Dan Gilbert's Bedrock announces 4 new developments in downtown Detroit

Dan Gilbert's Bedrock announces 4 new developments in downtown Detroit”

Gilbert made the announcement on Wednesday, declaring "Detroit is going vertical". "Not only will it produce thousands of new jobs and opportunities for Detroiters, it will reshape the city's skyline and attract even more re-investment in Detroit".

"We're gonna do great things, we're just starting". We're just scratching the surface.

Gilbert, who owns more than 95 properties in and around downtown, said he "thought (he) was in an alternative universe" when large consulting firms offered to donate their time to the recruitment effort.

"I think Detroit is a legit contender to win over Amazon", Gilbert, the founder and chairman of Quicken Loans Inc. and Rock Ventures LLC, said during an event announcing that four of his downtown development and redevelopment projects will vie for new state tax incentives and create up to 9,000 permanent jobs and 15,000 construction jobs.

The Monroe Blocks development will total $830 million and includes a 35-story, 814,000 square-foot building with office space, 482 residential units, space for restaurants and retail shops, and three public plaza areas. He was joined by Detroit Mayor Mike Duggan, Detroit City Councilman Scott Benson and other officials.

"I understand that in Seattle, there are a number of Canadian employees and Canadian partnerships so Amazon is not just a USA company, so we'll see", Duggan said earlier this week. The $900 million plans would develop the tallest tower in the city. Third would be a $313 million renovation of the Book building and tower and would bring in 577 residential units.

Rendering of Urban Square
Rendering of Urban Square

"Healthier workers create a healthier downtown and a healthier downtown creates healthier neighborhoods".

"Gilbert has until October 19 to submit the bid, Duggan said, adding ".

The final project site - One Campus Martius - will include a $95 million expansion to create an additional 310,000 square footage for office space.

Asked by a Detroit Free Press reporter Wednesday on what the proposal would look like, Duggan said, "Let's pitch them before we share it with you".

Gilbert says the addition to campus Martius should be done in about two years and all four projects should be done in five.

Like this


21 September 2017
Ravens delete controversial Queen tweet
But, Baltimore coach John Harbaugh said on Wednesday: "I think it's important to remember that ravens do guard the Tower of London".

21 September 2017
Analyst Stock Recommendations For Physicians Realty Trust (DOC), PICO Holdings, Inc. (PICO)
ValuEngine lowered shares of Piedmont Office Realty Trust from a "buy" rating to a "hold" rating in a research note on Wednesday. The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. (NYSE:PDM) for 18,878 shares.

21 September 2017
Teradata Corporation (NYSE:TDC) Experiences Heavier than Usual Trading Volume
Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in Teradata Corporation during the 1st quarter valued at $201,000. BidaskClub cut shares of Teradata Corporation from a "buy" rating to a "hold" rating in a research note on Saturday, July 8th.

21 September 2017
Google launches £1m fund to fight terrorism
Prime Minister Theresa May wants technology companies to be more proactive in shutting down spaces where extremist ideology is shared.

21 September 2017
Reliance Jio Phone Delivery Date Extended To October 1st
The pre-order for JioPhone started on August 24 but was stopped due to heavy demand and enormous response from the public. Now as per the latest reports, Reliance Jio Phone Delivery Date is not September 21st, it is taking one more week.

21 September 2017
Analogic Corporation (ALOG) to Issue $0.10 Quarterly Dividend
Renaissance Technologies LLC acquired a new stake in shares of Analogic Corporation in the 1st quarter valued at about $1,252,000. The value of the total investment in Analogic Corporation went from $114,000 to $341,000 a change of $227,000 quarter to quarter.

21 September 2017
Solano, Aegis Juris frat boys now persons of interest
He was to go to class and attend the welcoming rites of Aegis Juris, a fraternity recognized by the school. He was found by his family at a funeral home with hematoma and candle drips before dawn Monday.

21 September 2017
America Apartment Communiti (NYSE:MAA) Sees Unusual Trading Volume in Its Shares
The rating was downgraded by SunTrust to "Neutral" on Friday, January 22. (NYSE:RJF) on Monday, October 26 to "Buy" rating . Its down 0.10, from 1.17 in 2016Q3. 103.18 million shares or 42.29% more from 72.51 million shares in 2016Q3 were reported.

21 September 2017
Valero Energy Corporation (NYSE:VLO) Upward Momentum Touches New Heights
It also reduced Arcelormittal Sa Luxembourg Ny Registry Sh (NYSE:MT) stake by 916,740 shares and now owns 270,066 shares. Finally, Eads & Heald Investment Counsel lifted its stake in Valero Energy Corporation by 0.3% during the 2nd quarter.

21 September 2017
Anadarko Petroleum to buy back shares worth $2.5 bln
The oil and gas development company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.42). Anadarko Petroleum Corp said on Wednesday that its board had authorized a $2.5 billion share repurchase program through 2018.