 
Detroitbill
Member
Username: Detroitbill
Post Number: 84
Registered: 09-2006
| | Posted on Tuesday, November 14, 2006 - 11:59 am: |    |
Walking down Woodward on Saturday I couldnt help but wonder if anyone has any recent news on the 1001 Woodward condos mentioned, its taken a very long time to get going.... The website welcomes the All- Star game to Detroit.. I know its been mentioned several times recently but havent heard any tangible news on it in the last couple of months.. Thanks |
Artistic
Member
Username: Artistic
Post Number: 24
Registered: 09-2006
| | Posted on Tuesday, November 14, 2006 - 12:23 pm: | |
Here is the latest as of yesterday on 1001 Woodward. I have a reservation in that building and have been in contact about the holdup on this project. I have been told that the Condo Documents will be ready in December. I know that these documents are a very important issue in preparing sales, however I have wondered why it has taken so long and I get no answer. I have been told that interior wall construction would start in November. As of today nothing has started. I have been told that there will be a large sales and marketing campaign sometime the first of the year or early spring. Outside of the sales team of 1001 Woodward I have not spoken to anyone else on the project. |
Detroitbill
Member
Username: Detroitbill
Post Number: 87
Registered: 09-2006
| | Posted on Tuesday, November 14, 2006 - 12:44 pm: | |
Thanks for the update Arts,,Its just a great building and strategically located. If it is developed it would be a great compliment to Campus Martius and the BC renovation. Condos looking down at the CM area and onto the city are an excellent addition to the area,,It would complete the circle of development in that area. |
Beantown
Member
Username: Beantown
Post Number: 7
Registered: 10-2006
| | Posted on Tuesday, November 14, 2006 - 4:54 pm: | |
I am becoming increasingly pessimistic about the progress at 1001. I too had a reservation for a condo unit there, but progress has been absolutely stagnant for more than a half year.
Artistic, I cringed nervously when you stated last month that you were "moving to 1001 Woodward next year", because the management team there is laying a growing string of broken promises.
All the promises that you list above were made to me in August, and again in October. I was told that the interior wall construction on the 13th floor would be COMPLETED in August. Then in August, they said it would just be getting underway at the end of August. Then last month they again said it would be underway in about a month. Pierre at 1001 had stated in late August that a new marketing team had been brought on board, and were aggressively making necessary modifications to their marketing strategy. That is when the "soft reservation" amount was lowered from $5k to $1k. He also said that they were going to look at the pricing for all the units, and were going to overhaul the entire pricing structure. Again, I have seen no progress on those fronts, with Pierre saying weekly that he meets with the marketing team, but they don't make any decisions regarding the new pricing structure. Lastly, Pierre told me that he and the marketing team don't consider themselves in competition with the Book-Cadillac, even though they are approximately the same height, similar square footages, only two blocks from one another, of similar luxury finish, and supposedly on similar development schedules. Yet progress at the B-C begins in earnest, while 1001 remains dormant, and I assure you that 1001 has lost plenty of potential business to the B-C. Perhaps the biggest difference is that the B-C has the financing situated, and 1001 will be financing the construction of some later units with the sales of the earlier units.
Artistic, my only advice for you is to not believe any of the "plans" for 1001. Make them talk in terms of what they HAVE accomplished. They are becoming notorious for delays, which is one of the reasons why I decided to jump ship for the B-C. It's a shame too, because the condo layouts for units 2, 3, and 5 are fantastic. If you stick it out at 1001, I hope for your sake that it is finished by 2010.
(Message edited by beantown on November 14, 2006) |
Reetz12
Member
Username: Reetz12
Post Number: 104
Registered: 09-2005
| | Posted on Tuesday, November 14, 2006 - 5:15 pm: | |
Originally we bid the project in November 2005, work to start immediatley, with an aggressive construction schedule of less then 9 months for floors 13 and up. It was rebid in January and the last info we have heard, was the project was going non-union. They were still expecting move in dates like mentioned above!
Only new news that I have heard is that all floors will be condos and all current leasees will be "kicked out". Be careful of the nice full glass exterior windows, they are not insulated and your heating bills will be outrageous.
But the views from the top floors are amazing! Better view than the Book Cadillac in my opinion.
They have also rented out the top floor for parties, not a bad little set up. |
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