{"id":1004089958,"date":"2014-01-16T12:30:16","date_gmt":"2014-01-16T20:30:16","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=232210"},"modified":"2020-05-11T02:22:04","modified_gmt":"2020-05-11T10:22:04","slug":"revamped-cobo-center-shines-bright-at-detroit-auto-show","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/revamped-cobo-center-shines-bright-at-detroit-auto-show\/","title":{"rendered":"Revamped Cobo Center Shines Bright at Detroit Auto Show"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<div id=\"attachment_232211\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/Detroit-Auto-Show.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-232211\" title=\"Detroit Auto Show\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/Detroit-Auto-Show.jpg\" alt=\"\" width=\"300\" height=\"99\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Detroit Auto Show 2014<\/p>\n<\/div>\n<p style=\"text-align: justify;\">With the 2014 Auto Show in full swing, Detroit\u2019s painful financial decline which <a title=\"Commercial Property Executive\" href=\"https:\/\/www.commercialsearch.com\/news\/headlines\/economy-watch-detroit-files-for-chapter-9-bernanke-says-tapering-still-likely-initial-unemployment-claims-drop\/\" >reached a climax last summer with the historic filing for bankruptcy<\/a> seems like it never really happened. Nearly 1 million visitors from around the world are expected this year at the 25<sup>th<\/sup> North American International Auto Show (NAIAS) which will offer an impressive array of over 700 vehicles and 50 or more new model introductions from the world\u2019s biggest automakers. It\u2019s a financial boost for the Motor City as experts estimate the auto show will generate nearly $400 million for the area\u2019s economy and billions in terms of profit for its three car makers: Ford, General Motors and Chrysler.<\/p>\n<p style=\"text-align: justify;\">But the auto show\u2019s economic impact doesn\u2019t stop here. According to the <em><a title=\"Associated Press\" href=\"https:\/\/bigstory.ap.org\/article\/detroit-auto-show-super-boost-ailing-city-0\" >Associated Press<\/a><\/em>, business is booming for the hotels in Detroit and the surrounding area as occupancy rates reached 85 percent a week before the grand opening of the show which is scheduled to take place between January 13 and 26 at the (almost) newly renovated Cobo Center, one of the largest convention centers in the country offering over 700,000 square feet of prime exhibit space.<\/p>\n<div id=\"attachment_232212\" class=\"wp-caption alignleft\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/Cobo-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-232212\" title=\"Cobo Center\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/01\/Cobo-Center.jpg\" alt=\"\" width=\"300\" height=\"178\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Cobo Center Detroit<\/p>\n<\/div>\n<p style=\"text-align: justify;\">In fact, the 50-year-old Detroit convention center itself is one of the attractions at this year\u2019s auto show. Located in the heart of Detroit along Jefferson and Washington Avenues and named for Albert E. Cobo, who was Mayor from 1950 to 1957, the convention center opened in 1960 under plans designed by architect Gino Rossetti.<\/p>\n<p style=\"text-align: justify;\">In 2009 the Detroit Regional Convention Facility Authority selected Albert Kahn Associates of Detroit to design the $279 million renovation and expansion plans meant to improve Cobo Center\u2019s customer experience and drive economy to Metro Detroit. Scheduled to be completed by January 2015, the redesign process is currently in its third and most expensive phase at $229 million. Apart from significant upgrades to the exterior of the building and the creation of new meeting spaces and a food court, during this phase the development team completed a new 30,000-square-foot Atrium facing the Detroit River and converted the former Cobo Arena into a 40,000-square-foot Grand Ballroom that features two hydraulic platforms that rise from below the floor to form an instant stage\u2014the perfect display place for Ford\u2019s new F-150 truck. The first two phases of the renovation process covered improvements of the convention center\u2019s electrical infrastructure, the creation of 400 new parking spaces, reroofing and the addition of 25,000 square feet of exhibit space. According to <em><a title=\"MLive.com\" href=\"https:\/\/www.mlive.com\/naias\/index.ssf\/2014\/01\/2014_detroit_auto_show_upgrade.html\" rel=\"nofollow\">MLive.com<\/a><\/em>, at the end of Fiscal Year 2013 the Detroit Regional Convention Facility Authority announced a surprising profit of $287,426 generated by high parking revenues and low operating costs.<\/p>\n<p style=\"text-align: justify;\"><em>Images via <a title=\"Cobo Center\" href=\"https:\/\/www.cobocenter.com\/press_room\/cobo_images\" rel=\"nofollow\">Cobo Center<\/a><\/em><\/p>\n<p><em>Correction: The profit announced by the Detroit Regional Convention Facility Authority at the end of Fiscal Year 2013 was $287,426, not not $290 million as it was reported in this article because of a regrettable editing error.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the 2014 Auto Show in full swing, Detroit&rsquo;s painful financial decline that reached a climax last summer with the historic filing for bankruptcy seems like never really happened.<\/p>\n","protected":false},"author":258,"featured_media":1004505632,"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":[1815],"class_list":["post-1004089958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-detroit","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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