2021 had its share of news and groundbreakings around Detroit, and we're expecting more of the same in 2022. Developments are rarely standalone–one building goes up or gets remodeled, another one down the block sees investment, etc. So when considering places to pay attention to this year, we included one big restoration downtown and four areas to watch. These are areas or neighborhoods that have had recent groundbreakings or new ownership, or where a large development is nearing completion. These are the places where we expect to see more news in development and real estate in Detroit this year.
A long-neglected skyscraper should have a dazzling reopening by the end of the year. Bedrock has been working on the restoration of the Book Tower and Book Building since 2016. We can expect over 200 apartments across 27 floors, extended-stay hotel rooms by Roost, an indoor/outdoor bar, new restaurants, and a beautiful new event space. This, along with the recently-announced new ownership and renovation of the Book Cadillac, will liven up Washington Boulevard.
Corktown. Corktown. Corktown.
The landscape of Detroit's oldest neighborhood will be changing before our eyes throughout 2022. Ford expects construction to wrap up on Michigan Central Station before the end of the year. In addition to the train station, Ford is also revamping the nearby Book Depository, which has sat vacant for decades. Behind that, a parking garage/mobility hub is rising, which will bring 1,250 parking spots, public space, and bike storage. Traffic around Roosevelt Park in front of the train station is currently being reconfigured to create a more unified public space.
Since the announcement of the transformation in 2018, development has boomed in the neighborhood. Just down Michigan Avenue, two more big developments are taking shape. The Godfrey Hotel is already rising across from Nemo's. And across from the old Tiger Stadium, another mixed-use project from the same developer is in the works.
While much of the development attention usually falls on New Center, this sleepy, post-industrial area across Woodward has seen a lot of activity in the past few years. Businesses like Oak & Reel, Vault of Midnight, Freya, Milwaukee Caffe, and the Gathering have opened. The Platform renovated Chroma, which is open for co-working space. Lofts and apartments have been opening. Expect more residential in the next few years, streetscaping along East Grand Boulevard, and the revamp of the Stanley Hong building.
A lot of property has changed hands along the East Riverfront in the past year, and we're curious to see what this will do to the area from the Stroh's complex to Belle Isle. Dan Gilbert's Bedrock has purchased buildings and land in the past year, including the UAW Training Center and 300 River Place. The Parade Company acquired the Brodhead Armory, with ambitious plans for a warehouse and headquarters. The Platform is selling the site of the former Big Boy across from Belle Isle. And the Detroit Riverfront Conservancy is wrapping up the Riverwalk connection between Mt. Elliott Park and Belle Isle.
After years of investment on Livernois and surrounding neighborhoods, West McNichols has seen a recent uptick in development. The Sawyer Art Apartments recently broke ground, bringing new construction and affordable apartments to the area. Streetscaping along McNichols was recently completed as part of the Strategic Neighborhood Fund. More buildings are being renovated, and new businesses are opening along the corridor. We anticipate more announcements from this area in the coming year.