  Thejesus Member Username: Thejesus Post Number: 2828 Registered: 06-2006 |
ok, so I sent them an email back in July asking about the parking situation, and they just replied to me on Friday (yes, over the holiday weekend) -----Original Message----- From: xxx@xxx.com [mailto:xxx@xxx.com] Sent: Thursday, July 05, 2007 3:50 PM To: info@brodericktower.com Subject: Dear Motown Construction Partners: I was curious what the parking options will be for residents and businesses that will occupy the tower. Thank you, A prospective buyer ------------------------- From: Broderick Tower Hide To: xxx@xxx.com Date:Fri, 23 Nov 2007 11:03 am Thank you for your inquiry regarding the Broderick Tower The Broderick Tower Project was converted from an apartment project to a for sale Condo project earlier this year in reaction to the market inquiries we had been receiving. This slowed our progress, but improved our product. The units are fantastic, and will range from smaller 1 bedroom units at about 200k to true penthouse units that will sell for 1.3 Million +. Some units will be bilevel, and all will have the best views in Detroit; in some combination of down into Comerica Park, up Woodward, the Riverfront and Belle Isle, or downtown. Parking will be provided in the Grand Circus Park Garage across the Street, and will be connected by an underground tunnel directly to the building. As to progress; the construction drawings have been revised as necessary for the condo project, financing is in process, and marketing is organized. We expect to formally launch the sales process in early spring 2008. Construction will start later in 2008 with the first units available in early 2010. MOTOWN CONSTRUCTION PARTNERS | ||
Jt1 Member Username: Jt1 Post Number: 10864 Registered: 10-2003 |
1 BR at 200K? Good luck selling those. I know that the numbers have to work for a project to proceed and I will be very happy to see this move forward but I question how overly optimistic they are being with the market. I hope it sells but 200K for a 1BR? | ||
Raptor56 Member Username: Raptor56 Post Number: 194 Registered: 05-2007 |
interesting.... Sounds all grand, groovy, and great, but so did the previous plan, and the previous previous plan, and the..... This is the one building downtown I personally really would like to see successfully developed. | ||
Crawford Member Username: Crawford Post Number: 163 Registered: 10-2006 |
Those prices will not work in this market. | ||
401don Member Username: 401don Post Number: 80 Registered: 11-2007 |
Sure those prices will work. You start with a low interest variable mortgage . . . | ||
Thejesus Member Username: Thejesus Post Number: 2830 Registered: 06-2006 |
the prices might seem a little high for "this" market", but keep in mind that we're not really talking about "this" market...we're talking about the market as it will be circa 2010-2012 | ||
Bobj Member Username: Bobj Post Number: 3038 Registered: 11-2003 |
Seems out of whack with the market unless things pick up a lot by 2010 | ||
Fareastsider Member Username: Fareastsider Post Number: 697 Registered: 08-2006 |
Im having Deja vu! Again! | ||
Mind_field Member Username: Mind_field Post Number: 825 Registered: 10-2003 |
I also recently emailed them about the apparent lack of progress and any timelines announced in the media never being adhered to. Here was their response: I appreciate your concerns about timing. Unfortunately these projects are infinitely difficult and slow to assemble. I would point out though that while dates have been mentioned in news stories; mostly based on interviews with individual participants, there has NEVER been a formal announcement of this project or any official dates published. That will occur with our launch next Spring. See below for the general status report we are currently distributing in response to project inquiries. Let me know if other questions remain Thanks, Thank you for your inquiry regarding the Broderick Tower The Broderick Tower Project was converted from an apartment project to a for sale Condo project earlier this year in reaction to the market inquiries we had been receiving. This slowed our progress, but improved our product. The units are fantastic, and will range from smaller 1 bedroom units at about 200k to true penthouse units that will sell for 1.3 Million +. Some units will be bilevel, and all will have the best views in Detroit; in some combination of down into Comerica Park, up Woodward, the Riverfront and Belle Isle, or downtown. Parking will be provided in the Grand Circus Park Garage across the Street, and will be connected by an underground tunnel directly to the building. As to progress; the construction drawings have been revised as necessary for the condo project, financing is in process, and marketing is organized. We expect to formally launch the sales process in early spring 2008. Construction will start later in 2008 with the first units available in early 2010. MOTOWN CONSTRUCTION PARTNERS Also, I think the downtown market will continue to improve, substantially so with the Quicken move and if Gilbert can bring down many more companies, then that will only boost the downtown housing market. | ||
Lefty2 Member Username: Lefty2 Post Number: 696 Registered: 07-2007 |
Interesting update; seems like they saw the Book Cadillac sales and decided to go condo, but what do i know. Late 2008 might be more like mid late 2009 if things are status quo. Seems entry level is priced too high and top end might sell quick with the views and all. They might get a few Quickenies if all things jell cohesively. | ||
Scooter2k7 Member Username: Scooter2k7 Post Number: 24 Registered: 10-2007 |
It would be nice if they can finally get this project going. It is actually embarassing to see the Broderick all dark on Tigers night games. You cannot piece the shadow in right field. Since the Tigers are better they get a lot of national coverage and the nation sees that dark tower. If anything why cant they atleast light it up during Tigers games to show that it is not an abandoned building. I know the cost is probably too much but so is another shot on Detroit's image. | ||
Gsgeorge Member Username: Gsgeorge Post Number: 360 Registered: 08-2006 |
Scooter, you really want to light up a vacant tower? Nothing like living in denial... let alone the waste of money. Save it for the rehab. | ||
Scooter2k7 Member Username: Scooter2k7 Post Number: 26 Registered: 10-2007 |
They do it in New York | ||
Scooter2k7 Member Username: Scooter2k7 Post Number: 27 Registered: 10-2007 |
"The only remnant of the past is the skeletal remains of the Smallpox Hospital, which is known as the Renwick Ruin and is eerily illuminated at night with funds from an anonymous donor." http://detnews.com/apps/pbcs.d ll/article?AID=/20071126/NATIO N/711260366/1020/NATION | ||
Dan Member Username: Dan Post Number: 1461 Registered: 10-2003 |
The Penthouse of the Broderick is amazing, someone will snatch that space up quick, as for the 200k single bedroom units, I think those will sell a bit slower. Glad to see they still have their hearts in the game, and have found a parking solution. | ||
Lukabottle Member Username: Lukabottle Post Number: 109 Registered: 12-2004 |
When I worked on the first floor there several years ago, some kids tried to light it up. They brought in their own fuse box, wired it to our main,ran the power all the way up to the roof, and brought in several thousand brand new Christmas Lights. The kids had the audacity to ask for help when their plan didn't work. We chased them out and the staff all got new Christmas Lights. Even though we weren't allowed power above the 6th floor, I wish they would have pulled it off. | ||
Burnsie Member Username: Burnsie Post Number: 1212 Registered: 11-2003 |
That Christmas light plan sounded like a good way to start a fire. Scooter2k7 wrote, "light it up during Tigers games to show that it is not an abandoned building." But, it *is* an abandoned building! | ||
Greatlakes Member Username: Greatlakes Post Number: 68 Registered: 07-2007 |
Not really. There's a bar on the first floor now. http://www.modeldmedia.com/dev elopmentnews/pitstop9707.aspx | ||
Rax Member Username: Rax Post Number: 10 Registered: 11-2007 |
That place is closed. | ||
Greatlakes Member Username: Greatlakes Post Number: 69 Registered: 07-2007 |
Aw, that's a shame. It made this year's "Best of Detroit" list in the Metro Times. http://www.metrotimes.com/edit orial/story.asp?id=11916 | ||
Tetsua Member Username: Tetsua Post Number: 1372 Registered: 01-2004 |
I wouldn't think most folks would want to go into a business that looked, and smelled like a basement. | ||
Diggelicious Member Username: Diggelicious Post Number: 68 Registered: 08-2005 |
will it open back up for baseball?(i.e. closed for the winter) or closed permanently? | ||
Rax Member Username: Rax Post Number: 12 Registered: 11-2007 |
Best what? Best black mold incubator? | ||
Johnlodge Member Username: Johnlodge Post Number: 3853 Registered: 10-2003 |
"I wouldn't think most folks would want to go into a business that looked, and smelled like a basement." CLEARLY you have not been to the bar under the Blind Pig. STANK. What IS that smell?! | ||
Thegryphon Member Username: Thegryphon Post Number: 1 Registered: 11-2007 |
Everyone keeps say that Grand Circus, is a sleeping giant. Look at the Kales. If I am not mistaken its near capacity, and that's just across the way. With views of the park, Comerica lit up at night, and the River, the prices may not be too far off. I'd consider living there. Not to mention by 2009, the U of M's economist said Michigan's economy would start producing jobs, I.E. better housing market. | ||
Jt1 Member Username: Jt1 Post Number: 10869 Registered: 10-2003 |
quote: And national economists originally thought the foreclosure/housing crisis would be gone by the end of the summer, then the 4th quarter, now the 1Q2008. Economists have turned into an overly optimistic crowd so I would take the 2009 forecast with a grain of salt. The shit will continue to hit the fan in Michigan through 2008 and, if we are lucky we will see some stabilization in 2009 but certainly not a recovery. | ||
Thegryphon Member Username: Thegryphon Post Number: 3 Registered: 11-2007 |
The U of M report was based primarily on the "end" or slowing of lay-offs in the Auto industry (they have to get to a point were their Michigan labor force meets what is required). Once the cuts slow, the economy should "stabilize" not a "recovery" I agree with you on that (Michigan will never be the like it was in the 1990s), but we will stop shedding jobs and thus opportunities for growth are highly probable. Clearer Jtl in my thoughts? | ||
Jt1 Member Username: Jt1 Post Number: 10870 Registered: 10-2003 |
Got it. I was thinking of what other overly optimistic reports. If the reports call for bleeding to stop in 2009 then I can agree with that. | ||
Busterwmu Member Username: Busterwmu Post Number: 402 Registered: 09-2004 |
Why not keep some for apartments and sell the rest as condos. I'd grab an apt. in the Broderick in a heartbeat before Merchant's Row or any other places down there, even if it were more money. In the current disastrous housing market, it may make more sense for them to do more of a half-and-half at the moment, then see how things pan out and convert to only one at a later time. | ||
Mind_field Member Username: Mind_field Post Number: 834 Registered: 10-2003 |
Excellent idea Buster. |
