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  #2901  
Old Posted Feb 27, 2015, 4:03 AM
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Apartment building proposed in West village.

West Village Catches Apartment Fever; 63 Units Proposed





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  #2902  
Old Posted Feb 27, 2015, 2:12 PM
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My second home is half a block from this. Crazytown.
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  #2903  
Old Posted Mar 1, 2015, 1:06 PM
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A bit more info on the quiet resurgence taking place in the Villages.




This short film also focuses on what often is going unnoticed in other neighborhoods of Detroit. Although progress may be slow coming, certainly slower than that of downtown, there are groups making due with the resources they have.



Last edited by animatedmartian; Mar 1, 2015 at 1:27 PM.
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  #2904  
Old Posted Mar 1, 2015, 3:30 PM
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The most interesting man in the world making moves in the city.

Quote:
Developing a strategy: Packard Plant owner eyes bids for historic downtown buildings



Over breakfast at the Inn on Ferry Street in Midtown, Fernando Palazuelo slides salt and pepper shakers across the table like chess pieces. They are a representation of his Detroit real estate strategy.

Yes, he says, he's getting ready to make a series of big moves.

The new owner of the 3.5 million-square-foot Packard Plant on the city's east side has much broader ambitions for his portfolio in the city, which first took notice of him in 2013 when he bought the shuttered plant — all 47 buildings, all 40 acres — for a mere $405,000 at a Wayne County tax foreclosure auction.

Palazuelo is a native of Spain who has been developing historic but dilapidated sites in Peru since losing everything in the recession. He said in an interview with Crain's last week that he plans to make offers to buy five of greater downtown's most storied buildings: the 255,000-square-foot Book Tower and adjoining 260,000-square-foot Book Building; the 996,000-square-foot Penobscot Building; and the Albert Kahn Building and Fisher Building in the New Center Area, which total 925,000 square feet.

But whether he's actually successful in buying them is anybody's guess.

While Palazuelo said he has private equity money available to him as investment partners, he's publicly pursuing properties that are mostly not actually for sale.

...


At the Packard Plant, Palazuelo envisions a mixed-use development unfolding over the next 10 to 15 years with as many as a dozen individual projects. Rough project cost estimates are $120 per square foot, or $420 million, he said.

The first project is slated to include the 150,000-square-foot former administrative building. Palazuelo expects the financing sources to be identified, and licenses and approvals will be received by August, and that construction could begin shortly thereafter.

...
http://www.crainsdetroit.com/article...s-for-historic
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  #2905  
Old Posted Mar 1, 2015, 4:05 PM
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Quote:
Originally Posted by animatedmartian View Post
A bit more info on the quiet resurgence taking place in the Villages.




This short film also focuses on what often is going unnoticed in other neighborhoods of Detroit. Although progress may be slow coming, certainly slower than that of downtown, there are groups making due with the resources they have.


Great info, thanks for sharing.
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  #2906  
Old Posted Mar 1, 2015, 4:58 PM
jonathan.jam jonathan.jam is offline
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I was just coming here to post that article about Palazuelo. This really is interesting news, and I think he could do great things with any of the properties if he is successful.--My hopes are on the Book Tower right now!

And thank you for posting those videos. The first one was especially great!
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  #2907  
Old Posted Yesterday, 11:33 AM
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Quote:
Originally Posted by animatedmartian View Post
The most interesting man in the world making moves in the city.
I see the guy must've suffered in Spain. Real estate was booming over there prior to the recession (and the Spanish standards of living were proudly catching up on those of the somewhat arrogant French), then it all shockingly collapsed, a disaster. I guess that's an interesting experience he went through. His obsession for mixed-use is fine anyway.
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