"There have been many attempts to open the hotel's doors since it closed in 1984. It has hosted numerous celebrations and housed people like Dr. Martin Luther King Jr., Katharine Hepburn, Joe DiMaggio and Babe Ruth, the Detroit Free Press reported Saturday.
Lawyers began final contract negotiations Wednesday on the 82-year-old building on W. Jefferson Ave., which are expected to last into next week.
When it's over, a $176 million package of tax breaks and loan options is expected to be enough incentive for Cleveland-based developers Ferchill group to reopen the hotel as the Westin Book-Cadillac..."
What gets to us are words like "may" and "might" when talking about the rehab of this hotel. We've seen many proposals and numerous concepts. Looks like they are hedging bets in case the deal falters. We sincerely hope it is renovated and this looks like the best deal so far even with the public money being used. We do wish everyone in Detroit would get some tax breaks so they too can invest in the city. We'll see as time goes on but we'll predict this will be a little more costly than advertised considering the condition the building is in. If only they would have saved the grand daddy of Detroit hotels(Statler) back when it was still realistic, we'd have two gems instead of one. Get it done, but come on now, we all need tax breaks in this city. Wouldn't it be nice to see businesses putting up their own money? It would symbolize the fact that Detroit truely is a desired area to do business. We wouldn't need designations and we'd know for a fact that businesses are willing to support the city. Peace to those who have flourished despite not receiving tax breaks.
6-22-06 Detroit News Report:
"The long-anticipated $176 million financing package to restore the Book-Cadillac Hotel, once a symbol of Detroit money and style, will be declared a sealed deal on Tuesday, according to a spokesman for the Cleveland developer behind the project.
The announcement will come at a 5 p.m. event at the Detroit Athletic Club, where Detroit Mayor Kwame Kilpatrick and developer John Ferchill will unveil plans to renovate the 33-floor downtown skyscraper that closed 22 years ago, said Bob Berg, a Detroit-based spokesman for Ferchill, the Ohio developer."
Our only wish would be for everyone to receive the kind of treatment these folks got. It would benefit the city ten times more than one project. That said, we wish it success although as history has shown us, things don't always go as planned. Let's be on em like crazy to make sure it's done right!
Peace to you and Peace to Detroit
Lawyers began final contract negotiations Wednesday on the 82-year-old building on W. Jefferson Ave., which are expected to last into next week.
When it's over, a $176 million package of tax breaks and loan options is expected to be enough incentive for Cleveland-based developers Ferchill group to reopen the hotel as the Westin Book-Cadillac..."
What gets to us are words like "may" and "might" when talking about the rehab of this hotel. We've seen many proposals and numerous concepts. Looks like they are hedging bets in case the deal falters. We sincerely hope it is renovated and this looks like the best deal so far even with the public money being used. We do wish everyone in Detroit would get some tax breaks so they too can invest in the city. We'll see as time goes on but we'll predict this will be a little more costly than advertised considering the condition the building is in. If only they would have saved the grand daddy of Detroit hotels(Statler) back when it was still realistic, we'd have two gems instead of one. Get it done, but come on now, we all need tax breaks in this city. Wouldn't it be nice to see businesses putting up their own money? It would symbolize the fact that Detroit truely is a desired area to do business. We wouldn't need designations and we'd know for a fact that businesses are willing to support the city. Peace to those who have flourished despite not receiving tax breaks.
6-22-06 Detroit News Report:
"The long-anticipated $176 million financing package to restore the Book-Cadillac Hotel, once a symbol of Detroit money and style, will be declared a sealed deal on Tuesday, according to a spokesman for the Cleveland developer behind the project.
The announcement will come at a 5 p.m. event at the Detroit Athletic Club, where Detroit Mayor Kwame Kilpatrick and developer John Ferchill will unveil plans to renovate the 33-floor downtown skyscraper that closed 22 years ago, said Bob Berg, a Detroit-based spokesman for Ferchill, the Ohio developer."
Our only wish would be for everyone to receive the kind of treatment these folks got. It would benefit the city ten times more than one project. That said, we wish it success although as history has shown us, things don't always go as planned. Let's be on em like crazy to make sure it's done right!
Peace to you and Peace to Detroit
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