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Durant Hotel

Allan

By Allan
in Flint

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VeeFan Whistle-Stop

VeeFan

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I don't know how financially successful this would prove, but what about turning the lobby and possibly the second and third floors into a museum of Flint history? Does such a museum exist in Flint right now, other than collections that are scattered around Kettering, U of M, the public library, etc.?

Even if the entire hotel couldn't be used, wouldn't it be worth it to at least preserve the lobby and a floor or two?

Oh, and if the Durant is ever revitalized for residential, commercial, or a hotel, they'll have to put in a rooftop garden, since one is already growing. ;)

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dnast Hamlet

dnast

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I just wanted to make a few clarifications.

Hotel:

While I doubt that downtown Flint has a strong hotel market, you can't really use the Character Inn for reference. It's only open to the public during special events like the Crim. Other times it's available mostly to convention attendees. Even if it was open to the public, there's the fact that only their few closed-circuit stations are available and there's no smoking or drinking allowed in the hotel.

I don't think it's a good idea for the Durant to be restored as a hotel, but I think downtown could use a small, "open" hotel serving visitors.

Parking Lot:

Flint's parking lot market isn't nearly as lucrative as Detroit's. I'm not even sure if there's a privately owned standalone parking lot (meaning not owned by and serving an adjacent business). Besides, there isn't much demand for parking at that location anyway. There's a parking garage across the street from it and most of the nearby businesses have their own parking. It would only be useful during the Crim and Fourth of July festivals, and maybe during car cruises.

Residential:

I'm probably over-simplifying it, but what the heck :)...

Let's say renovation costs $15m and they rent 100 units for $750/month. That brings in $900,000/yr and the lofts would be paid off during the 16th year. Add maybe 8 storefronts with a very reasonable $2000/month lease and that would bring an additional $192,000/yr for about $1.1m/yr income. It would be paid off a little after 13 years.

Besides, if a 16-loft renovation can work with spending $6.2 million, I don't see why spending about 2.5 times as much on a project with possibly 6 times as many units (and probably more than 6 times the income) wouldn't be feasable.

But don't forget my disclaimer :P. I didn't include things such as interest on the loans and probably other things that didn't even cross my mind. And on the other hand tax-credits and grants weren't brough up either. But like I said a while ago, I don't expect to see any big residential projects announced until First Street Lofts and the other smaller loft projects prove successful. It might even take the Rowe building visibly coming together before we hear any other news at all.

I'm just glad there's no big event coming that could make Williamson pull a "Kwame" and tear it down "just because"...

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Allan Metropolis

Allan

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I didn't realize that the Character Inn isn't open to the public. That explains a lot. I guess I missed that little tidbit...but that's pretty easy to do considering that the place has changed names and owners about 500 times in 20 years.

I realize I really overestimated the parking lot scenario, but more than anything it was to make a point.

The Durant has been considered for lofts many times now. How many lofts have the plans included? It's hard for me to tell just how many lofts you can fit on a typical floor. The v-shaped plan isn't really that ideal for lofts, but it's a workable layout.

Ultimately I see stores on the first floor & on the mezzanine. Restoring the ballroom and main lobby would be costly, but they are what makes the Durant special. The lobby in particular surpasses the lobbies of all the grand Detroit hotels. The mezzanine level has another large ballroom, but it has been modernized. What little is left is not really worth saving. Lofts go above that. There is a few conference rooms and such on the 8th floor, but again, it's not worth saving.

The financing depends a lot on what tax credits are available. Getting the deal done would involve some very creative financing...it always does. Dnast's financing scenario is oversimplified, but I'm no expert either. If the financing was that easy, someone would've come along and renovated it already. I've got a couple friends down in Detroit that know a lot more about the financial aspect of residential conversions that I do...I'll have to ask them some of these things....

I heard a rumor in June that the Durant had been purchased by someone else. It's most likely not true, but it would be nice if it was.

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dnast Hamlet

dnast

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It would be great to get a better explanation of how the financing might work. There's no telling what I left out of the equation.

I hope someone else bought the building. If Daystar can get it done, I'm all for it, but obviously not since they can't seem to get anywhere with the relatively small Ferris Fur building or the Durant lofts which doesn't look like it would need much at all in repairs.

But I'm thinking it would have to be an outside developer to get anything done with the building in a timely manner and they probably won't be so willing to take a risk on Flint anytime soon. Uptown might be able to pull it off, but they have a lot on their plate right now.

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Allan Metropolis

Allan

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Uptown has already turned down the building, but they might be willing to take it on in the future. It's no small project, that's for sure. Once the First Street Lofts are completed, hopefully some people will take a second look at the Durant.

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dnast Hamlet

dnast

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Here's a new article about the Durant from this month's The Uncommon Sense. It says Kloss just purchased the building in May of this year. Since the purchase is so recent maybe there is a chance that a renovation is feasible. If Daystar can get something going I'll take back everything I've ever said about them :)

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Allan Metropolis

Allan

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Well, it was a long read, but definately worth it. It's the best article on the Durant I've ever seen. It's very hard to find decent information on the building.

I'd have to agree with you...if Kloss can get a development package together, then all his black marks will be erased from my book. It turns out that the street prophets were right on this one.

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VeeFan Whistle-Stop

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I think that's probably the most extensive article I've ever seen on any building in downtown. I'm trying to remember from the pictures now, are there any chandliers still hanging in the lobby?

It really would be such a shame if nothing ever happens and it does have to be demolished. I would love to see pictures of the lobby when it was first completed. :)

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Allan Metropolis

Allan

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The chandeliers are gone from the lobby. They were most likely removed when the hotel closed. There are chandeliers in one of the ballrooms, although they probably aren't original.

I can't say I've ever seen interior photos of the hotel when it was in operation, let alone first completed. There must be some photos somewhere...the hotel was the most luxurious hotel in the city.

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dnast Hamlet

dnast

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Kloss might be selling the building to the Land Bank.

Article

With the city and county supporting this, it might just get somewhere this time. My optimism about a renovated Durant just went up a notch. Would be more than a notch, but that building has had too many proposals since closing.

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dnast Hamlet

dnast

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I guess I can afford to give it more than a notch. I just hate to get my hopes up just to be burned in the end.

If the Durant happens and is a success (especially if it's market-rate housing) it'll be a major milestone for downtown development in Flint. And guess I don't want to get my hopes up too much about a potential major turning point for downtown.

If they give a completion date in the next few days, at least let me be a little pessimistic about that :)

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andrew.w Hamlet

andrew.w

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Although the hotel is very obviously still sitting there empty, did Land Bank ever buy it or did the deal never go through?

I guess I'm asking, because I was in Flint today, and seeing the Durant reminded me of this thread and that it just drops off in October.

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