing the plans to make them work for for-sale condos. I believe them. Things get exponentially more complicated as you go from rent to for-sale residential units in a multi-unit building. | ||
Thejesus Member Username: Thejesus Post Number: 1568 Registered: 06-2006 |
I emailed them earlier to ask about the parking situation...as we all know, that building isn't going to be renovated until the parking situation gets worked out... Lmichigan: What's that about the Whitney building? Are there plans in the works or are you just hoping/guessing something happens to it soon? | ||
Psychgrad Member Username: Psychgrad Post Number: 3 Registered: 12-2004 |
The email Mind_field posted seems to make the response Lmich posted believable. When looking at the floor plans pdf on the Broderick Tower website it shows that some plans (Type C - 422 sqft) are under the 550sqft mentioned in the email that was posted above. The pdf also showed several types above the implied 2000 sqft cap mentioned in the email. It could be they felt that the upper and lower end of size would work as apartments but would not be marketable as condos, thus the re-working of the plans and marketing strategy they mention. | ||
Rjlj Member Username: Rjlj Post Number: 356 Registered: 11-2003 |
Parking will not be a problem. East Grand Circus Parking garage is VERY under utilized right now. There are too many parking myths on this board that cloud what is really going on. | ||
Gistok Member Username: Gistok Post Number: 4743 Registered: 08-2004 |
What sort of incentives will be lost going directly to condos as opposed to starting out as rental units for 5 years before switching over? | ||
Rjlj Member Username: Rjlj Post Number: 357 Registered: 11-2003 |
^^^Nothing will be lost. | ||
Mind_field Member Username: Mind_field Post Number: 734 Registered: 10-2003 |
If this project is still activity-less by the beginning of next year, i hope the city steps up it's blight ordinance enforcement and fines. There is no excuse for it to take over half a decade to convert this tower to residential. It's in one of the best locations in one of the hottest residential real estate markets in Michigan. And I'm sure it will quickly sell out, it towers above the competition! As for the Whitney, once the UA is done, the Broderick, and the new quicken hq on the statler block, the Whitney owners would be dumbasses to just let that property sit there. | ||
Billk Member Username: Billk Post Number: 30 Registered: 09-2005 |
It could be that their construction manager, JC Beal Construction, is busy with another project on the west side of Grand Circus Park. | ||
Yelloweyes Member Username: Yelloweyes Post Number: 149 Registered: 02-2007 |
Quote: "The project is expected to start in fall 2007 and finish mid year 2009" It seems that many projects in the downtown area are to be completed in 2009. Can anyone name some others?...It just seems 2009 is a familar year. | ||
Kslice Member Username: Kslice Post Number: 87 Registered: 04-2007 |
The BC was gonna be done in 08'... The new Ford F-150 comes out then! http://www.leftlanenews.com/fo rd-f-150-future.html A little off topic. | ||
Thejesus Member Username: Thejesus Post Number: 1587 Registered: 06-2006 |
Still no reply to my email about the parking situation... My guess is that the issue is still unsettled and that's the hurdle they still need to clear before they can begin construction | ||
Civilprotectionunit4346 Member Username: Civilprotectionunit4346 Post Number: 167 Registered: 06-2007 |
I still say this project for it won't go until about 3-5yrs. They need to get parking, people have mentioned here, plus there's all kinds of other legal stuff & building stuff that needs to be done. | ||
Gistok Member Username: Gistok Post Number: 4779 Registered: 08-2004 |
OK, I'll ask again... when they developed the Kales Building, there was a reason that they went rental as opposed to condo. It had something to do with certain tax credit or enterprise zone requirements about having them as rentals for 5 years. Can anyone (besides Skulker who's not posting lately) remember what that was? | ||
Rsa Member Username: Rsa Post Number: 1158 Registered: 10-2003 |
gistok; you are right: they will lose some tax credits. the historic tax credits would still apply (as long as they don't modify the exterior character of the building or the interior public spaces). if they were applying for any type of housing credits, those would not work. i don't remember the specific name of that credit, but it's the one that requires condo properties to be rental for five years (woodward square, merchants row, the kales building all utilized these credits) and single family developments to be rental for fifteen years. i have heard thru the grapevine that the developers found that these credits were not cost beneficial to the project. my assumption is that they can get enough buyers at the right price right away to eliminate the need for that subsidy. also, they are going to utilize the same parking strategy the kales did and tie into the grand circus park garage. it has been presented to city council but there still some concerns to be addressed (from what i've heard). same thing happened with the kales. | ||
Gistok Member Username: Gistok Post Number: 4781 Registered: 08-2004 |
Thanks Rsa, I knew there was some specific reason that the other developments went rental first. | ||
Rsa Member Username: Rsa Post Number: 1159 Registered: 10-2003 |
you're welcome gistok. i want to say it's a MSHDA housing tax credit, but i'm not too sure. many of our clients use this option, but i'm no expert on it; i just know the basic requirements. woodward square was the first to use this, so keep an eye out for it to go condo first. initially, merchant's row was offering a rent-to-own option for tenants because they intended to go condo after the first five years. however, i seem to remember that this violated one of the rules of the credit and they quietly discontinued that option. i've heard they will offer first dibs to tenants to buy their unit. i have a few friends who are "sitting" on theirs so they can buy when the time comes around... | ||
Billk Member Username: Billk Post Number: 33 Registered: 09-2005 |
Well, some activity is going on. Beal Construction/demo crew erected a scaffolding thingy on the sidewalk around the building Sunday. I also noted some other work vans around, they may have been for the restaurant next door. | ||
Llyn Member Username: Llyn Post Number: 1853 Registered: 06-2004 |
Gistok, I believe the way the tax credits work is that historic preservation credits require you to maintain ownership of the building for five years. Therefore they can't sell them as condos until the five years are up. Also... I'm not as skeptical about this project proceeding as probably a majority of the forum. They've put a lot into this already... (1) Full architectural drawings and specifications (mech, elec, the works). (2) Extensive work on the finanacing package... to the point where they just had one small item to resolve late last year. (3) Bid process... they went to the trouble to get pricing and a fixed budget on construction costs. I don't think Higgins has the wherewithal to do all this on his own. Whoever his partners are, they have financial clout plus they've put a lot of time/money into this already. I don't think they've done this much just to fold up now. And remember that most of this was done before Quicken was more than just wild speculation. Will it happen? I can't tell the future and have no personal knowledge of the current state of progress beyond the statements in the news, seeing the drawings out for bid, and rumors on the forum. Skipper's rules. But if I were betting, I would bet that construction starts before 12 more months pass us by. (Message edited by llyn on July 10, 2007) | ||
Detroitstar Member Username: Detroitstar Post Number: 708 Registered: 01-2006 |
For the first time today I noticed new awning signs for "The Pit Stop" on the first floor of broderick tower. Any info on this? | ||
Rsa Member Username: Rsa Post Number: 1164 Registered: 10-2003 |
llyn; there are ways around that. you can develop the building with a company and just sell equity to people that buy condos in the building. much like a co-op. then, when the five years are up, you dissolve the company and each person's equity is transferred into a deed or comparable document (not sure if you get a deed with condo's). the folks at another historic building downtown are utilizing this method. | ||
Swingline Member Username: Swingline Post Number: 869 Registered: 11-2003 |
Llyn has got it on the tax credits. Historic rehabilitation tax credits are only available for income producing property. Hence, an adaptive re-use into rental apartments or lofts qualifies; rehabilitation for sale as condominiums does not. If the condo market is strong enough, the credits might be unnecessary. If the Broderick Tower is rehabbed into condos, that is a good thing. It's a sign of a healthy real estate market. All of those potential retailers like to owners even more than renters. | ||
Planner_727 Member Username: Planner_727 Post Number: 125 Registered: 07-2006 |
JC Beal has signage up on the next two small retail buildings over toward the river... i wonder if a deck from Braodway through to Woodward with 1st floor retail would be do-able. Another candidate could be the parking lot in back of the opera house... too small though for anything easy. | ||
Rjlj Member Username: Rjlj Post Number: 359 Registered: 11-2003 |
"i wonder if a deck from Braodway through to Woodward with 1st floor retail would be do-able." This would be a horrible idea with plenty of parking under GCP. | ||
Planner_727 Member Username: Planner_727 Post Number: 128 Registered: 07-2006 |
If the rumors of a GCP underground connection being impossible, and the Metropolatin building still a possible residential project that could also link to the garage... and new/fresh retail space on the street front... seems like a workable deal to me. I'm sure that the deck would not handle all the Metro and Broderick units needs... GCP garage could supplement. | ||
Rjlj Member Username: Rjlj Post Number: 360 Registered: 11-2003 |
Do you really think it makes sense to purchase more land and then build a brand new parking garage when you have a parking garage right across the street with ample parking? Not to mention, where does the money come from to purchase this unavailable land and build a parking garage? Are you an urban planner? | ||
Kittypooka Member Username: Kittypooka Post Number: 3 Registered: 01-2006 |
...For the first time today I noticed new awning signs for "The Pit Stop" on the first floor of broderick tower. Any info on this?... From my understanding...Higgins leased the FlameNEmbers/Tavern in the Park to the owners of Bookies which of course will actually run it like a nice sports bar and gain back some of the clientel. | ||
Planner_727 Member Username: Planner_727 Post Number: 130 Registered: 07-2006 |
As I had mentioned, (1) half of the land exists in the asphalt lot where the madison theater once stood (2) the other half is the two smaller retail buildings adjacent to the broderick that have JC Beal Broderick Project posters in the windows The land is available (i.e. parking lot or vacant single-story retail), and would not necessarily be a negative project. The existing retail buildings are crap, so you'd have new retail on woodward and new retail instead of a lot next to beer co, small plates. As has been reviewed in other threads, there is serious issue in the financing process if you do not have parking DIRECTLY connected. Rumor is the underground connection cannot be made. Thus, another option/solution to connected parking may very well make or break the project. | ||
Lukabottle Member Username: Lukabottle Post Number: 84 Registered: 12-2004 |
I talked with Mike, he did confirm he hired someone to manage the Pit Stop but did not name who. He also talked about an underground parking tunnel leading to Grand Circus in the works. He said several of the condos have already been sold. | ||
Lukabottle Member Username: Lukabottle Post Number: 85 Registered: 12-2004 |
I talked with Mike, he did confirm he hired someone to manage the Pit Stop but did not name who. He also talked about an underground parking tunnel leading to Grand Circus in the works. | ||
Jt1 Member Username: Jt1 Post Number: 9551 Registered: 10-2003 |
Have the owners/managers of the pit stop ever heard of bleach or cleaning products. Pretty sad that they can't even clean the windows prior to opening. | ||
Motorcitydave Member Username: Motorcitydave Post Number: 28 Registered: 11-2004 |
I hate the fact they named it Pit Stop!!... not really a good name for a bar, it kind of gives you the feeling that you need to hurry up and get in and out quickly...lol.... it doesn't really portray a comfortable relaxing neighborhood bar feeling.... plus, with it's location, history of the building and whole area, they could have been more creative with the name. | ||
Andylinn Member Username: Andylinn Post Number: 434 Registered: 04-2006 |
there is work being done on the broderick. let's just say I know this first hand. | ||
Gistok Member Username: Gistok Post Number: 4790 Registered: 08-2004 |
The long crescent shaped lot that wraps around the back of the Opera House will never be a parking structure (they have plenty across the street in the Opera House Garage). I've heard 2 rumors about that Opera House parcel. Originally they were going to put a roof top entertainment space on top of the Opera House. Before air conditioning came into being in the late 1920's, most theatres across the country were too hot in the summer time to function as theatres, so they used their roof tops for other entertainments (vaudeville, but obviously not movies). The New Amsterdam Theatre in NYC (1903) was one such theatre. The rooftop of the Capitol Theatre originally was designed for such a use in 1922 (before A/C), but it was never developed. When I was on a tour of the office block of the Opera House 2 years ago we got to walk around the rooftop. There is however too much mechanical equipment up there, so space for any such venture is awkwardly located. So one idea was to have an outdoor intimate space (for summertime use) in part of that back Opera House parking lot. Of course, it could not be very large, due to the awkward shape of the lot (shaped like a comma). Another idea I heard rumbling about was that at some point they may add one or more reception halls to the back of the Opera House. The way the Opera House is configured, there is no grand lobby. There are 2 smaller lobbies at either of the 2 entrances (Madison and Broadway). And the large grand foyer that separates these 2 spaces is more geared to circulation space (being cut in half by a mezzanine bridge) than reception space. The Opera House may add some grand reception rooms to the back of the theatre (just off the grand foyer) in order to cater to other functions (that include food service) besides performing arts (Opera intermission area). Again, at this time, this is all still speculation. We really don't know what Dr. DiChiera has in mind as the final outcome of this space. But he has plenty of benefactors with deep pockets who like brick and mortar projects. And based on the interior designs of the modern glass elevator tower near the Madison side of the building (where even the elevator doors are framed with Corinthian pilasters), it will likely be a classic looking space (to complement the rest of the building) with Corinthian columns and other renaissance ornamentation, rather than a modern looking space. |
