{"id":1004051574,"date":"2011-12-14T18:40:00","date_gmt":"2011-12-15T02:40:00","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=28104"},"modified":"2022-12-04T00:25:21","modified_gmt":"2022-12-04T08:25:21","slug":"wright-kay-building-joins-dan-gilberts-portfolio-aloft-boutique-hotel-to-open-in-detroit","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wright-kay-building-joins-dan-gilberts-portfolio-aloft-boutique-hotel-to-open-in-detroit\/","title":{"rendered":"Wright-Kay Building Joins Dan Gilbert\u2019s Portfolio; Aloft Boutique Hotel to Open in Detroit"},"content":{"rendered":"<p style=\"text-align: justify\">By Veronica Grecu, Associate Editor<\/p>\n<p style=\"text-align: justify\">Bedrock Real Estate Service, one of Dan Gilbert\u2019s companies, has just paid $575,000 for the vacant Wright-Kay Building, one of Detroit\u2019s historic structures located at 1500 Woodward, reports<em> The Detroit News<\/em>. According to CBRE Inc. representatives involved in the sale, the six-story building was listed for sale three years ago and was in foreclosure.<\/p>\n<p style=\"text-align: justify\">Though no exact details have been disclosed yet by Bedrock officials, the company could invest around $4 million to convert the 22,500-square-foot facility into retail space with offices or apartments. With this purchase the number of buildings controlled by Dan Gilbert in the 1500 block of Woodward between John R and Grand Circus Park is four, notes <em>The Detroit News.<\/em><\/p>\n<p style=\"text-align: justify\">In other real estate news, <em>Model D<\/em> reports that Starwood Hotels and Resorts Worldwide<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/12\/David-Whitney-building.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-28105\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2011\/12\/David-Whitney-building.jpg\" alt=\"\" width=\"223\" height=\"300\" \/><\/a> will open a boutique hotel in the David Whitney building which is currently being redeveloped by The Roxbury Group. The new Aloft-branded hotel is expected to open in July 2014 and will include 136 loft-like rooms, a bar area, banquet space and a 6,600-square-foot fitness center open 24 hours.<\/p>\n<p style=\"text-align: justify\">Apart from this boutique hotel\u2014the first Aloft to open in the state of Michigan\u2014the David Whitney building will feature 108 rental apartments on the top nine floors, as well as retail and office space on the lower floors.<\/p>\n<p style=\"text-align: justify\"><em>Photo courtesy of Wikipedia<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Veronica Grecu, Associate Editor<br \/>\nBedrock Real Estate Service, one of Dan Gilbert\u2019s companies, has just paid $575,000 for the vacant Wright-Kay Building, one of Detroit\u2019s historic structures located at 1500 Woodward, reports The Detroit News. According to CBRE Inc. representatives [&#8230;]<\/p>\n","protected":false},"author":258,"featured_media":1004505480,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1495,21742],"tags":[],"class_list":["post-1004051574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-detroit","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Wright-Kay Building Joins Dan Gilbert\u2019s Portfolio; Aloft Boutique Hotel to Open in Detroit - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wright-kay-building-joins-dan-gilberts-portfolio-aloft-boutique-hotel-to-open-in-detroit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wright-Kay Building Joins Dan Gilbert\u2019s Portfolio; Aloft Boutique Hotel to Open in Detroit\" \/>\n<meta property=\"og:description\" content=\"By Veronica Grecu, Associate Editor Bedrock Real Estate Service, one of Dan Gilbert\u2019s companies, has just paid $575,000 for the vacant Wright-Kay Building, one of Detroit\u2019s historic structures located at 1500 Woodward, reports The Detroit News. 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