Business

Update: Path Smoothed for Gilbert to Build 2 Towers on Monroe Block Downtown


December 01, 2016, 7:18 AM

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Dan Gilbert (file photo)

Update, 7:15 a.m. Thursday: The Downtown Development Authority (DDA) on Wednesday approved a land sale that clears one hurdle for Dan Gilbert's Bedrock development company to proceed with major plans on Monroe Block, a large stretch of mostly unused of land bounded by Monroe, Bates, Cadillac Square and Randolph, The Detroit News reports.

Preliminary plans are for a 20-story office tower and 16-story residential tower, along with at least 60,000 square feet of ground floor retail space, Ian Thibodeau and Louis Aguilar write.

In a follow-up article, Aguilar notes that the envisioned plans are not a fully assured deal:

Bedrock wants state legislators to give such projects tax breaks, or else the plans may have to be downsized. 

 His reporting partner, Thibodeau, tweets that all design plans are preliminary and still need OKs from the DDA and City Council.

Original article, Tuesday night:

Bedrock real estate mogul Dan Gilbert continues to  plan downtown Detroit developments at a rapid clip.

The latest: proposal is a large development on the Monroe Block in downtown Detroit, which calls for at least 20 stories of office space and a residential development wrapped around the building, Kirk Pinho writes for Crain's Detroit Business.

The Detroit Downtown Development Authority hears details Wednesday afternoon.

Gilbert, dubbed a member of the downtown oligarchy last week by Ron Fournier of Crain's, voices concern about a need for office space downtown.  


Read more:  Crain's Detroit Business


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