{"id":1004050237,"date":"2012-10-11T13:03:38","date_gmt":"2012-10-11T21:03:38","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=73971"},"modified":"2021-05-14T13:51:22","modified_gmt":"2021-05-14T21:51:22","slug":"historic-globe-building-embarks-on-12-8-million-redevelopment-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/historic-globe-building-embarks-on-12-8-million-redevelopment-project\/","title":{"rendered":"Historic Globe Building Embarks On $12.8 Million Redevelopment Project"},"content":{"rendered":"

By Veronica Grecu, Associate Editor<\/p>\n

On Saturday, October 6, Governor Rick Snyder announced a complex plan to revitalize one of Detroit\u2019s gems: the historic Globe Building, formerly known as the Globe Trading Co. Building and the Detroit Dry Dock Engine Works, where young Henry Ford worked as an apprentice.\"\"<\/a><\/p>\n

The long-vacant building is located on the east riverfront at 1801-1803 Atwater at Orleans and 1900 Atwater in the Rivertown Neighborhood of Detroit between the Renaissance Center and Belle Isle. In the late 1960s the facility was occupied by the Globe Trading Company, a wholesaler dealer of machinery and equipment, hence the name of the building. After several unsuccessful attempts to redevelop the property into lofts or even casinos, the state Department of Natural Resources (DNR)\u2014which owns the building\u2014has awarded $12.8 million to build a public adventure and education center at the site.<\/p>\n

Construction is scheduled to begin later this year, according to Detroit Free Press<\/em>, and the revamped Globe facility should be open to the public in late 2013 or early 2014. Visitors will then have access to a climbing wall, an archery range, a kayaking water sports simulator, science classrooms and demonstrations on Michigan\u2019s historic lumber industry, reveals the same source.<\/p>\n

Detroit-based developer the Roxbury Group has been designated the project\u2019s contractor; the private company is under contract to purchase the Globe Building from the city\u2019s Economic Development Corporation for $1. The DNR will buy the redeveloped building for $11 million via a grant that will be offered by the Michigan Natural Resources Trust Fund.<\/p>\n

Under the newly announced redevelopment plans, almost half of the west side of the building will be replaced by a modern structure that will blend perfectly with the east elevation.<\/p>\n

Click here<\/strong><\/a> for more market data on Detroit.<\/p>\n

Rendering courtesy of the DNR website<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

On Saturday, October 6, Governor Rick Snyder announced a complex plan to revitalize one of Detroit’s gems: the historic Globe Building, formerly known as the Globe Trading Co. 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