The development will include a new copper roof, a green roof plaza, and a restoration of an interior atrium. The facade will be completely cleaned as well. Work is slated to begin in June and the group intends to eventually purchase the building.
Showing posts with label Book Tower. Show all posts
Showing posts with label Book Tower. Show all posts
Wednesday, October 28, 2009
Book Tower to Get New, Green Life?
Key Investment Group of Canton says it has signed a contract with the owners of the empty Book Tower and Book Building to renovate the structures which have been vacant since January. They plan to turn it into 260 green-friendly residences along with retail space.
The development will include a new copper roof, a green roof plaza, and a restoration of an interior atrium. The facade will be completely cleaned as well. Work is slated to begin in June and the group intends to eventually purchase the building.
The development will include a new copper roof, a green roof plaza, and a restoration of an interior atrium. The facade will be completely cleaned as well. Work is slated to begin in June and the group intends to eventually purchase the building.
Sunday, August 09, 2009
Can Lightning Strike Twice?
The Ferchill Group is continuing its effort to redevelop a downtown strip centered along Washington Boulevard. The company responsible for saving the Book Cadillac will be lending its money and know-how to another Book building, this time the Book Tower. The building has been shuttered since the beginning of 2009 when the building 's owners filed for Chapter 11.
The Ferchill Group determined that is was not possible financially to save the Lafayette Building due to a funding gap of around $11 million. Profits from the building wouldn't have covered the cost of the restoration. The Book Tower doesn't appear to have that problem and Ferchill will embark on an $87 million renovation of the 38 story building.
The Ferchill Group determined that is was not possible financially to save the Lafayette Building due to a funding gap of around $11 million. Profits from the building wouldn't have covered the cost of the restoration. The Book Tower doesn't appear to have that problem and Ferchill will embark on an $87 million renovation of the 38 story building.
Wednesday, January 07, 2009
Book Tower & Book Building Go Dark
One day after the unheated vacant office tower had its water cut off, the Book Building's last tenant has left and the building has closed. It appears that the new owners who bought the property in August don't want to pay to keep the building open.
Sunday, September 09, 2007
Dark Tower Part II
As you may recall, back in May DTE cut the power to the Book Building and Book Tower for a few days due to non-payment. Tenants were forced to use generators to keep their businesses open while an arangement was worked out.
Well, DTE cut the power again on August 30th. Tenants are once again caught in the middle of a dispute between the buildings former owner and DTE. Susan Lambrecht claims that the $100,000 owed to DTE is the responsibility of Northeast Commercial Services Corp., which she sold the building to and has since lost through foreclosure. Business owners have raised $42,000 on their own in an attempt to restore power while Northeast Commercial Services Corp. tries to work out a deal with DTE and the buildings new owners, KCI.
DTE has so far refused to accept the money raised by the building's tenants and KCI. It is demanding $57,000 in payment.
Well, DTE cut the power again on August 30th. Tenants are once again caught in the middle of a dispute between the buildings former owner and DTE. Susan Lambrecht claims that the $100,000 owed to DTE is the responsibility of Northeast Commercial Services Corp., which she sold the building to and has since lost through foreclosure. Business owners have raised $42,000 on their own in an attempt to restore power while Northeast Commercial Services Corp. tries to work out a deal with DTE and the buildings new owners, KCI.
DTE has so far refused to accept the money raised by the building's tenants and KCI. It is demanding $57,000 in payment.