By Veronica Grecu, Associate Editor
What seemed almost impossible a few years ago is turning into reality: Detroit is no longer a ghost city, as the long list of vacant and desolate real estate properties are coming back to life.
The five-story building sitting at 693-707 W. Milwaukee Street in the city’s New Center section was recently sold to the Detroit Wayne Mental Health Authority. Crain’s Detroit Business reports that the organization paid $2.7 million for the property, which was previously owned by a group of entities based in Florida and New York.
The Detroit Wayne Mental Health Authority is currently headquartered in an outdated building at 640 Temple Street and close to Ilitch Holdings’ upcoming entertainment district, a $650 million mega-development that will create a new Detroit Red Wings arena, apartments, office buildings, restaurants, shops and parks on the blighted area at Woodward and I-75. According to Crain’s, the mental health authority spends around $1 million per year for the 50,000 square feet of office space at 640 Temple Street.
The newly acquired Milwaukee Street property, which was the former home of a Michigan Works! Association agency will become the mental health authority’s new home starting spring 2015 when around 120 employees will relocate there. Reportedly, the organization is preparing to invest another $6.5 million to renovate the building under plans designed by local architecture firm
Hamilton Anderson Associates.
Meanwhile, an ad agency known for its work with Chevrolet announced it will relocate its Detroit operations to One Detroit Center, the Class A office tower located at 500 Woodward Avenue. According to the Detroit Free Press, Commonwealth/McCann has leased 50,000 square feet in the skyscraper and will move all of its 250 to 300 employees in the 43-story building sometime in early 2015.
The ad agency currently occupies around 42,000 square feet of space in the Francis Palms Building at 2111 Woodward, the source said.
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Images via Google Street View and One Detroit Center