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DDA OKs $3.2M loan for Redico office building


Allan

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Still doesn't make since. That thread was made as a joke, thus anything said in it really couldn't have been off subject. We are talking about this thread, here, in particular, as well as some others were you just leave random comments and questions that have little or nothing to do with the subject. I really hate to pick, but it can be quite distracting for all of us actually interested in discussing seriously things going on in the city.

I don't want to be mean, but for me you can be really distracting.

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  • 3 weeks later...

what were they smoking when they decided to tear the old city hall down

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I'm not sure, LOL. There was a group of a few people who tried to save it. I can't remember what the name of it was now. Apparently the city claimed that old city hall suffered from shoddy construction. I don't see how old city hall could've been constructed with any less integrity than the crap we're throwing up now though, so that doesn't make any sense.

On the park webcam you can see the activity at the Kennedy Block off in the corner.

img.jpg

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Are they only building 2 storefronts? That seems a bit big for each space. Doesn't it? An ESPN Zone would be really nice right in that spot.

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Huh?!? 2 storefronts? Where did you get that from? If you are refering (refer, get it, LOL) to the 2 objects in the Kennedy block, 1 is the entrance to the parking structure and the other is the door to the stairwell leading to the parking garage.

Yes, I do agree that it would be a great spot for a ground floor restaurant.

It's nice to see grass in C-mart! It was a giant sandbox for too long.

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Yeah, I heard the same thing.  I was a bit surprised.  I thought they were going to put more divided retail space in the base.

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Well maybe whatever it is will be pretty big. An ESPN Zone would be perfect, but would also take up a good amount of space.

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Speaking of neon signs, Vincente's got just got theirs. It looks nice.

Hopefully whatever restaurants they do put in are regional draws, the way Hard Rock is working out to be. It will only strengthen the park and its use. Before we got this random snow, I was down there spending my afternoon in the park shooting photos. There were lots of people about, many passing through, some sitting and talking, others getting a bite to eat. Its nice to experience the park in nice weather.

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Accounting firm Ernst & Young L.L.P. is among tenants being courted by Redico Management Inc. for its 10-story office building planned for downtown Detroit, real estate sources say.

The Kennedy Square building is planned as a $50 million project that will have at least three large tenants and house up to 1,300 workers. Real estate sources say IBM Corp. information-technology workers under contract to Visteon Corp. are to be the major tenant. But sources say Redico also is talking to Ernst & Young and law firms as prospective tenants.

see the rest at: http://www.crainsdetroit.com/cgi-bin/artic...articleId=26941

The downside of this is that they are currently in Comerica Tower, so it would be just relocating downtown tenents.

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The fact that they are relocating can be both good and bad I guess. The good thing is that the employees will be located closer to the Woodward retail district. There really isn't much opportunity for shopping over by Comerica Tower. I think with more employees in that area will help the stores in the Compuware and Dime Buildings, and as well as the stores in Merchants row. As baldy said, the fact that they are leaving Comerica Tower is kind of sad as well. Does anyone also know the status on 1 woodward? Is that place empty?

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One Woodward is not empty, although it's got quite a low occupancy rate. There was a large tenant moving in or out on Saturday morning...I couldn't tell. Maybe they should tear down the Guardian Building so they can put a parking garage there to help out One Woodward's occupancy rate. :lol:

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One Woodward and the Guardian has 'shared' tenants in the past. And, as you guys know, the Guardian is looking to demolish the little glass box directly adjacent to it for a parking ramp to make it more competitve in the downtown market since it also sits at low occupancy, right now.

It just goes to show that downtown still has quite a ways to go as an office market before it can compete with even the other office centers in the region.

Right now, it's mostly a game of "musical office," but that's to be expected in a weak office market. And, I'm not worried about Comerica Tower losing tenants because it's prime Class A office space and will always be able to attract new tenants. It's quite a bit of a different story if Kennedy was pulling tenants from Class B or C office space downtown, though.

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