Medical Mile/Michigan Street Developments

[quoteme3]

whoa, thank you for that (pdf)... that doc goes directly into my downtown GR marketing folder. Very helpful.

[GRDadof3]

whoa, thank you for that (pdf)... that doc goes directly into my downtown GR marketing folder. Very helpful.

You're welcome. To be honest, I've never read the whole thing.

[GRDadof3]

That got that last area of concrete poured just in time. I believe I actually saw them dismantling the concrete pump system (?)

[dtown]

This will look awesome from the freeway when its done. What freeway is that, BTW?

[NorthEnder]

This will look awesome from the freeway when its done. What freeway is that, BTW?

1-196 (ford freeway)

[sparky05]

OOOOH! NICE UP INTERFACE UPGRADE!

OK, I'm done.

Photos from today:

Is this thing going to be 6 or 7 floors?

[sparky05]

From the other direction, it still looks pretty intact:

[sparky05]

Has anyone else noticed this on Division just south of VAI?

[joeDowntown]

I think we definitely ended up with the best design in the end. The current building with the polka dots was strange...

Nope, that design with the spire and cables, and the waves at the ground floor, is the latest. I think these are all the different versions:

I don't think they were going for a "national icon". Those are pretty big shoes to fill. Freedom Tower in NY might be considered a national icon, or the St. Louis Arch, or the Sears Tower.

ION, the Lemmen Holton Pavilion across the street in that last image looks pretty funky. I like it.

[destijl]

I think there was a Mr. Fables restaurant on that site at one time.

EDIT: oh, you mean the sign?

Edited January 17, 2007 by destijl

[tamias6]

Will the Children's hospital be constructed from steel like the Medical Complex accross the street or cast concrete like River House?

Edited January 17, 2007 by tamias6

[mpchicago]

Will the Children's hospital be constructed from steel like the Medical Complex accross the street or cast concrete like River House?

Steel.

[joeDowntown]

This is what I meant by them potentially owning a large patch of N. Division. Only the building (background-left of the pic) isn't owned by VAI. Unless, of course, it is now.

Joe

Has anyone else noticed this on Division just south of VAI?

[Prankster]

Has anyone else noticed this on Division just south of VAI?

VAI had announced this sometime last year. It is supposed to be in conjunction with area schools, and help expose area children to the life sciences.

[GRDadof3]

VAI had announced this sometime last year. It is supposed to be in conjunction with area schools, and help expose area children to the life sciences.

....and the Michigan State University sign is there because it's the temporary location for the Dean.

[Allison Slater]

That sign's actually been there all summer. =p

[mgreven]

Anyone know what time the press conference is today? I'm sure we're all eager to see these new drawings!

I thought the comparisons to other university med facilities was interesting. This does seem like a small price tag, the $70 million sounded better. Maybe WOOD got it wrong?

We'll find out today!

[GRDadof3]

3:00 PM today mgreven.

As far as the $15 Million goes, WZZM explained the memo a little better than WOODTV. The wording said "MSU will pay RDV and Christman an amount NOT TO EXCEED $15 Million for the building, and NOT TO EXCEED $26 Million for the parking structure. But remember, $70 Million was being pledged by Spectrum for the building, so there would be no need for MSU to pay the full price tag. Secondly, there's no way you can build a 120 - 180,000 sf medical research/academic building for $15 Million.

[numstead]

3:00 PM today mgreven.

As far as the $15 Million goes, WZZM explained the memo a little better than WOODTV. The wording said "MSU will pay RDV and Christman an amount NOT TO EXCEED $15 Million for the building, and NOT TO EXCEED $26 Million for the parking structure. But remember, $70 Million was being pledged by Spectrum for the building, so there would be no need for MSU to pay the full price tag. Secondly, there's no way you can build a 120 - 180,000 sf medical research/academic building for $15 Million.

it's possible that they are buying the tower as a "white box" or even just "core and shell" (meaning that the building is unfinished on the inside and the tenant has a separate budget to finish the interiors to their level of need) at that price tag and will spend the rest on the equipment thats going inside. This happens with most developer buildings.

[NorthEnder]

3:00 PM today mgreven.

As far as the $15 Million goes, WZZM explained the memo a little better than WOODTV. The wording said "MSU will pay RDV and Christman an amount NOT TO EXCEED $15 Million for the building, and NOT TO EXCEED $26 Million for the parking structure. But remember, $70 Million was being pledged by Spectrum for the building, so there would be no need for MSU to pay the full price tag. Secondly, there's no way you can build a 120 - 180,000 sf medical research/academic building for $15 Million.

So MSU pays $15M for the building, and Spectrum pays $70M for the building, resulting in an $85M building?

[GRDadof3]

it's possible that they are buying the tower as a "white box" or even just "core and shell" (meaning that the building is unfinished on the inside and the tenant has a separate budget to finish the interiors to their level of need) at that price tag and will spend the rest on the equipment thats going inside. This happens with most developer buildings.

Thanks golscorer, exactly my point. I think there is more to the $15 Million than meets the eye.

Oh, and looking at the WZZM story again, it states about the parking ramp "100 to 360 parkings spaces, not to exceed $26,900". I wonder if that is per space. If so, that doesn't equal $26 Million. And even for 360 spaces, they are getting robbed at $26 Million. I think there have been some errors in the reporting by WOODTV.

http://www.wzzm13.com/news/local/grmetro_a...x?storyid=68676

So MSU pays $15M for the building, and Spectrum pays $70M for the building, resulting in an $85M building?

That's what I'm thinking Northender, or something similar to that scenario.

[Prankster]

So MSU pays $15M for the building, and Spectrum pays $70M for the building, resulting in an $85M building?

Is the $70 million Spectrum kicking in for building only? I thought that it was mainly for faculty, endowment, etc.

[GRDadof3]

Is the $70 million Spectrum kicking in for building only? I thought that it was mainly for faculty, endowment, etc.

Eh, my mistake Prankster. $55 Million for the structure, $30 Million for medical research support.

http://www.devoschildrens.org/?s=11&ni...F36A472EF9EC7F8

$55 Million from Spectrum + $15 Million from MSU = that magic $70 Million building everyone keeps referring to.

[NorthEnder]

$55 Million from Spectrum + $15 Million from MSU = that magic $70 Million building everyone keeps referring to.

Suprised the stupid news could ever make it that succinct.

55+15=70m.

I really like all of the progress, but it's SO grating to hear some of the local media get so entirely excited for these projects they just make up details, or don't do the legwork on them. (Insert Geha - rivergrand here.)

[mgreven]

"Urban Planet...for when you need to decipher the confusing GR media reports!"

Thanks for the answers...we really have to wait until 3:00pm? =)

Edited January 18, 2007 by mgreven