DDA Seeks Developers for Two CBD Buildings

degc-detroit- growth-update_DDA Seeks Developers for Two CBD Buildings

The Downtown Development Authority (DDA) is seeking preliminary redevelopment proposals from qualified developers for two of the remaining unconverted, mixed-use buildings in Detroit’s Central Business District (CBD). Responses to the RFQP (Request for Qualifications and Proposal) are due by 1:00 p.m., August 31, 2016.The buildings are located on Broadway Boulevard between Gratiot and Grand River, adjacent to the Paradise Valley Cultural and Entertainment District. Built in 1900, 1326 Broadway is a 2,200-square-foot parcel containing a 5,563-square-foot, three-story structure. The second building, 1332 Broadway, is a 5,022-square-foot parcel containing a 15,090-square-foot, three-story structure. It was built in 1919. The properties will be sold “as-is, where-is” without any representation or warranty.The buildings are near parking, theatres, entertainment, restaurants, bistros and retail. Last month the DDA approved a comprehensive plan to redevelop nine properties in the Paradise Valley Cultural and Entertainment District. Other nearby areas are undergoing significant redevelopment, including Eastern Market, Corktown, Midtown and the East Riverfront District.

A mandatory pre-bid meeting and property viewing will be held at 1:30 p.m., August 3, 2016, at 1326 Broadway. Proposals are due at 1:00 p.m., August 31, 2016, and final selection is expected to take place in September. For a copy of the RFQP and additional information, go to DEGC New Projects RFPs (http://www.degc.org/contractors/new-project-rfps).

Moddie Turay

Executive Vice President – Real Estate