Development news round-up

The $300 renovation of COBO Center continues to spur on major investment nearby in hospitality and tourism development. A historic firehouse located across from COBO, built in 1929, has been sold for $1.25 million to local developer Walter Cohen, owner of 21 Century Holdings LLC, who plans to turn the property into a 75-80-room boutique hotel. The total estimated cost of this project is $23 million. 

Meanwhile, established hotels are upping their game to meet increased demand as well as increased competition in the marketplace. The Detroit Marriott at the Renaissance Center plans a $30 million renovation to begin early 2014 that will impact all of the hotel's 1,329 guest rooms and 100,000 square feet of meeting space. 

Developers behind the Tushiyah United Hebrew School, located at 600 and 609 E. Kirby St. in Midtown, have received a $1 million state loan to renovate the historic building into 25 market-rate lofts with gated parking. The project, operating under the name 609 E. Kirby Lofts LLC., has also received a 12-year Obsolete Property Rehabilitation Act abatement from the city valued at about $300,000. The completed project will cost about $6.6 million. 

VernDale Products Inc. also received a grant from the Michigan Business Development Program, this one worth $436,000, to open a second facility for their dried milk powder manufacturing. The company will renovate a long-vacant building at 18940 Weaver St. on Detroit's west side. VernDale is also receiving a 12-year plant rehabilitation tax abatement from the city worth about $3.3 million. This expansion will cost about $16 million and create 13 new jobs. 

The former Crain's Detroit Business buildings at 1400 and 1432 Woodbridge St. and 1370 Franklin St. near Chene Park have been sold to ME Enterprise LLC, a Birmingham-based partnership between T.J. Elia and Clint Mansour, who plan on spending about $3 million to renovate and re-lease the office buildings. 

In un-development news, though certainly significant given the city's overwhelming number of vacant, blighted buildings, the city of Detroit has received $52.2 million out of $100 million in newly allocated federal funds to tear down blighted structures.

Writer: Nicole Rupersburg

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Nicole Rupersburg is a former Detroiter now in Las Vegas who regularly writes about food, drink, and urban innovators. You can follow her on Instagram @eatsdrinksandleaves and Twitter @ruperstarski.