 
Kingofdetroit
Member
Username: Kingofdetroit
Post Number: 109
Registered: 10-2006
| | Posted on Monday, August 11, 2008 - 4:56 pm: |    |
Has anyone heard anymore about the 1001 Woodward Condo's? The tall brown bldg kitty corner to Campus Martius. I spoke with a guy who was in charge of it named Pierre but that was last summer'ish and I think it died because they couldn't get 12 or so more commitments... I was this close to putting down the 1K to hold one. I should have just for the point of it. They were supposed to start at 125,000 I think and go up to 400,000. I took the tour and went up to the higher floors and I've got to say I've been in quite a few high rises in Detroit and this bldg by far had the best view I've seen from a bldg in the D. The best! It was sick! You could see everything from there. Seriously I was so excited the only reason I didn't put down the deposit was because I just had a kid and I wasn't sure I wanted to raise my child in dtown Detroit. But for single or even married people this would have been the COOLEST most inspiring place to live in Detroit. Hands down. And for 125,000 you still had a cool view on the east side facing Campus Martius. Of course the higher up the more expensive but still.
IMHO that was THE place to live in Detroit. Close to everything in dtown and secured included parking. WTF? Why can't this city harvest enough people to accomplish that? Is this city that damn broke no one wants or can afford a 200,000 premium located skyrise condo in downtown Detroit? It's pathetic. I'm thinking about enquiring more and see what's going on there. They also used to have a website, anyone remember?
Also there were particular models that incorporated the middle part of the bldg that had floor to ceiling glass that wrapped around so you could see through to the other side. Hard to explain but SO cool. If this city can't get a dozen people to invest in comparitively CHEAP downtown skyrise living I don't forsee anything improving anytime soon. |
Brandon48202
Member
Username: Brandon48202
Post Number: 228
Registered: 12-2004
| | Posted on Monday, August 11, 2008 - 4:59 pm: | |
"IMHO that was THE place to live in Detroit"
Then why didn't you buy one? |
Kingofdetroit
Member
Username: Kingofdetroit
Post Number: 110
Registered: 10-2006
| | Posted on Monday, August 11, 2008 - 5:02 pm: | |
"I just had a kid and I wasn't sure I wanted to raise my child in dtown Detroit."
I really wanted to though and still kind of do. I was mainly going to do it for an investment because I truly believe that would be the most prime real estate in downtown Detroit. Screw the Cadillac or whatever. That bldg doesn't have good views. From the upper floors I could see straight down Woodward and see the fist and the river perfectly. Imagine waking up to that every day. |
Jjw
Member
Username: Jjw
Post Number: 547
Registered: 10-2005
| | Posted on Monday, August 11, 2008 - 5:03 pm: | |
I wonder if they were planning on replacing the windows in that building? |
Kingofdetroit
Member
Username: Kingofdetroit
Post Number: 111
Registered: 10-2006
| | Posted on Monday, August 11, 2008 - 5:04 pm: | |
Secondly you couldn't buy it until they got enough people to sign. I feel bad I didn't but I'm pretty sure I'm in the minority of people who would have or thought to invest in the first place. Mainly because I have money secondly I like Detroit. |
Kingofdetroit
Member
Username: Kingofdetroit
Post Number: 112
Registered: 10-2006
| | Posted on Monday, August 11, 2008 - 5:05 pm: | |
I don't think they planned on replacing the windows. They looked fine to me when I saw them. Maybe just clean em but they were solid and bigger than they look from the street. |
Jjw
Member
Username: Jjw
Post Number: 548
Registered: 10-2005
| | Posted on Monday, August 11, 2008 - 5:11 pm: | |
I don't believe the windows in that building open or do they? |
Wolverine
Member
Username: Wolverine
Post Number: 568
Registered: 04-2004
| | Posted on Monday, August 11, 2008 - 6:58 pm: | |
People tend to like operable windows. Not sure if they open. They might swivel on-center, but I can't think of a time I've ever seen one open, so I doubt it. |
Mackinaw
Member
Username: Mackinaw
Post Number: 5247
Registered: 02-2005
| | Posted on Monday, August 11, 2008 - 8:37 pm: | |
What's wrong with the views from the top of the Book-Cadillac? |
Jasoncw
Member
Username: Jasoncw
Post Number: 544
Registered: 07-2005
| | Posted on Monday, August 11, 2008 - 9:40 pm: | |
I don't think they swivel either, but the building would look really cool that way.
But yeah, the operable windows is probably part of it. The architecture is probably part of it. Most people don't like that kind of architecture, while people like older architecture like the B-C and all the loft conversions. And for people who are into modern architecture, it would be pretty hard to beat Lafayette Park.
I think the only thing that's going for it is the location and the parking. |
Ronaldj
Member
Username: Ronaldj
Post Number: 40
Registered: 01-2007
| | Posted on Monday, August 11, 2008 - 10:49 pm: | |
I worked in the building for a number of years. The windows do not open. I do not believe the windows in The Pavilion in Lafayette Park open either. should not be a deal breaker. That is why they created air-conditioning.
Wonderful walking location. Only need plentiful clean cabs like Chicago and Toronto to make Midtown and New Center accessible.
I hope this deal can be structured. An ideal downtown location and, at one time, home to one of the best barbers in town. |
Gistok
Member
Username: Gistok
Post Number: 7204
Registered: 08-2004
| | Posted on Monday, August 11, 2008 - 11:58 pm: | |
The building was purchased this year bo Greektown developer Jim Papas.
Not sure what his plans are for it, whether it be residential or office space. |
Spiritofdetroit
Member
Username: Spiritofdetroit
Post Number: 1166
Registered: 11-2006
| | Posted on Tuesday, August 12, 2008 - 12:02 am: | |
gistok -
he stated his plans were for office space.
we shall see.... |
Gistok
Member
Username: Gistok
Post Number: 7205
Registered: 08-2004
| | Posted on Tuesday, August 12, 2008 - 12:10 am: | |
Thanks Spirit... I heard that the bank moved out of the 1st floor and into One Kennedy, so the entire building is available for lease... |
Youngprofessionaldetroiter
Member
Username: Youngprofessionaldetroiter
Post Number: 152
Registered: 07-2008
| | Posted on Tuesday, August 12, 2008 - 1:09 am: | |
"Is this city that damn broke no one wants or can afford a 200,000 premium located skyrise condo in downtown Detroit?"
The 150,000-200,000 price point is one of the hardest to sell anywhere in Metro Detroit. The problem is that the people who are shopping in this price bracket are very sensitive to the ups and downs of the economy. Of course, right now we're in the downs.
Oddly enough, Dave Bing's project hasn't had too much of a problem selling his 700k units. In fact, he's had to redesign the masterplan to eliminate some of the lower end units and replace them with higher priced ones.
YPD |
Viziondetroit
Member
Username: Viziondetroit
Post Number: 1987
Registered: 11-2003
| | Posted on Tuesday, August 12, 2008 - 1:19 am: | |
Windows @ the Pavillion open. There is a small 1x3ft type window that opens inwards. |
Kingofdetroit
Member
Username: Kingofdetroit
Post Number: 115
Registered: 10-2006
| | Posted on Tuesday, August 12, 2008 - 6:18 pm: | |
Yes my friend lived at the Pavillion and had a corner room. Great views there as well depending on what side of the bldg you are. Even though the floor to ceiling windows made all the views good.
I spoke with Pierre again today at 1001 and he verified that the residential project was no longer active. I made a mistake earlier in my post. He had about 45 signed(not bad) people but needed about 120... And now it is going to be office space on the 10th thru 12th floors. Too bad. I think maybe they bit off too big a venture. Maybe they should have just spec'd out the top 4 floors for a smaller project. Maybe one day someone will see the opportunity there. |
Kingofdetroit
Member
Username: Kingofdetroit
Post Number: 116
Registered: 10-2006
| | Posted on Tuesday, August 12, 2008 - 6:19 pm: | |
Oh yeah the office space is currently going for 18$ a sq ft. Not sure if thats good or bad. I'll assume good. |
Bvos
Member
Username: Bvos
Post Number: 2304
Registered: 10-2003
| | Posted on Tuesday, August 12, 2008 - 10:16 pm: | |
The real estate market downturn took this project out of becoming reality. Those 120 leases would probably need to become 250-300 leases in today's financing market. So if it wasn't the lack of leases at 120, it would have been the lack of ability to reach 250 leases when the bank changed the terms of financing this year on the developer.
I wouldn't say that it's a sign of bad times in Detroit. It's a sign of bad times all over the state and across the country.
P.S. Lots of people live in modern high rises all over the world that have fixed, non-movable windows. "You" might not prefer that sort of thing, but don't say that "people" don't like that sort of thing. |