Billk Member Username: Billk
Post Number: 56 Registered: 09-2005
| Posted on Tuesday, July 31, 2007 - 2:15 pm: | |
So who owns the land under it that collects the $8000 a month rent. |
Dougw Member Username: Dougw
Post Number: 1833 Registered: 11-2003
| Posted on Tuesday, July 31, 2007 - 3:11 pm: | |
3wc is basically right that the Stott Tower doesn't have much viability as office space. It can hopefully limp along with a few tenants as it is now for a while longer. But I do think it has good future viability as condos, as the downtown residential market moves forward. A beautiful building, quite tall with spectacular views near the top, lots of windows, located right near Woodward & Campus Martius... these are all valuable assets for residential space. I would bet $300 that it will be at least half-filled with condos within 10 years. |
Psip Member Username: Psip
Post Number: 1985 Registered: 04-2005
| Posted on Tuesday, July 31, 2007 - 3:32 pm: | |
Anyone have any idea what the rent is there? Is it legal to a have your office there and also have a small apartment in the same space? Just wondering. |
3rdworldcity Member Username: 3rdworldcity
Post Number: 825 Registered: 01-2005
| Posted on Tuesday, July 31, 2007 - 6:02 pm: | |
BillK: The owner of the land in 1979 was a Canadian insurance company which held it in it's real estate investment portfolio. It sold the land and the building not too long after it gained title to the building. As far as I know PSIP it's legal to have residential in an office building as a lesser included use. I'm not to up on current zoning law but I believe that to be the case as long as the residential space complies w/ the residential requirements of city ordinances (ingress/egress, bathroom facilities etc) |
Wschnitt Member Username: Wschnitt
Post Number: 25 Registered: 07-2007
| Posted on Wednesday, August 01, 2007 - 2:38 pm: | |
I doubt this will happen. |
Charlottepaul Member Username: Charlottepaul
Post Number: 1345 Registered: 10-2006
| Posted on Wednesday, August 01, 2007 - 2:43 pm: | |
"Another alternative would be to build garage space around its base somewhere. Does anybody know anything about the building that appears to wrap around both sides of it?" The only thing that I ever learned about it is that both the facade on Griswold and State used to have matching art deco facades. |
Miketoronto Member Username: Miketoronto
Post Number: 603 Registered: 07-2004
| Posted on Wednesday, August 01, 2007 - 8:50 pm: | |
I disagree that buildings like the Stott are impractical for modern offices or condos. Not all office space has to be class AAA space. With wiring for computers I am sure it would be fine for offices. There are countless old office towers still used today that are choice areas to locate a business. One only need to look at the Penobscott. It is all in the will of the owners. But don't tell me office changed that much that reno for modern things can not help the building. |
3rdworldcity Member Username: 3rdworldcity
Post Number: 833 Registered: 01-2005
| Posted on Wednesday, August 01, 2007 - 10:30 pm: | |
Computer wiring isn't the problem. It's all the other things I pointed out above. The Penobscot is and has for the past 12 - 15 years been a huge financial disaster. It's had at least 4, maybe more, owners in the last 12 years. All out-of-state owners who couldn't believe they were lucky enough to buy the thing so "cheaply." The greater fool theory at work. Every owner lost a LOT of money. Miketoronto, what you say about older buildings is probably true for Toronto, a booming office market as the financial capital of Canada. Love the place. But you're way off when analyzing what should work in Detroit. Detroit should be a case study for a Real Estate 101 class at a major business school. |
Apbest Member Username: Apbest
Post Number: 600 Registered: 03-2006
| Posted on Wednesday, August 01, 2007 - 11:00 pm: | |
THat fortunate of the Penobscot has changed recently from what I understand, correct? in that it is now a profitable and classy office establishment |
3rdworldcity Member Username: 3rdworldcity
Post Number: 835 Registered: 01-2005
| Posted on Wednesday, August 01, 2007 - 11:17 pm: | |
Apbest: Dream on. It just lost its largest tenant recently, The Legal Aid and Defenders Association, and I haven't heard they have had any success in renting any of the space. It's a financially marginal building at best. |
Wilus1mj Member Username: Wilus1mj
Post Number: 210 Registered: 05-2005
| Posted on Thursday, August 02, 2007 - 2:46 pm: | |
Stay Classy Penobscot.... |
Atperry Member Username: Atperry
Post Number: 266 Registered: 12-2004
| Posted on Sunday, August 12, 2007 - 11:34 pm: | |
http://wdetfm.org/detroittoday /entry.php?entry=160 Looks like the Stott will be the subject of discussion tomorrow on "Detroit Today" |
Rjlj Member Username: Rjlj
Post Number: 375 Registered: 11-2003
| Posted on Sunday, August 12, 2007 - 11:52 pm: | |
Agreed Miketoronto. People who say the Stott can't be offices have no clue and have never ventured outside of Detroit to other cities who have buildings of the same vintage that are currently occupied. The problem is downtown Detroit does not have enough businesses to occupy it, hence the state that downtown is in right now. |
Mackinaw Member Username: Mackinaw
Post Number: 3568 Registered: 02-2005
| Posted on Sunday, August 12, 2007 - 11:58 pm: | |
Thanks for posting that, Atperry. |
Charlottepaul Member Username: Charlottepaul
Post Number: 1438 Registered: 10-2006
| Posted on Monday, August 13, 2007 - 12:49 am: | |
Hey Atperry, what is the pic in that article of? That is def. not the Stott. |
Apbest Member Username: Apbest
Post Number: 602 Registered: 03-2006
| Posted on Monday, August 13, 2007 - 1:10 am: | |
it looks like the lego model of the stott, if you look closely you can see the lego pieces. (Message edited by apbest on August 13, 2007) |
Mdoyle Member Username: Mdoyle
Post Number: 168 Registered: 10-2006
| Posted on Monday, August 13, 2007 - 1:44 am: | |
Ill be informing Jim Garrett that theyre really starting to mistake his lego models for the real deal. |
Aiw Member Username: Aiw
Post Number: 6339 Registered: 10-2003
| Posted on Monday, August 13, 2007 - 8:23 am: | |
quote:Marusich Architecture - A Limited Liability Company Established in 1994 formerly as ArchiCivitas Architects LLC. Transitioned to Maurisich Architecture LLC in 2005. FIRM HISTORY Marusich Architecture is a full service architectural and engineering firm with a history of fourteen years of dedication and service providing responsible Architecture and Urban Design to the City of Detroit and it’s metropolitan region. John Marusich was the Senior Principal, Director of Design, and Architect of Record, Partner for the former ArchiCivitas Architects (1993-2004). John transitioned the ArchiCivitas firm and the history of practice and project work into Marusich Architecture LLC in 2005 upon the final former partner leaving ArchCivitas to pursue a specialty historic preservation practice. John Marusich, Principal, has many years of project experience with established firms in the Detroit Metropolitan Area. Project experience ranges from custom single family and multi-family housing to retail, hospitality, corporate and medical offices, adaptive reuse and new construction, charter, public, and private schools, church renovations, and historic restoration. Mr. Marusich also has over 13 years university level teaching experience at five different institutions including 2 years at Wayne State as full time Assistant Professor and Program Director. Marusich Architecture LLC has a strong commitment to innovative contemporary Architectural design and urban adaptive reuse contextual projects. The firm, Marusich Architecture, is comprised of innovative design, technical expertise and dynamic leadership. It enjoys a reputation for design excellence and sensitivity to client needs, as reflected in the high number of return clients. Marusich Architecture LLC is located on the 32nd floor in the David Stott Tower in downtown Detroit, Michigan. Here the firm encompasses all aspects of the architectural process from master planning, site evaluation and feasibility studies, through the conceptual design and working drawings phases, and on to the final selection of finishes and fittings for building construction. Our experience spans the complete spectrum of project types from educational and ecclesiastical to multi-use commercial / housing / parking, to substantial urban corporate as well as urban infill housing redevelopment projects. In undertaking this diverse range of projects, the firm has always maintained its principal objective, which is completing projects on time and within budget without sacrificing design ingenuity. The completed project must achieve a balance between the practical and the aesthetic from its inception. Marusich Architecture LLC has assembled the design vision, the technical expertise, and the leadership required to accomplish this objective. Principals John E. Marusich, Registered Architect Director of Design - Principal Registered architect in the states of Michigan, Pennsylvania, Ohio and Florida. He is certified with the National Council of Architectural Registration Boards. As Principal-in-Charge, Mr. Marusich will be the Primary project contact person and will have responsibility for the project from inception: programming, master planning, schematic design, design development and construction documents through completion of construction, including coordination of interaction between the Owner and Owner’s personnel, government agencies associated with the project, the construction management team, consultants and construction observation. Daniel L. Treacy, Registered Architect Director of Architecture and Construction As Director of Architecture and Construction, Mr. Treacy is responsible for all of the development and coordination of construction documents ie. drawings and specifications. He will coordinate all project consultants and review shop drawings. The "family tree" of this firm traces back to Diehl & Diehl. D&D ceased operations in 1993, and out of the remaining staff ArchiCivitas was formed in 1994. In 2005 the frim became Marusich Architecture. |
Mackinaw Member Username: Mackinaw
Post Number: 3569 Registered: 02-2005
| Posted on Monday, August 13, 2007 - 9:17 am: | |
Oh thanks for that info. This is and has been a downtown Detroit firm...I think they've been in the Stott from the time when it was kept up more. D&D is most prominent, I think, for their church designs across the city, most in the 40s and 50s. I know a little bit about the family. |
Charlottepaul Member Username: Charlottepaul
Post Number: 1463 Registered: 10-2006
| Posted on Saturday, August 18, 2007 - 10:00 pm: | |
Does Transportation Riders United (TRU) still have their office in there? |
Rhymeswithrawk Member Username: Rhymeswithrawk
Post Number: 879 Registered: 11-2005
| Posted on Sunday, August 19, 2007 - 3:44 am: | |
Thanks for connecting that. Yes, downtown Detroit is hardly hurting for office space. Heck, the only way Class-A One Kennedy is gaining occupancy is mostly from stealing other tenants away from other downtown buildings, and it's not that large of an office building (250,000 square feet). Downtown's not going to even have to worry about an office crunch for many years down the road, even with the upturn of downtown. And don't forget that there will be more room opening up once Comerica exits the Comerica Tower and hightails it for Texas. |
Bagman Member Username: Bagman
Post Number: 85 Registered: 06-2004
| Posted on Sunday, August 19, 2007 - 11:21 pm: | |
To my knowledge the Stott is owned by some lawyers who have offices inside the building. I asked if they would sell and all you have to do is make an offer above 3 Million and I think it might be yours. There is only one thing downtown needs.....tenants. |
Charlottepaul Member Username: Charlottepaul
Post Number: 1479 Registered: 10-2006
| Posted on Monday, August 20, 2007 - 7:29 am: | |
...or someone could have a pretty interesting three million dollar house! |
Transitrider Member Username: Transitrider
Post Number: 20 Registered: 01-2007
| Posted on Monday, August 20, 2007 - 7:40 pm: | |
CP, re: The TRU office is currently in the Guardian Building and has been for a few years, not sure if was ever in the Stott. These 2 buildings seem like twins though: red brick and similar trim. Perhaps the more architecturally-knowledgeable can compare. (Message edited by transitrider on August 20, 2007) |
Charlottepaul Member Username: Charlottepaul
Post Number: 1517 Registered: 10-2006
| Posted on Saturday, August 25, 2007 - 6:38 pm: | |
Hmmm. This would have been back in about 2003. Seemed to me that when we went there for our class, that they were in the Stott about half way up because I remember the fancy elevator doors with the letters on them. |
Lefty2 Member Username: Lefty2
Post Number: 37 Registered: 07-2007
| Posted on Saturday, August 25, 2007 - 7:45 pm: | |
I thought I remember the Stott was sold about a year and half ago for about $20.00 a sq ft. Can't build today for under $150.00 ft. Should make nice view condos at the top with xlnt views, and maybe office on lower floors. |
Wschnitt Member Username: Wschnitt
Post Number: 33 Registered: 07-2007
| Posted on Saturday, September 01, 2007 - 5:04 pm: | |
Once the bus depot is moved, the area around Capital Park will be much cleaner and more people friendly. It is poorly lit and full of people waiting for buses. The street should be narrowed to make the sidewalks a bit larger. |
Tarkus Member Username: Tarkus
Post Number: 380 Registered: 04-2006
| Posted on Friday, September 21, 2007 - 5:27 pm: | |
Broadcasting from high atop the David Stott , WABX 99.5fm |
Detroit_stylin Member Username: Detroit_stylin
Post Number: 4966 Registered: 10-2003
| Posted on Friday, September 21, 2007 - 6:12 pm: | |
Tru has always been in the Stott... |
Carptrash Member Username: Carptrash
Post Number: 1455 Registered: 10-2003
| Posted on Sunday, September 23, 2007 - 2:05 pm: | |
there is some nice, though not actually impressive, Parducci architectural sculpture to be found around the base of the Stott. Some of his Greco-Deco as I recall. CP also did a lot of work, churches and schools mostly, for Diehl & Diehl who were mentioned earlier on this thread. eeeeeeek |
Aiw Member Username: Aiw
Post Number: 6379 Registered: 10-2003
| Posted on Sunday, September 23, 2007 - 8:16 pm: | |
eek! |