  Leland_palmer Member Username: Leland_palmer Post Number: 205 Registered: 08-2004 |
http://www.freep.com/apps/pbcs .dll/article?AID=/20070103/NEW S99/70103058 "Kenneth Cockrel Jr. postponed action. Instead, he asked city planners for more information to support a sale price of $220,500. “I was just concerned about the purchase price. I just want to make sure the city is getting all it can,” Cockrel said. “I just needed to get an opportunity to see that information.” From the Freep/JOHN GALLAGHER | ||
Paulc Member Username: Paulc Post Number: 80 Registered: 03-2005 |
A few questions to the ever-so-knowledgable folks on the forum concerning this issue... 1. While it appears that Ilitch Holdings / Olympia Development(no surprise)will inevitably own the GAR Building - and have cited their intentions to renovate and use as office space - is there still anything within the historical register / designation preventing them from reneging? Is the building safeguarded in any way from a demolition standpoint? 2. Is it true also that Ilitch Holdings / Little Caesar's will also be renovating / populating the Michigan Mutual Building? Does the GAR deal change this? Thanks for your wisdom... | ||
Gravitymachine Member Username: Gravitymachine Post Number: 1432 Registered: 05-2005 |
as well he should, there is no way that building could fetch so little money on the open market. is there? | ||
Rjlj Member Username: Rjlj Post Number: 224 Registered: 11-2003 |
Why would you focus on pennies in the whole grand scheme of the city budget? Not to mention that this building will bring people downtown, create jobs and tax revenue. There is much more to focus on this a few thousand dollars. Common council needs to get their priorities straight. | ||
Rrl Member Username: Rrl Post Number: 705 Registered: 12-2003 |
I would agree, a good due diligence request by KCJr. Don't know if anyone up in here had an opportunity to read the RFP, but I would wonder did it request just development and use plan for the building, or also a price offer along w/ development plans. If so, it would be interesting to see how the Olympia proposal stacked up against the others, and whether this is just another sweetheart deal for Illitch. | ||
Itsjeff Member Username: Itsjeff Post Number: 7323 Registered: 10-2003 |
Paulc, earlier this year the City entered into a consent agreement regarding the GAR. In the agreement, the City has to require any developer to take certain steps to maintain the historic integrity of the building. If they don't, then the good news is that the building would revert back to the City. The bad news is that the building would revert back to the City. | ||
Kenp Member Username: Kenp Post Number: 160 Registered: 03-2006 |
This was a setup deal, gift wrapped and hand delivered. | ||
Charlottepaul Member Username: Charlottepaul Post Number: 175 Registered: 10-2006 |
Doesn't it take more than one city council member of the nine to postpone the action? | ||
Charlottepaul Member Username: Charlottepaul Post Number: 176 Registered: 10-2006 |
Any historical designations don't prevent the building from being demolished, rather as eluded to, the RFP required that in order to receive ownership of the building there must be a development plan included. | ||
Paulc Member Username: Paulc Post Number: 83 Registered: 03-2005 |
Thanks Itsjeff and Charlottepaul for the info. So in essence - Ilitch and Co. may receive a "kiss-me" deal for the building and could still potentially tear it down? I'm thinking in terms of Ilitch continuing his land grab for a "presumed" stadium site... | ||
Lmichigan Member Username: Lmichigan Post Number: 4998 Registered: 10-2003 |
I'm glad he's doing this. In a city with an eroding tax base and shrinking population every last penny counts. Just as it's the obligation of a developer to get the best bang for his/her buck, it is just as much the obligation of a city to its citizens to get the best deal possible. I don't mind Cockrel holding this one up, temporarily, one bit. | ||
Bvos Member Username: Bvos Post Number: 2106 Registered: 10-2003 |
Given the extensive renovations needed on the GAR as well as the limited site and limited uses available for the building, $250k actually seems like a reasonable offer. And the city did do their due dilligence through an RFP. So Illitch was the one they picked. Big deal, who cares. They're rehabing a long shuttered but valuable piece of Detroit history. Hopefully this will lead to more and more redevelopment efforts on Illitch's part rather than land speculator as much of his current holdings are regarded. | ||
Gistok Member Username: Gistok Post Number: 3407 Registered: 08-2004 |
OK, we've gone thru this before, but apparently it bears repeating. The fewer than 12 or so parking spaces that a demoed GAR would get is not worth the $220,000 price. The land the GAR sits on CANNOT be part of another complex because it is surrounded by Grand River Ave., Cass Ave., and Adams Ave. None of these 3 streets can be closed so that this tiny parcel of land can be added to another larger project. And why is that.... 1) Grand River Ave is one Detroit's major radiating arteries. 2) Cass Ave is the major western connector between Downtown and Midtown. 3) Adams Ave. is one of the major arteries of the Entertainment (Stadia/Theatre) district. | ||
Lmichigan Member Username: Lmichigan Post Number: 5001 Registered: 10-2003 |
Why are you explaining this, again? | ||
Ha_asfan Member Username: Ha_asfan Post Number: 75 Registered: 06-2006 |
A local historic district designation protects contributing resources from being razed. This deal isn't much different than the Rackham deal where a developer picks his properties and names his price. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 399 Registered: 01-2005 |
There were several bidders, apparently. Cash was only one consideration, the development committment being the other. Didn't Cockrell compare Ilitch's bid to the others? With the restrictions that burden the building, I'm surprised anybody bid for it. That's not the kind of real estate where comps can justify an appraisal. Having tried to buy the building years ago and inspected it thoroughly, I think Ilitch is overpaying. Cockrell's showboating...standing up to the man. (And, I like Cockrell and financially supported him. Nothing personal.) | ||
Itsjeff Member Username: Itsjeff Post Number: 7337 Registered: 10-2003 |
Do you wonder if Ilitch bid on it just to piss you off, since you predicted in another thread that the RFP would garner no takers at all? | ||
Gistok Member Username: Gistok Post Number: 3418 Registered: 08-2004 |
Lmichigan... I explained it again because some folks (maybe some newbies) still think it will end up as part of an arena footprint. Now that's not to say that it couldn't end up as a "decorative sidewalk"... but even that's not likely. (Message edited by Gistok on January 10, 2007) | ||
Thnk2mch Member Username: Thnk2mch Post Number: 604 Registered: 02-2006 |
Council asks for more time on sale of GAR Building http://www.freep.com/apps/pbcs .dll/article?AID=/20070110/BUS INESS/70110034 | ||
Dabirch Member Username: Dabirch Post Number: 2039 Registered: 06-2004 |
I had been avoiding this thread, but after reading through it, I must ask one question: Itsjeff, why do you stalk 3rdworldcity so? | ||
Eastsidedog Member Username: Eastsidedog Post Number: 879 Registered: 03-2006 |
The GAR building would be a fitting HQ for the Ilitches. Surrounded by parking lots. But really, they don't deserve such a cool building. The assembly room would make a cool live music venue -- but they will likely gut it for cubicles. | ||
Kathleen Member Username: Kathleen Post Number: 1878 Registered: 10-2003 |
Anyone know how much additional time was requested by City Council before this can move forward? | ||
French777 Member Username: French777 Post Number: 108 Registered: 10-2006 |
if Olympia Entertainment goes down... does detroit go down with it.. | ||
Lmichigan Member Username: Lmichigan Post Number: 5064 Registered: 10-2003 |
lol! | ||
Rocket_city Member Username: Rocket_city Post Number: 153 Registered: 04-2006 |
So, the City is going to play slumlord now? Haven't they had years and years to figure out what that has done to the city. The GAR, otherwise is a difficult building to redevelop. Why prolong this? You don't buy a plasma TV from Walmart for super cheap and then get to the checkout counter, show your West Bloomfield ID, only to have the cashier say, "surely you can afford to pay more for this TV. We're going to try to sell it to you for more money." As far as I'm concerned, the city administered a formal process in which its goal was to sell this special building with the intent to have it redeveloped very soon. So, why all of a sudden do they have to go into the corruption cabinet and pull out a stink bomb? By doing so, they're going to end up putting the GAR file with all the others in the "50 needless years to redevelop" cabinet. Upping the price was not part of this deal. Sure, they could probably get more for the GAR, but to me, that's irrelevant after they sealed the deal. It's poor leadership and poor business ethic that has the ability to turn away developers in the future if the city creates a backstabbing reputation like this. | ||
Thejesus Member Username: Thejesus Post Number: 494 Registered: 06-2006 |
yes, it's a great-looking building with some history, but there's a reason the building has been vacant for THREE DECADES people...relatively speaking, the area where it sits is far less desireable for commerce than several other locations in Detroit and the suburbs... it's possible that someone may be willing to outbid Illich for the building, but then what will they do with? Just leave it vacant for another three decades? Olympia is going to inject millions of dollars into the place and set up shop there... I've never understood all the anti-Illich feelings I read here considering that he's done far more to develop Detroit in recent years than anyone, including all of you.. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 428 Registered: 01-2005 |
The Detroit City Council. One of the main reasons I chose my member name on this forum. | ||
Ordinary Member Username: Ordinary Post Number: 135 Registered: 06-2006 |
Is this still stalled? | ||
Charlottepaul Member Username: Charlottepaul Post Number: 558 Registered: 10-2006 |
Delays: its how things get done in Detroit! | ||
Eastsidedame Member Username: Eastsidedame Post Number: 4 Registered: 12-2006 |
My fantasy is that the GAR Building should be used to serve Detroit's veterans. It was built in honor of our Civil War veterans and ideally it should belong to our veterans now. I don't like the idea of homeless, disenfranchised veterans...actually it makes me sick. When you think of all the amenities it had/has it would be a wonderful resource for them. If I had Madonna's money....I'd buy it and renovate it myself, and give it to the veterans at a big tax write-off. Better than actually paying taxes. OK, I'm done dreaming, now. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 578 Registered: 01-2005 |
Good. | ||
Urbanize Member Username: Urbanize Post Number: 323 Registered: 02-2007 |
lol. At least you have an imagination. | ||
Rhymeswithrawk Member Username: Rhymeswithrawk Post Number: 499 Registered: 11-2005 |
if Olympia Entertainment goes down... does detroit go down with it.. Sadly, yes. As much as I despise Ilitch, there aren't many millionaires in the area who'd step in. It's a tough love. | ||
Skulker Member Username: Skulker Post Number: 3700 Registered: 10-2003 |
quote: Actually, with its location, lack of parking, poor physical condition, awkward floor plates chopped up by a huge open stair case and use restraints, that number actually seems a bit high. | ||
Psip Member Username: Psip Post Number: 1587 Registered: 04-2005 |
Close Adams St between GR and Cass, then all of a sudden,that 220K becomes 2M. Its not like this has not happened before. ie. Columbia at Woodward. What Illich wants Illich gets. (Madison Lenox) | ||
Kenp Member Username: Kenp Post Number: 329 Registered: 03-2006 |
I really dont think the price is the real issue at all, its the process of selecting who got to buy it. | ||
3rdworldcity Member Username: 3rdworldcity Post Number: 579 Registered: 01-2005 |
I agree w/ Skulker again. See my post # 399 (1/5) above. Oh, I just saw Itsjeff's (RIP) post # 7337 above. I made no such prediction. Dabirch, just saw your post above. Good question re: Itsjeff. Thanks. | ||
Skulker Member Username: Skulker Post Number: 3701 Registered: 10-2003 |
Who the hell are you and what did you do with 3WC? Lowell: please investigate this fraud that keeps agreeing with me. | ||
Jrvass Member Username: Jrvass Post Number: 53 Registered: 01-2007 |
From what I remember of the GAR building, it's on a crappy triangle shaped piece of property. I saw it a couple weeks ago on the P-Mover. The building is worth more than the land. Which isn't saying much. I agree with Eastsidedame, fix it, make it handicap accessible (federal funds?), and give it to the VFW/Salvation Army... whatever. James | ||
Urbanize Member Username: Urbanize Post Number: 337 Registered: 02-2007 |
It would be a beautifal spot for a VFV headquarters hall though in SE Michigan. | ||
Urbanize Member Username: Urbanize Post Number: 338 Registered: 02-2007 |
"2. Is it true also that Ilitch Holdings / Little Caesar's will also be renovating / populating the Michigan Mutual Building? Does the GAR deal change this?" I only know for sure that Ilitch plans to expand and grow the Little Caesars chain. | ||
Eastsidedame Member Username: Eastsidedame Post Number: 66 Registered: 12-2006 |
Well, at least they're not going to be "wrapping the distinctive exterior of the building in advertising banners." It sold to the Ilitchs for the minimum price of $220,500 with approval of City Council today. I hear they are planning to invest $2 million in renovations as their HQ, per a judicial order, an easement must insure that the cornerstone and mosaic lobby floor with G.A.R. motif, will be kept and restored. City planner Alexander Pollack said the building sits "on the edge of the entertainment district. (The area) is about to blossom." The best of luck to all concerned. Do it up right.  (City of Detroit photo) |
