February development news round-up

February was another busy month for development news in the city. Let's catch up on five stories from the past four weeks.

• As development projects continue to multiply throughout greater downtown Detroit, people are starting to use the word gentrification more and more. 1217 Griswold, the Capitol Park residence and events loft space, sparked the latest conversation as its residents have been given notice to move out by the end of February. Dan Gilbert's Bedrock Real Estate Services plans to rehab the building, which is badly in need of repairs.
• Another decades-long Detroit institution of weird, the Cass Corridor's Showcase Collectible, is also getting the boot as a new owner plans to make capital improvements to the building. A tattoo parlor will be one of the new businesses to eventually occupy the old Chinatown building.
• Beer isn't nearly as controversial as gentrification--or progress, depending on who you're talking to--and Midtown's about to get a whole lot more of it. The Grand Rapids-based HopCat is opening its third craft beer bar in the old Agave location this August.
• In other apartment news, downtown's Park Apartments building was sold this month for a reported $3.25 million to Joe Barbat, CEO and chairman of Southfield-based Wireless Toyz. Barbat plans over $6 million in renovations to the building, which will include 116 Class A apartment units and ground floor dining. In a nod to the building's nearly 80 years of history, it will be renamed Briggs House Residence.
• The Detroit Free Press and Detroit News have announced a coming change of address as the two newspapers are moving operations into the Bedrock Real Estate Services-owned Federal Reserve Building in the city's central business district. The move was made in part to keep up with the demands of modern technology.

Writer: MJ Galbraith

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