Economy

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.



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