Dan Gilbert’s Detroit-based commercial real estate firm Bedrock is actively working on four projects in downtown Detroit. The sites include the redevelopment of the historic Hudson’s site, development of the Monroe Block, restoration of the Book Tower, and expansion of One Campus Martius.
The historic Hudson’s site is projected to be completed in 2023. Set between Woodward Avenue and Farmer Street, just north of Gratiot Avenue, the project will likely include a hotel in a planned tower (a departure from residences), and around 30,000 square feet of retail spaces. In spring 2020, the ground level garage structure is expected to be completed.
“Work on the Hudson’s site is moving full speed ahead on the foundation, structural core, and parking garage,” says Joe Guziewicz, vice president of construction for Bedrock. “Construction will reach ground level in spring 2020. We are currently in active discussions with potential hotel partners to deliver a flagship hotel in the tower (along with an) expanded public space between the podium and tower that will be programmed for performances and events.”
In other news, Bedrock’s development team for the Monroe Block, just east of Campus Martius Park, have extended the design period, though construction is expected to start shortly. The project will feature a landmark mixed-use development designed to attract businesses and talent to Detroit. The project is expected to be completed by 2022, and Bedrock is already speaking with brokers about pre-leasing opportunities for office and retail tenants.
The restoration of the Book Tower along Washington Boulevard, at Grand River Avenue, is also expected to be completed by 2022. At this time, the exterior restoration is nearly complete, while the interior renovation is ongoing.
For the exterior restoration, 2,483 historically-accurate replacement windows have been installed and the caryatid sculptures have been fully restored. For interior restoration, plans are in place to fully restore the historic art glass skylight on the third floor of the building. Bedrock says a hotel is a strong possibility for the Book Tower space. Other potential uses include office, retail, and residential spaces.
The expansion of One Campus Martius (formerly Compuware Building) is expected to be completed ahead of schedule. Currently, 60 percent of the expansion is done, and the rest is expected to be finished by the end of the year. The new area will offer 310,000 square feet of office space and 27,000 square feet of rentable event space.
Together, the four projects will add 3.2 million square feet of office, residential, retail, hospitality, and event space to the downtown Detroit market.
