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Gallery on Fulton


civitas

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We've been treated to oodles of pretty designs for this corner......

The design has remained fairly consistent, but no momentum seems to develop with any of the proposals. What's holding all of these up? Trouble finding a lead retail tenant with adequate funding? No demand for the residential portion?

...

Thanks for the summary! Maybe some ad hoc use should move in...peace protestors? Sports souvenirs? (When one of the pro teams in Detroit is doing well, just about every gas station sprouts an EZ-Up canopy merched out with shirts and stuff.) Arts?

Hey, if running and cycling event organizers can stage an event on a not-quite-open new highway...

Edited by Veloise
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So does this mean we're finally going to see some action? Do you know what was mentioned in their "bag of tricks"?

It'd be nice to see this get off the ground. I think Apartments would do really well.

Joe

The meeting with the DDA was set up to see what they had in their "bag of tricks" that could help move this development along. Sounds like closing will be finished in February (with the amount of approval paperwork that needs to be done).
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I think this is a terrible place for UICA... That being said anything is better than nothing

How is being at the intersection of Division and Fulton terrible compared to where UICA is at now? Division and Fulton is a busy gateway into Downtown so the exposure would be awsome. Added to that, the Heartside stretch of Division is being made into the Avenue of the Arts. Who better to have anchoring that avenue than UICA?

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So does this mean we're finally going to see some action? Do you know what was mentioned in their "bag of tricks"?

It'd be nice to see this get off the ground. I think Apartments would do really well.

Joe

The DDA has a couple of different redevelopment incentives available for qualifying projects (BRIP, TIF). I don't know specifically which ones were looked at. I think it was the DDA's way of stepping forward and helping things along.

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How is being at the intersection of Division and Fulton terrible compared to where UICA is at now? Division and Fulton is a busy gateway into Downtown so the exposure would be awsome. Added to that, the Heartside stretch of Division is being made into the Avenue of the Arts. Who better to have anchoring that avenue than UICA?

Its not so much that that spot is terrible for UICA as much as UICA is terrible for that spot. I would like something a little more high profile than a movie theatre that is rarely frequented. Ive gone to a few films there and more often thant not im the only one in theatre (apart from whoever i go with )

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I agree that this new rendering looks excellent, and also that the UICA probably isn't the best use for this site. I suspect that the UICA is the only credible tenant they have lined up, however, and that they need a bit more than that to get this project going. The location would actually be nice for Schuler's had they not already opened up on Monroe Center. Some sort of retail anchor with two floors and lights on until 9 pm or later would be great.

The location would probably be great for the UICA to generate some more interest, but the reason I don't like the idea is that it seems a little desperate. The Avenue for the Arts idea is great and all, but it doesn't strike me as a way to create a sustainable business district. We need some meat and potatoes downtown, not just the desert.

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I agree that this new rendering looks excellent, and also that the UICA probably isn't the best use for this site. I suspect that the UICA is the only credible tenant they have lined up, however, and that they need a bit more than that to get this project going. The location would actually be nice for Schuler's had they not already opened up on Monroe Center. Some sort of retail anchor with two floors and lights on until 9 pm or later would be great.

The location would probably be great for the UICA to generate some more interest, but the reason I don't like the idea is that it seems a little desperate. The Avenue for the Arts idea is great and all, but it doesn't strike me as a way to create a sustainable business district. We need some meat and potatoes downtown, not just the desert.

I might get shot for this but how about a walgreens? I think thats a great spot for one.

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According to the Business Journal today, it sounds like the DDA is going to try and help this development along on two fronts:

) Purchase the land itself and then resell the land to the Two West Fulton developers at more favorable terms. The DDA hopes to buy the land at their Jan. 9th meeting.

) Provide matching funds for the project's State Brownfield Tax Credits

UICA has now raised $3 Million of the $6.8 Million they need to make the move (less than a year old campaign) and will take up 37,000 square feet of space. There will be additional retail space along Division. Rents in the 66 apartments will be in the $1.60/sf range.

http://www.grbj.com/GRBJ/ArticleArchive/20...The+Gallery.htm

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According to the Business Journal today, it sounds like the DDA is going to try and help this development along on two fronts:

) Purchase the land itself and then resell the land to the Two West Fulton developers at more favorable terms. The DDA hopes to buy the land at their Jan. 9th meeting.

) Provide matching funds for the project's State Brownfield Tax Credits

UICA has now raised $3 Million of the $6.8 Million they need to make the move (less than a year old campaign) and will take up 37,000 square feet of space. There will be additional retail space along Division. Rents in the 66 apartments will be in the $1.60/sf range.

http://www.grbj.com/GRBJ/ArticleArchive/20...The+Gallery.htm

Those will have to be the most expensive rents in Metro GR.

If the DDA was willing to help, why did they wait so long? And how did they pick this project to help instead of Tall House or other residential projects?

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Those will have to be the most expensive rents in Metro GR.

If the DDA was willing to help, why did they wait so long? And how did they pick this project to help instead of Tall House or other residential projects?

I don't know, Plaza Towers was pretty expensive when I checked it out last (about 8 - 10 years ago :P ) and I can't imagine it has come down in price.

I think the DDA is helping Tall House (I think the DDA even owned the land at one point), but I can't say for sure. (edit: their project checklist says that they are providing development support for Tall House). 240 Ionia is not within the DDA's boundaries. Neither is the Fitzgerald or Icon. They are providing support for River House. In my opinion, if you're a developer and you have a project in the works, but you might need some incentives to get the numbers to work, you should be banging on every door at the city seeing what is available.

The idea of buying land by the DDA and then selling it back to developers at lower prices is something I mentioned in the Azzar/Kendall Bldg discussion as a way to make more projects on more parcels more viable.

BTW: Sam Cummings says they WILL have a Spring ground-breaking IF the DDA can make the incentives work. I think all DDA incentives have to be approved by the City Commission.

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I think the DDA is helping Tall House (I think the DDA even owned the land at one point), but I can't say for sure. (edit: their project checklist says that they are providing development support for Tall House). 240 Ionia is not within the DDA's boundaries. Neither is the Fitzgerald or Icon. They are providing support for River House. In my opinion, if you're a developer and you have a project in the works, but you might need some incentives to get the numbers to work, you should be banging on every door at the city seeing what is available.

The idea of buying land by the DDA and then selling it back to developers at lower prices is something I mentioned in the Azzar/Kendall Bldg discussion as a way to make more projects on more parcels more viable.

BTW: Sam Cummings says they WILL have a Spring ground-breaking IF the DDA can make the incentives work. I think all DDA incentives have to be approved by the City Commission.

I'm still not sure this passes the smell test. All the original bidders for this land operated under the same set of circumstances and included a purchase price in their offers. Now the circumstances have changes pretty significantly. If the DDA was going to help, their incentives should have been defined in the original offering memorandum.

Whatever though, I just hope something gets built here before the end of the decade.

And hopefully the current developers have approached CVS about being a tenant. I don't see why CVS would go into this deal with Rockford, but not anyone else. Unless the drive through really was a deal breaker.

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This is great news. Good to see the DDA stepping up to the plate to help get more development going. GRDad, I love your idea of getting the Keeler and Kendall building out of Azzar's hands and back into the development pool (the same would go for the building between Richmond Stamp and Tannery Row). It'd be nice if their were special programs set up to do this (blight removal?).

Joe

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I'm still not sure this passes the smell test. All the original bidders for this land operated under the same set of circumstances and included a purchase price in their offers. Now the circumstances have changes pretty significantly. If the DDA was going to help, their incentives should have been defined in the original offering memorandum.

Whatever though, I just hope something gets built here before the end of the decade.

And hopefully the current developers have approached CVS about being a tenant. I don't see why CVS would go into this deal with Rockford, but not anyone else. Unless the drive through really was a deal breaker.

I think the circumstances and market have changed so much from the original RFP two years ago that new avenues are warranted. I really don't think either of the other two developers are sleepless at night wishing they still had a shot at this corner. The one developer had to scrap 240 Ionia and is looking at a redesign, and Rockford still has a boarded up old hotel at Commerce at Oakes that they haven't redeveloped yet (and it does sit within the current DDA boundaries and could also probably qualify for assistance). I think Two West Fulton thought they could do it without the DDA's assistance, and apparently everyone is rethinking that philosophy. :dontknow:

I agree Joe that I think it's great news. I feel like this project is closer than ever to being a reality.

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  • 3 weeks later...

The city is also setting a public hearing for the Brownfield Amendment on this project for Feb. 5th. Initial cost was estimated at $20 Million, and new estimates are $34 Million, including $9 Million for the 278 space parking ramp.

I think they are still on track to close on the property shortly afterward if approved, and commence construction.

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How is being at the intersection of Division and Fulton terrible compared to where UICA is at now? Division and Fulton is a busy gateway into Downtown so the exposure would be awsome. Added to that, the Heartside stretch of Division is being made into the Avenue of the Arts. Who better to have anchoring that avenue than UICA?

On the flip side of that, what is wrong with the UICA's current location? It's basically on the Avenue of the Arts already and closer to the avant garde section of it than this would be. The current spot is a really great facility and they don't have to worry about becoming the mainstream draw they would need to become to support a cornerstone development.

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