{"id":1004119834,"date":"2015-05-20T11:31:04","date_gmt":"2015-05-20T19:31:04","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=349464"},"modified":"2020-05-19T00:51:49","modified_gmt":"2020-05-19T08:51:49","slug":"chase-financed-renovation-project-kicks-off-at-capitol-park-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/","title":{"rendered":"Chase-Financed Renovation Project Kicks Off at Capitol Park Building"},"content":{"rendered":"

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

\"Capitol<\/a><\/p>\n

Capitol Park Lofts – rendering<\/p>\n<\/div>\n

The century-old Capitol Park Building in downtown Detroit is finally being renovated into a new lofts and retail project. Crain\u2019s Detroit Business<\/a><\/em> reported that earlier this week Mayor Mike Duggan, JPMorgan Chase Chairman and CEO Jamie Dimon and other officials celebrated the official start of construction during an event that was held at the site.<\/p>\n

The 72,000-square-foot project is estimated to cost nearly $23 million and is part of JPMorgan Chase\u2019s commitment to invest $100 million in the Detroit\u2019s recovery over five years. Since May 2014, Chase invested $34 million in financing for the 13-story Detroit Savings Bank building located at 1212 Griswold\u2014which reopened in February as a mixed-use structure with 56 apartments and office space\u2014and the upcoming redevelopment of the Capitol Park Building.<\/p>\n

\u201cJPMorgan Chase is helping the city address a number of tough challenges,\u201d said Detroit Mayor Mike Duggan in a prepared statement. \u201cWith their support, innovative programs are investing in new housing, more people are graduating from job training programs, rehab loan financing is available to homebuyers and there\u2019s greater support for small businesses. Their long-term commitment is making a real impact,\u201d he added.<\/p>\n

Named Capitol Park Lofts, the renovation project is spearheaded by Karp and Associates of Lansing, MI, with conceptual plans created by Kraemer Design Group. It calls for a thorough transformation of the 11-story building into 63 market-rate apartments and nearly 19,000 square feet of retail space. According to Crain\u2019s<\/em>, work at the new Capitol Park Lofts is expected to wrap up by spring 2016. Around 60 construction jobs will be created during the renovation process.<\/p>\n

Rendering credits to Kraemer Design Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The century-old Capitol Park Building in downtown Detroit is finally being renovated into a new lofts and retail project.<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1495],"tags":[],"class_list":["post-1004119834","post","type-post","status-publish","format-standard","hentry","category-detroit"],"acf":[],"yoast_head":"\nChase-Financed Renovation Project Kicks Off at Capitol Park Building - 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\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chase-Financed Renovation Project Kicks Off at Capitol Park Building\" \/>\n<meta property=\"og:description\" content=\"The century-old Capitol Park Building in downtown Detroit is finally being renovated into a new lofts and retail project.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-05-20T19:31:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T08:51:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Capitol-Park-Lofts-rendering.jpg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VeraGrecu\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/\"},\"author\":{\"name\":\"Veronica Grecu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e8362e8641769829162f16fe58091f62\"},\"headline\":\"Chase-Financed Renovation Project Kicks Off at Capitol Park Building\",\"datePublished\":\"2015-05-20T19:31:04+00:00\",\"dateModified\":\"2020-05-19T08:51:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/\"},\"wordCount\":283,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/Capitol-Park-Lofts-rendering.jpg\",\"articleSection\":[\"Detroit\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/\",\"name\":\"Chase-Financed Renovation Project Kicks Off at Capitol Park Building - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/Capitol-Park-Lofts-rendering.jpg\",\"datePublished\":\"2015-05-20T19:31:04+00:00\",\"dateModified\":\"2020-05-19T08:51:49+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e8362e8641769829162f16fe58091f62\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/Capitol-Park-Lofts-rendering.jpg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/05\\\/Capitol-Park-Lofts-rendering.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Chase-Financed Renovation Project Kicks Off at Capitol Park Building\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e8362e8641769829162f16fe58091f62\",\"name\":\"Veronica Grecu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2024\\\/04\\\/Veronica_Grecu.jpg?w=93\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2024\\\/04\\\/Veronica_Grecu.jpg?w=93\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2024\\\/04\\\/Veronica_Grecu.jpg?w=93\",\"caption\":\"Veronica Grecu\"},\"description\":\"Veronica Grecu is a senior creative writer and researcher for RentCafe. With more than 10 years of experience in the real estate industry, she covers a variety of topics in residential and commercial real estate, including trends and industry news. Previously, she was involved in producing content for Multi-Housing News, Commercial Property Executive and Yardi Matrix. Veronica\u2019s academic background includes a B.A. in Applied Modern Languages and an M.A. in Advertising and PR.\",\"sameAs\":[\"https:\\\/\\\/x.com\\\/@VeraGrecu\"],\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/veronica\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Chase-Financed Renovation Project Kicks Off at Capitol Park Building - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/","og_locale":"en_US","og_type":"article","og_title":"Chase-Financed Renovation Project Kicks Off at Capitol Park Building","og_description":"The century-old Capitol Park Building in downtown Detroit is finally being renovated into a new lofts and retail project.","og_url":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-05-20T19:31:04+00:00","article_modified_time":"2020-05-19T08:51:49+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Capitol-Park-Lofts-rendering.jpg","type":"","width":"","height":""}],"author":"Veronica Grecu","twitter_card":"summary_large_image","twitter_creator":"@VeraGrecu","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/"},"author":{"name":"Veronica Grecu","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e8362e8641769829162f16fe58091f62"},"headline":"Chase-Financed Renovation Project Kicks Off at Capitol Park Building","datePublished":"2015-05-20T19:31:04+00:00","dateModified":"2020-05-19T08:51:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/"},"wordCount":283,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Capitol-Park-Lofts-rendering.jpg","articleSection":["Detroit"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/","url":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/","name":"Chase-Financed Renovation Project Kicks Off at Capitol Park Building - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Capitol-Park-Lofts-rendering.jpg","datePublished":"2015-05-20T19:31:04+00:00","dateModified":"2020-05-19T08:51:49+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e8362e8641769829162f16fe58091f62"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Capitol-Park-Lofts-rendering.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/Capitol-Park-Lofts-rendering.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/chase-financed-renovation-project-kicks-off-at-capitol-park-building\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Chase-Financed Renovation Project Kicks Off at Capitol Park Building"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e8362e8641769829162f16fe58091f62","name":"Veronica Grecu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Veronica_Grecu.jpg?w=93","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Veronica_Grecu.jpg?w=93","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/04\/Veronica_Grecu.jpg?w=93","caption":"Veronica Grecu"},"description":"Veronica Grecu is a senior creative writer and researcher for RentCafe. With more than 10 years of experience in the real estate industry, she covers a variety of topics in residential and commercial real estate, including trends and industry news. Previously, she was involved in producing content for Multi-Housing News, Commercial Property Executive and Yardi Matrix. Veronica\u2019s academic background includes a B.A. in Applied Modern Languages and an M.A. in Advertising and PR.","sameAs":["https:\/\/x.com\/@VeraGrecu"],"url":"https:\/\/www.commercialsearch.com\/news\/author\/veronica\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004119834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/258"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004119834"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004119834\/revisions"}],"predecessor-version":[{"id":1004448238,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004119834\/revisions\/1004448238"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004119834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004119834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004119834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}