Jump to content

Broderick Tower to be Renovated?

Allan

By Allan
in Detroit

Recommended Posts


  • Replies 191
  • Created
  • Last Reply
wolverine Town

wolverine

Posted
Posted

Allan, as you exit the stairway and turn left toward the elevators, the door at the end of the hall on every floor has the typical security system where if the circuit is broken, the alarm goes off. I don't know the age of the security system, but the doors it was attached to had a hard time closing. So it's probably old.

Link to comment
Share on other sites
Allan Metropolis

Allan

Posted
  • Author
Posted

I did some checking around, and was told that the security system was installed a few years after the building was vacated. Over the years the system has gotten so chopped up that there's no way it would function properly. I doubt it really ever functioned all that well anyway. Today it wouldn't do a thing, since in many cases you can walk right into the room on the other side of that door by walking though other rooms. Not to mention the places where you can walk through the walls or through any door that the glass has been broken out of. The upper most floors are very open anyway...29 comes to mind.

Link to comment
Share on other sites
mn_body_detroit_hrt Whistle-Stop

mn_body_detroit_hrt

Posted
Posted

ok I have contacted JC Beal, tried to find Mike Higgins, left msgs with Preservation Wayne and called about 30 different people at the city offices trying to locate the feasibility study that was previously done on the building. Do any of you have access to this information or know where I would call to get it. I am willing to purchase copies of it if access is open to the public...

Link to comment
Share on other sites
Allan Metropolis

Allan

Posted
  • Author
Posted

Witherell Corp. is run out of the Ramada Inn. As far as actually contacting Mike Higgins, call the Ramada Inn & ask for Mike Higgins. I believe the phone number for the Ramada is actually the phone number of Mike's secretary.

Link to comment
Share on other sites
Allan Metropolis

Allan

Posted
  • Author
Posted

I've been doing some research on Mike Higgins. It appears that he formed Witherell Corp. as a tax structure to protect him after he purchased the Broderick. Witherell Corp. started in April 1983, right before he purchased the Broderick. Coincidence? I think not. The company started as Higgins Investment Company, but the name was chanced to Witherell Corp. in 1985. As of May 5, 1983, Mike had an office at 2600 Woodward Tower at the Park - aka the Broderick.

Mike Higgins owns the following active companies:

Witherell Entertainment, Inc.

Witherell Management, Inc. (formerly Motown Construction Co.)

The Witherell Corporation

On July 7, 2005 Mike started Broderick Tower Venture, LLC.

Link to comment
Share on other sites
Allan Metropolis

Allan

Posted
  • Author
Posted

I actually was planning on doing that, but haven't gotten around to it yet. I will do that tonight and let you all know what I find out. I definately would be interested in living at the Broderick, but I don't know how the timing will work out.

Link to comment
Share on other sites
  • 2 months later...
Jin Kim Whistle-Stop

Jin Kim

Posted
Posted

What's the latest on the Broderick? Has there been any movement on putting up ads over than lame mural?

Apparently there was some debate as to who owns rights to develop Broderick. The last thing I heard on it is that the development rights changed hands a few weeks back. I believe The Kraemer Design Group (architectural firm in the ground floor of the Parker Webb building) was hired to restore it into condos/apt. I do not know who the developer is, though.

Link to comment
Share on other sites
detroitfan Whistle-Stop

detroitfan

Posted
Posted

Apparently there was some debate as to who owns rights to develop Broderick. The last thing I heard on it is that the development rights changed hands a few weeks back. I believe The Kraemer Design Group (architectural firm in the ground floor of the Parker Webb building) was hired to restore it into condos/apt. I do not know who the developer is, though.

I swear this has to be the most convoluted project in the city. So does this mean that JC Beal is out of the picture?

I checked out Kraemer website and they have a layout of the Broderick. http://www.thekraemeredge.com/our_work/con...derickTower.pdf

Link to comment
Share on other sites
Allan Metropolis

Allan

Posted
  • Author
Posted

The project is supposed to be convoluted...this is Detroit, after all. I assure you that all involved with the project have been working very hard to get the project going these last few months.

I think you'll see work sooner than you think. ;)

Link to comment
Share on other sites
Allan Metropolis

Allan

Posted
  • Author
Posted

Mike Higgins has never been the sole owner of the building. There were two silent partners who he owned the building with. He still owns a stake in the building today.

Mike's image in the papers has changed dramatically since he got the building in July 1977. The article announcing the sale of the tower stated that "until the aquisition of the Farwell Building, Michael Higgins was best known as the rental real estate whiz kid of Detroit's near east side. Over the past four or five years, he negotiated the purchase of some 35 older apartment buildings along the east Jefferson corridor around the edges of Indian Village. Today Higgins Properties, Inc. owns and manages 1,500 apartments in the area. Its latest purchase was the Keen Building on East Jefferson."

The Broderick had a quick succession of owners prior to Mike's purchase of the building. The occupancy rate in 1970 was 70%. By the time Mike purchased the building in 1977, the occupancy rate was only 45%. The tower received new plumbing and air conditioning systems in the late 1960s, but it still lacked air conditioning on many floors. It just wasn't enough to stem the flow of tenants out of the building. Mike did extensive cleaning and repair work to the tower, including a complete restoration of the lobby, which involved removing a hideous 1960s remodeling job. Unfortunately, the doors closed in 1985.

Link to comment
Share on other sites
Allan Metropolis

Allan

Posted
  • Author
Posted

For sure. He got rich quick...until the bottom fell out of the east side real estate market due to the massive urban exodus. The company sold all of their apartment buildings and banked on downtown. After all, they figured that the downtown of a major city wouldn't just die. They purchased the Farwell first, and began significant renovations to make it into an entertainment center with spaces for 6 separate eating establishments. It was successful for several years, but it was always a struggle to keep tenants in the office building. They got a bad deal on the Ramada, but at least they've managed to keep tenants in the building. Mike has said that he would be living out on the streets right now if he had not purchased his house and paid the taxes off on it for the next 15 years.

Quite frankly, I don't blame Mike for not pulling out of the Broderick. He is smart, and he knows what a cash cow he is sitting on. He has been waiting for the downtown revitalization to take hold, and the time is now. He is trying to recoup his losses and turn a profit once they condo out the Broderick and he sells his stake in the building.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

Go to topic listing

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.