fall downtown detroit stakeholder, nov. 7
TRANSCRIPT
Eric B. LarsonCEO, Downtown Detroit Partnership
643 tons of trash collected
3,319 pedestrians assisted
101,000 hours ambassadors have worked
Downtown Detroit Business Improvement Zone
Downtown Detroit Parks
500+ park programs in summer and fall
13th Annual Detroit Tree Lighting Ceremony
DTE Energy Grand River Park
Planning
Gratiot and Randolph intersection improvements
Capitol Park improvements
Downtown infrastructure updates
Stacy FoxCo-founder and Principal, Roxbury Group
David BlaszkiewiczPresident and CEO, Invest Detroit
8
GrowingDowntown
Wherewewere…
Today…
BookCadillacslide
WhathasdrivenChange?
• Partnership–Public,PrivateandPhilanthropic• CoordinaAon• TargetedGeography• FocusedResources• Safe,CleanandInviAng
PlantedSeeds
SuperBowlXL
Grand Circus Park
Campus Martius
Capitol Park
Paradise Valley
Cadillac Square
Hart Plaza
Riverwalk
DTE
PLAY Parks Connected
WOODWARD CORRIDOR INVESTMENT STRATEGY
StateofMichigan,CityofDetroit,DDA,InvestDetroit,WayneCountyKarp+Associates,RoxburyGroup,SchostakBros.,RockVentures
1ParkAvenue‘DavidWhitney’
TotalInvestment:$94MStateInvestment:$11.25M
TotalRetail:10,800sfTotalOffice|Other:125,000
1249Griswold‘FarwellBuilding’
TotalInvestment:$46.1MStateInvestment:$4.4M
TotalRetail:19,000sfTotalOffice|Other:0
1145Griswold‘CapitolParkBuilding’
TotalInvestment:$23MStateInvestment:$3.16M
TotalRetail:14,500sfTotalOffice|Other:9,000sf Campus
Mar;us
GrandCircusPark
CapitolPark 1212Griswold
‘ChamberofCommerce’TotalInvestment:$35.4MStateInvestment:$4.05MTotalRetail:1,750sfTotalOffice|Other:46,000sf
1413Woodward‘ValpeyBuilding’TotalInvestment:$12MStateInvestment:$374KTotalRetail:10,460sfTotalOffice|Other:0
1520Woodward‘LaneBryant’TotalInvestment:$10.2MStateInvestment:$375KTotalRetail:0TotalOffice|Other:43,000sf
1528Woodward‘UnitedFoundaAon’TotalInvestment:$10.2MStateInvestment:$375KTotalRetail:0TotalOffice|Other:38,000sf
PhaseIDevelopmentSummaryTotalInvestment: $230.9MTotalStateSupport*: $24MTotalResiden;al: 349unitsTotalRetail: 56,510sfOffice|Other 261,000sf
WestDistrict,DowntownDetroit
CapitolPark2011
Key Development Projects
Captiol Park
WOODWARD CORRIDOR INVESTMENT STRATEGY
Complete What We Started
WashingtonBoulevard
RiverfrontDevelopment
Mobility
Challenges/OpportuniAes
• ConAnuedNeedforSubsidy/ROI• LimitedIncenAves• ImpactofProposedPolicies• DevelopmentProcess• AbsorpAon• Capacity
Eric B. LarsonCEO, Downtown Detroit Partnership
Square Miles People People/Per Acre Median Household Income Employees Housing Units
1.1 6,444
~7 $35,320 80,000 4,300
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0 - 1010.1 - 2525.1 - 5050.1 - 100100.1 - 250250.1 - 500500.1 - 720.4
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Permits per Sq Mile
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Active Liquor Licenses, 2013Active Liquor Licenses, 2016BIZ Boundary
Top 5 Things to Know About Downtown Development in 2016
1. 164 building permits pulled in Downtown/CBD. 2. Downtown experienced 6% job growth between 2011 and 2014. 3. Office vacancy decreased 25% from 2011- 2016. Current office vacancy is 18%. 4. Over 2,558 residential units in the pipeline - New and rehabilitating Detroit’s valuable, historic architecture. Estimated 3,837 more residents in Downtown. 5. Residential rates increased 33% from 2011-2016. Average monthly rental rate is $1.60/SF.
The Royce 2,000 Sq. Ft. – $420K – Commercial
General Motors Experience Center 110,000 Sq. Ft. – Commercial
Hastings Place 189,660 Sq. Ft. – Mixed Use
Detroit Innovation Center 35,000 Sq. Ft. – $7.5M – Office
The Griswold $24M – Residential
28Grand 101,000 Sq. Ft. – Mixed Use
Statler City Apartments $35-40M – Mixed Use
Parc 3,400 Sq. Ft. – $3.5M – Retail
The LTM Boutique 2,500 Sq. Ft.– Retail
The District Detroit
$2.1B ECONOMIC IMPACT
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