On Detroit's Proposed Tallest Skyscraper
John Gallagher covers what might become a stunning new addition to Detroit's skyline, outdoing even the decades-old Renaissance Center. "Businessman Dan Gilbert hired [Joe] Guziewicz a year ago to build his stunningly ambitious project on the Hudson's block downtown — a 1.5-million-square-foot mixed-use array of residential, retail, office, entertainment and civic space."
Gilbert's bold vision for downtown has seen success over the past several years. "Guziewicz is looking for vacant lots and empty buildings nearby where contractors can stage their efforts. That's getting harder by the day as downtown fills up with new employees and residents who have occupied many of the once-empty buildings."
But Detroit as a whole is hardly booming, and Gilbert is looking to the state of Michigan to help the project forward. "He's hoping that state lawmakers will approve a package of significant new tax incentives to fill the gap between what a major new project costs to build and what the owners can get back in the form of rent in a weaker market like Detroit."
If those incentives don't materialize, Gallagher writes, the project may need to scale down.