Can a Parking Garage Spark Detroit's Retail Comeback?

John Gallagher writes about the optimism surrounding a project proposed by Quicken Loans founder and developer Dan Gilbert, which could bring 33,000-square feet of retail space, and 1,300 parking spaces, to downtown Detroit.

As downtown Detroit attracts scores of new residents, it remains largely underserved by retail. A proposed project announced this week, which could bring 10 to 20 new stores to the area, is reason to be optimistic for a retail revival, says Gallagher. "Coming on top of the Whole Foods grocery store under construction in Midtown and the rising number of coffee shops, restaurants, and temporary or 'pop-up' retail stores on Woodward, the downtown and Midtown scene shows clear evidence of a retail revival, although with a long way still to go."

The retail space will occupy the ground floor of a multi-level parking garage, which some see as a crucial component in the area's growth. "More parking, more retail stores and more restaurants, all of these conveniences and services are part of what is required to create a thriving urban core that people want to live in and visit," said George Jackson, president of the Detroit Economic Growth Corp. "We are very excited about this new development."

"Construction on Gilbert's 535,000 square-foot Z-shaped retail and parking development is expected to start this month and take a year to complete," notes Gallagher.

 

Full Story: Dan Gilbert hopes to spur downtown Detroit retail comeback with new development

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