  Deandub11 Member Username: Deandub11 Post Number: 208 Registered: 05-2006 |
Has this been posted yet? The Northern Group is really grabbing the gusto in this grand city of ours. http://www.detnews.com/apps/pb cs.dll/article?AID=/20080115/B IZ/801150426/1361 | ||
Lefty2 Member Username: Lefty2 Post Number: 914 Registered: 07-2007 |
Damn Yankees, how dare they buy trophy properties and do something nice with them while we stand here and just look at them. The Northern Group, based in New York, has been acquiring landmark Detroit properties, including the Alden Park Towers apartments, the Penobscot Building and Cadillac Tower. | ||
Deandub11 Member Username: Deandub11 Post Number: 209 Registered: 05-2006 |
Lefty your post provides a prime example as to why our historically provincial attitude just will not work anymore. The entrepreneurial spirit that once dominated the landscape of Detroit has waned. We need to invite others to continue to invest in our city and state. Homegrown investors and entrepreneurs may be preferred, but as of now, we cannot do this on our own. | ||
Detroitstar Member Username: Detroitstar Post Number: 873 Registered: 01-2006 |
I loved my stay at Lafayette Towers from 2006 through 2007. The habitat Company did a great job with the property, and their management was top notch. Hopefully Northern will take care of the property in that same way. | ||
Focusonthed Member Username: Focusonthed Post Number: 1607 Registered: 02-2006 |
I assume Lefty was joking. | ||
Johnlodge Member Username: Johnlodge Post Number: 4610 Registered: 10-2003 |
The Northern group is going to make other investors/developers take notice, and start to feel like they must be missing out on something. I wouldn't be surprised if we see some other large groups trying to get in on the action soon. Detroit Rises. | ||
Deandub11 Member Username: Deandub11 Post Number: 210 Registered: 05-2006 |
Yea, maybe I wasnt clear. I understand lefty was joking, but in general, we have been sitting around looking at some of these buildings. Not necessarily in reference to buying Lafayette towers, as habitat was doing a nice job, but i like the proactive approach northern group is taking to the city while others are watching. www.detroitarmy.com | ||
Jdkeepsmiling Member Username: Jdkeepsmiling Post Number: 321 Registered: 01-2006 |
I like how in their press release Northern cited the strong demand for Arden Park as an impetus to purchase Lafayette. I would gather we are going to see some more apartment construction on the riverfront/CDB soon. I could even see another complex somewhere in Lafayette Park. | ||
Spitty Member Username: Spitty Post Number: 654 Registered: 07-2004 |
I was thinking they acquired the Lafayette Building until I read a little further. Is this exciting news to anyone here? Is the Pavillion part of Lafayette Towers or is that a separate entity? What changes can we expect? | ||
Lefty2 Member Username: Lefty2 Post Number: 919 Registered: 07-2007 |
I was being facetious. At least someone has dry humor here. | ||
Lefty2 Member Username: Lefty2 Post Number: 920 Registered: 07-2007 |
The Urban Surge is working | ||
Deandub11 Member Username: Deandub11 Post Number: 211 Registered: 05-2006 |
No lefty trust me, we get it. The sarcasm coming from you was sarcasm for a reason. The point of sarcasm is to make a commentary on something, which in this case, is the sometimes overbearing attitude here. That is what I was responding to, but I digress. Anyway, the only reason that this is a big deal is that in the big picture, Northern group has made a lot of noise, especially recently, in Detroit. This means that someone, from out of state thinks there is money to be made and if others do not see this already, maybe this will help them see. | ||
Detroitstar Member Username: Detroitstar Post Number: 874 Registered: 01-2006 |
Spitty,I moved from Lafayette Towers to The Pavilion a few months back... The two properties are independently run, but because both were run by The Habitat Company, they were run in very similar fashion. When I moved, by utility account was not closed, just transferred. | ||
Lefty2 Member Username: Lefty2 Post Number: 921 Registered: 07-2007 |
No Deandub11, what I meant was that Detroit is a great place to invest and out of state investors see potential while many locally stand by and do nothing. Get it. | ||
Deandub11 Member Username: Deandub11 Post Number: 212 Registered: 05-2006 |
Thats what I just said. Nevermind...I was commending you on your point and adding to it. GOOD POINT LEFTY | ||
Johnlodge Member Username: Johnlodge Post Number: 4614 Registered: 10-2003 |
I GET IT NOW. Deandub was agreeing with Lefty's sarcasm, but it sounded like Deandub was taking Lefty's comments seriously. Deandub was in essence saying "Yes, the type of person Lefty is making fun of is exactly the problem". Phew. | ||
Detroitstar Member Username: Detroitstar Post Number: 875 Registered: 01-2006 |
But Who's on 2nd... | ||
Michigansheik Member Username: Michigansheik Post Number: 257 Registered: 09-2005 |
the alden towers just got new windows after northern bought it, so i think they plan to maintain their residential properties. | ||
Neilr Member Username: Neilr Post Number: 639 Registered: 06-2005 |
As an aside to this thread: Detroit's Alden Park Manor was the just first of three Alden Park Manors built between 1921 and 1929. The others are in Brookline, Mass. and Philadelphia, PA. They were built by a Chicago businessman, C. C. Mitchell and his partner, Kenneth DeVos, a Detroit contractor. Detroit's Alden Park was considered to be our most luxurious apartment house when it was built in 1921. | ||
Artistic Member Username: Artistic Post Number: 83 Registered: 09-2006 |
Fantastic news for the city of Detroit! Again!! Detroit continues to attract the attention of the big boys outside this area. | ||
Broken_main Member Username: Broken_main Post Number: 1407 Registered: 06-2005 |
I think we all need to start believing, if it is built, people will come. The tax base has got to increase to the point where city services can then be upgraded. Kudos, to those that take a chance in this great city of ours!! | ||
Supergay Member Username: Supergay Post Number: 123 Registered: 05-2006 |
OK wait, what do you mean, if it is built, people will come? In regards to Lafayette Towers?? This place has high occupancy - have you ever been here? I *was* built, 50 years ago, and people came. And came. | ||
Mackinaw Member Username: Mackinaw Post Number: 4357 Registered: 02-2005 |
I'm pretty sure Broken_main knows what the Lafayette Towers are. That was a general statement. It will be interesting to see if they introduce any tweaks to LP. This company is investing in Detroit in a big way, and I'm really happy to hear of the success of the beautiful Alden Park towers (a truly Manhattan-esque building that would easily catch their attention.) I think the Northern Group is an entity to watch as a potential east riverfront developer in 5-10 years. | ||
Downtown_remix Member Username: Downtown_remix Post Number: 583 Registered: 03-2007 |
Im hoping @WATER AND WATERMARK benefit in this changing trend in downtown living 1. Habitat took over Trolley Plaza and preping to pump serious dollars in rehab. Grand Opening Of Washington Square Apts taking place in March. 2. Oct premiere of the Book Cadillac Condos. 3. Fort Shelby premier in late Oct with 72 APARTMENTS FOR RENT. 4.Greektown casino owners buy 1001 woodward. 5. Cadillac center!••••• 84 loft apartments right in the park net to Hard Rock. | ||
1953 Member Username: 1953 Post Number: 1523 Registered: 12-2004 |
I am getting concerned that so much of our best real estate is in the hands of one company. They do seem to be a good company, but there is always a risk that they will make bad decisions collectively and endanger the last vestiges of Detroit's former glory. | ||
Danny Member Username: Danny Post Number: 6975 Registered: 02-2004 |
I'm glad that Lafayette Project was not a just low income doomed to failure govt' housing like Chicago's Cabrini Green and Robert Taylor Homes. If The project was built as low income govt' housing. Sooner or later there would be gangs, turning the projects into DRUGS "R" US and a wild west shootout all in one. | ||
Downtownguy Member Username: Downtownguy Post Number: 113 Registered: 07-2004 |
I'm glad to see the shift in focus from condos to rentals. With the mortgage crisis and slowdown in the economy, I think The Northern Group is wise to stick with rentals for now. The biggest promise for Detroit in the near term is for 20 somethings and 30 somethings to locate here. Rentals may be more appealing for them. | ||
Cman710 Member Username: Cman710 Post Number: 407 Registered: 07-2006 |
For those interested, the Alden Park Manor in Brookline, MA is now the Longwood condominiums: http://www.longwoodcondominium s.com/ The site for the Philadelphia one is www.aldenpark.net | ||
Lefty2 Member Username: Lefty2 Post Number: 933 Registered: 07-2007 |
DT Guy, I think you are right; nice rentals to get PEOPLE IN to spend money and generate some momentum. Then demand may build for empty nestors, startup families who want to work and live DT. |
