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Fall Downtown Detroit Stakeholder, Nov. 7

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Page 1: Fall Downtown Detroit Stakeholder, Nov. 7
Page 2: Fall Downtown Detroit Stakeholder, Nov. 7

Eric B. LarsonCEO, Downtown Detroit Partnership

Page 3: Fall Downtown Detroit Stakeholder, Nov. 7

643 tons of trash collected

3,319 pedestrians assisted

101,000 hours ambassadors have worked

Downtown Detroit Business Improvement Zone

Page 4: Fall Downtown Detroit Stakeholder, Nov. 7

Downtown Detroit Parks

500+ park programs in summer and fall

13th Annual Detroit Tree Lighting Ceremony

DTE Energy Grand River Park

Page 5: Fall Downtown Detroit Stakeholder, Nov. 7

Planning

Gratiot and Randolph intersection improvements

Capitol Park improvements

Downtown infrastructure updates

Page 6: Fall Downtown Detroit Stakeholder, Nov. 7

Stacy FoxCo-founder and Principal, Roxbury Group

Page 7: Fall Downtown Detroit Stakeholder, Nov. 7

David BlaszkiewiczPresident and CEO, Invest Detroit

Page 8: Fall Downtown Detroit Stakeholder, Nov. 7

8

GrowingDowntown

Page 9: Fall Downtown Detroit Stakeholder, Nov. 7

Wherewewere…

Page 10: Fall Downtown Detroit Stakeholder, Nov. 7

Today…

Page 11: Fall Downtown Detroit Stakeholder, Nov. 7

BookCadillacslide

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WhathasdrivenChange?

•  Partnership–Public,PrivateandPhilanthropic•  CoordinaAon•  TargetedGeography•  FocusedResources•  Safe,CleanandInviAng

Page 17: Fall Downtown Detroit Stakeholder, Nov. 7

PlantedSeeds

Page 18: Fall Downtown Detroit Stakeholder, Nov. 7

SuperBowlXL

Page 19: Fall Downtown Detroit Stakeholder, Nov. 7
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Grand Circus Park

Campus Martius

Capitol Park

Paradise Valley

Cadillac Square

Hart Plaza

Riverwalk

DTE

PLAY Parks Connected

Page 21: Fall Downtown Detroit Stakeholder, Nov. 7

WOODWARD CORRIDOR INVESTMENT STRATEGY

Page 22: Fall Downtown Detroit Stakeholder, Nov. 7

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

Page 23: Fall Downtown Detroit Stakeholder, Nov. 7

CapitolPark2011

Page 24: Fall Downtown Detroit Stakeholder, Nov. 7

Key Development Projects

Captiol Park

Page 25: Fall Downtown Detroit Stakeholder, Nov. 7

WOODWARD CORRIDOR INVESTMENT STRATEGY

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Complete What We Started

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WashingtonBoulevard

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RiverfrontDevelopment

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Mobility

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Challenges/OpportuniAes

•  ConAnuedNeedforSubsidy/ROI•  LimitedIncenAves•  ImpactofProposedPolicies•  DevelopmentProcess•  AbsorpAon•  Capacity

Page 33: Fall Downtown Detroit Stakeholder, Nov. 7

Eric B. LarsonCEO, Downtown Detroit Partnership

Page 34: Fall Downtown Detroit Stakeholder, Nov. 7

Square Miles People People/Per Acre Median Household Income Employees Housing Units

1.1 6,444

~7 $35,320 80,000 4,300

Page 35: Fall Downtown Detroit Stakeholder, Nov. 7

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Text

TextBuilding Permits, Issued 2012BIZ Boundary

0 - 1010.1 - 2525.1 - 5050.1 - 100100.1 - 243

0 0.125 0.25 0.5Miles

Permits per Sq Mile

Page 36: Fall Downtown Detroit Stakeholder, Nov. 7

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Building Permits, Issued 2013BIZ Boundary

0 - 1010.1 - 2525.1 - 5050.1 - 100100.1 - 250250.1 - 500

0 0.125 0.25 0.5Miles

Permits per Sq Mile

Page 37: Fall Downtown Detroit Stakeholder, Nov. 7

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Text Building Permits, Issued 2014BIZ Boundary

0 - 1010.1 - 2525.1 - 5050.1 - 100100.1 - 250250.1 - 500500.1 - 679.8

0 0.125 0.25 0.5Miles

Permits per Sq Mile

Page 38: Fall Downtown Detroit Stakeholder, Nov. 7

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TextBuilding Permits, Issued 2015BIZ Boundary

0 - 1010.1 - 2525.1 - 5050.1 - 100100.1 - 250250.1 - 500500.1 - 720.4

0 0.125 0.25 0.5Miles

Permits per Sq Mile

Page 39: Fall Downtown Detroit Stakeholder, Nov. 7
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GrandCircusPark

GrandCircusPark

LafayettePlassance

LafayetteCentral

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Orleans

Due

HartPlaza

Text

0 1,000 2,000500Feet

Active Liquor Licenses, 2013Active Liquor Licenses, 2016BIZ Boundary

Page 41: Fall Downtown Detroit Stakeholder, Nov. 7

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.

Page 42: Fall Downtown Detroit Stakeholder, Nov. 7

The Royce 2,000 Sq. Ft. – $420K – Commercial

Page 43: Fall Downtown Detroit Stakeholder, Nov. 7
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General Motors Experience Center 110,000 Sq. Ft. – Commercial

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Hastings Place 189,660 Sq. Ft. – Mixed Use

Page 48: Fall Downtown Detroit Stakeholder, Nov. 7

Detroit Innovation Center 35,000 Sq. Ft. – $7.5M – Office

Page 49: Fall Downtown Detroit Stakeholder, Nov. 7
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The Griswold $24M – Residential

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28Grand 101,000 Sq. Ft. – Mixed Use

Page 53: Fall Downtown Detroit Stakeholder, Nov. 7
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Statler City Apartments $35-40M – Mixed Use

Page 55: Fall Downtown Detroit Stakeholder, Nov. 7

Parc 3,400 Sq. Ft. – $3.5M – Retail

Page 56: Fall Downtown Detroit Stakeholder, Nov. 7
Page 57: Fall Downtown Detroit Stakeholder, Nov. 7

The LTM Boutique 2,500 Sq. Ft.– Retail

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The District Detroit

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$2.1B ECONOMIC IMPACT

Page 72: Fall Downtown Detroit Stakeholder, Nov. 7

Question and Answer

Page 73: Fall Downtown Detroit Stakeholder, Nov. 7