Monday, 7 January, 2008 12:35 PM
Detroit Gets New Era in Downtown
Living With Iconic $150 Million Cadillac Centre on Campus Martius
Complex Completes Campus Martius Park Circle And Creates Architectural
Destination In Heart Of Downtown Detroit On "Monroe Block"
Source: NORTHERN GROUP, INC.
Detroit gets a strong new start on the New Year with the announcement
of the $150 million complex called "Cadillac Centre" on
Campus Martius Park, Detroit's new "Town Square."
DETROIT -- Detroit
gets a strong new start on the New Year with the expected announcement
of an iconic $150 million living, dining, shopping and entertainment
complex called "Cadillac Centre" on Campus Martius Park
occupying the entire Monroe Block with a connection to the existing
The announcement is expected
to be made by Detroit Mayor Kwame M. Kilpatrick and owner-developer
Alex Dembitzer, principal and managing partner of the Northern Group,
Inc., a privately held New York City-based real estate investment
firm with strong ties to Detroit, at 11 a.m., Wednesday, Jan. 9
in the Mayor's conference room. Joining Mayor Kilpatrick and Dembitzer
for the announcement will be internationally renowned architect
Anthony Caradonna of New York and Rome.
The dramatic $150 million
building complex completes the circle around Campus Martius Park
with more than 80 apartments, serene public spaces, an upscale market,
major retail space, dining, a health club and a multiplex cinema.
Cadillac Centre features two modern 24-story towers of sculpted
metal and glass rising from a 12-story base designed to make Detroit
a global architectural destination, similar to the Guggenheim in
Bilbao, Spain, or Chicago's Millennium Park.
Cadillac Centre will
connect to and incorporate the existing 1927 Beaux Arts Cadillac
Tower skyscraper, already owned by the Northern Group, completing
the two-acre site on Campus Martius Park bounded by Monroe, Farmer,
Bates and Cadillac Square.
Cadillac Centre sits
between Compuware's world headquarters and the recently completed
Cadillac Square Park, an extension of Campus Martius Park, and fills
the last remaining space around Campus Martius Park, Detroit's new
"We believe in the
future of Detroit," Dembitzer said of Northern Group's decision
to develop Cadillac Centre. "We are creating a unique complex
that will not only revitalize downtown Detroit living, shopping
and entertainment, but will also stir the imagination and excitement
about Detroit's future and what we believe it will become in the
21st century. Cadillac Centre is a natural extension of our organization's
business model of creating value in urban areas across the nation."
"Detroit is in the
midst of the most revolutionary transformation in its history and
Cadillac Centre will help to continue our city's resurgence by bringing
a new level of exciting living, shopping and entertainment options
to the heart of downtown," said Mayor Kilpatrick.
"The Northern Group's
ownership and investment in several legendary buildings downtown
and on the riverfront have given them the opportunity to witness
Detroit's transformation first hand," Mayor Kilpatrick said.
"We are pleased that they recognize the opportunities for growth
here as we continue to build the 'NEXT Detroit.'
will be considered a work of architectural dynamism and take its
place as a jewel among their many properties throughout Detroit
and the world," Mayor Kilpatrick said.
The Northern Group hired
renowned architect Anthony Caradonna as architect. A local Detroit
architectural firm will also be used for project work. Caradonna
is the principal of the New York and Rome-based architectural and
design firm OPUS Architecture and Design Studio, Inc. He is also
an associate professor of architecture at Pratt Institute School
of Architecture in New York City.
Caradonna spent time
in Detroit as part of the design process, walking downtown, climbing
inside existing buildings for aerial perspectives and getting a
personal feel for the site to design Cadillac Centre as a unique
complex that not only reflects Detroit's past and present, but accentuates
its future as a modern, cosmopolitan and key architectural and economic
touchstone for the nation.
Cadillac Centre amenities
include 84 apartments, 48 of which will be located in the 24-story
SkyLoft Towers, a 30,000-square-foot market, a cinema, more than
100,000 square feet of major retail space, a 14,400-square-foot
health club and spa, a 40,000-square-foot public park with water
features, more than 25,000 square feet of boutiques and specialty
shops, and 800 parking spaces. Cadillac Centre will be topped off
with a 22,000-square-foot "living roof," which will collect
and filter rain water and help control energy consumption.
All financing for the
project is in place and is being handled by the Northern Group using
its private funding sources. In a departure from similar projects,
no tax subsidies or tax abatements are being used for the development.
A Wayne County Renaissance Zone program is expected to be used to
attract national retailers.
Groundbreaking is anticipated
about September 2009. Completion is targeted for December 2011.
The Northern Group is
already a pivotal player in the resurgence of downtown Detroit with
ownership of "The Downtown Collection," which includes
the First National Building, Penobscot Building and Cadillac Tower
office building. The Northern Group has nearly completed refurbishing
the historic 400-unit Alden Park Towers residential apartments,
which is currently 90 percent leased, on Detroit's riverfront.
The Northern Group was
established more then 20 years ago by principals committed to creatively
readapting architecturally significant commercial and residential
real estate in urban areas. Started in New York City, Northern Group
acquires and transforms obsolete buildings and neighborhoods through
sensitive rehabilitation, revamped infrastructure, and aesthetic
improvements to create vibrant homes and workplaces. The Northern
Group has branched into urban centers across the nation including
Louisville, Los Angeles, Pittsburgh, Philadelphia, Memphis and Detroit.
For more information
on the Downtown Collection, please visit www.thedowntowncollection.com.
For more information on the Northern Group, please visit www.zul.com.