Proprietor to invest in downtown housing
Tuesday, March 18, 2008
Louis Aguilar and Eric Morath / The Detroit News
The owner of the Westin Book Cadillac Detroit says he is looking to seal two major development deals that would bring more upscale housing downtown now that the $180 million renovation of the historic hotel is in its final stretch.
Cleveland-based developer John Ferchill also expressed confidence that downtown Detroit will continue to grow despite the mayoral scandal and the tough national economy -- a sentiment echoed by other business leaders Monday as they announced plans to step up efforts to promote the city's restaurants, entertainment and other attractions.
"I'm still high on Detroit," Ferchill said during a Monday interview. He visits the city frequently to keep tabs on the progress of the building that had been shuttered since 1984.
Ferchill's ability to get funding for the Book is widely regarded as one of the major accomplishments in downtown Detroit this decade. Renovations began two years ago, capping decades of effort by city officials to revive the building that had been the city's pre-eminent hotel for 60 years.
"I don't think it will have any business impact at all," Ferchill said of the controversy facing Mayor Kwame Kilpatrick. "To be honest, we've never been able to attract national investment to help us with any of our Detroit projects. But those that do remain bullish on Detroit continue to be bullish."
Ferchill said the renovations at the Westin Book Cadillac are on track for its Oct. 1 opening, when the public will be able to get a look at the restored 1924 building. Reservations for weddings and other events are coming in, and soon the public will be able to make reservations for the 455 hotel rooms that will be available starting Nov. 1, Westin officials said.
Marketing to target suburbs
On the same day Ferchill provided an update of the Book Cadillac progress, the Downtown Detroit Partnership announced it will spend $750,000 over three years on marketing the heart of the city, including Eastern Market and Midtown, which is home to the city's museums. The message will be aimed at suburbanites and those outside the Metro area, said Partnership Chairman Roger Penske.
"The Detroit we've talked about is here today and we've got to let people know," Penske said as he highlighted efforts to clean downtown, bring in events such as the Grand Prix and build new hotels and casinos, during the partnership's annual meeting Monday at the Renaissance Marriott hotel.
The marketing campaign will feature new maps and city guides, with updated information about entertainment venues and hotels, and a strong focus on online, social networking. The social media is aimed at attracting younger people to visit, and live, downtown, Partnership President and CEO Ann Lang said. "Once people come to live and work downtown, they become ambassadors to attract others," she said.
More deals may be near
Ferchill said he hopes to close on two deals that would bring more rental units downtown. He declined to name the buildings, but hopes the transactions will be completed by late spring or early summer.
"I'm disappointed that more housing hasn't come online downtown, but, I know some deals fell through and the housing situation, clearly, is tough all over," Ferchill said. "But I think downtown Detroit has two opportunities: rental housing and entertainment-type developments."
The renovation of the Book Cadillac has been brushed by the Kilpatrick scandal. A company owned by his longtime friend Bobby Ferguson has been accused of using his connections to get city contracts, including the one for the interior demolition of the Book Cadillac. According to a Detroit Free Press story published earlier this month, Kilpatrick's former chief of staff, Christine Beatty, exchanged text message information with Ferguson about contracts and how to get paid for completed work -- often a challenge for city contractors. One of the exchanges involved the work Ferguson won at the Book-Cadillac.
At the time, Beatty and Ferguson were members of the Downtown Development Authority, a branch of the Detroit Economic Growth Corp., which was deciding to spend money on the Book-Cadillac. Ferchill said his company had little involvement in choosing Ferguson as a subcontractor.
"But he did a good job," Ferchill said.
Tuesday, March 18, 2008
Louis Aguilar and Eric Morath / The Detroit News
The owner of the Westin Book Cadillac Detroit says he is looking to seal two major development deals that would bring more upscale housing downtown now that the $180 million renovation of the historic hotel is in its final stretch.
Cleveland-based developer John Ferchill also expressed confidence that downtown Detroit will continue to grow despite the mayoral scandal and the tough national economy -- a sentiment echoed by other business leaders Monday as they announced plans to step up efforts to promote the city's restaurants, entertainment and other attractions.
"I'm still high on Detroit," Ferchill said during a Monday interview. He visits the city frequently to keep tabs on the progress of the building that had been shuttered since 1984.
Ferchill's ability to get funding for the Book is widely regarded as one of the major accomplishments in downtown Detroit this decade. Renovations began two years ago, capping decades of effort by city officials to revive the building that had been the city's pre-eminent hotel for 60 years.
"I don't think it will have any business impact at all," Ferchill said of the controversy facing Mayor Kwame Kilpatrick. "To be honest, we've never been able to attract national investment to help us with any of our Detroit projects. But those that do remain bullish on Detroit continue to be bullish."
Ferchill said the renovations at the Westin Book Cadillac are on track for its Oct. 1 opening, when the public will be able to get a look at the restored 1924 building. Reservations for weddings and other events are coming in, and soon the public will be able to make reservations for the 455 hotel rooms that will be available starting Nov. 1, Westin officials said.
Marketing to target suburbs
On the same day Ferchill provided an update of the Book Cadillac progress, the Downtown Detroit Partnership announced it will spend $750,000 over three years on marketing the heart of the city, including Eastern Market and Midtown, which is home to the city's museums. The message will be aimed at suburbanites and those outside the Metro area, said Partnership Chairman Roger Penske.
"The Detroit we've talked about is here today and we've got to let people know," Penske said as he highlighted efforts to clean downtown, bring in events such as the Grand Prix and build new hotels and casinos, during the partnership's annual meeting Monday at the Renaissance Marriott hotel.
The marketing campaign will feature new maps and city guides, with updated information about entertainment venues and hotels, and a strong focus on online, social networking. The social media is aimed at attracting younger people to visit, and live, downtown, Partnership President and CEO Ann Lang said. "Once people come to live and work downtown, they become ambassadors to attract others," she said.
More deals may be near
Ferchill said he hopes to close on two deals that would bring more rental units downtown. He declined to name the buildings, but hopes the transactions will be completed by late spring or early summer.
"I'm disappointed that more housing hasn't come online downtown, but, I know some deals fell through and the housing situation, clearly, is tough all over," Ferchill said. "But I think downtown Detroit has two opportunities: rental housing and entertainment-type developments."
The renovation of the Book Cadillac has been brushed by the Kilpatrick scandal. A company owned by his longtime friend Bobby Ferguson has been accused of using his connections to get city contracts, including the one for the interior demolition of the Book Cadillac. According to a Detroit Free Press story published earlier this month, Kilpatrick's former chief of staff, Christine Beatty, exchanged text message information with Ferguson about contracts and how to get paid for completed work -- often a challenge for city contractors. One of the exchanges involved the work Ferguson won at the Book-Cadillac.
At the time, Beatty and Ferguson were members of the Downtown Development Authority, a branch of the Detroit Economic Growth Corp., which was deciding to spend money on the Book-Cadillac. Ferchill said his company had little involvement in choosing Ferguson as a subcontractor.
"But he did a good job," Ferchill said.
No comments:
Post a Comment