In 2013, Detroit filed for bankruptcy, the largest of its kind in U.S. history. Five years later and the Motor City is in the midst of a renaissance. The speed and scale of the recovery are virtually unprecedented.
At the center of this transformation are Dan Gilbert and his Bedrock Detroit Real Estate team; leaders in deal management and visionaries in the truest sense of the world. To date, they’ve acquired or redeveloped nearly 100 properties in downtown Detroit, all while maintaining a steadfast commitment to historic preservation.
The Urban Land Institute recently wrote an exceptional profile on Dan and what he’s meant to the city of Detroit. It’s a case study in responsible urban development, and it’s well worth a read.
From the restoration of the historic Book Tower to the bold redesign of the Madison Theater, Bedrock has time and time again demonstrated a rare ability to blend preservation and innovation.
According to Maurice Cox, the city’s planning director, Dan and his team have “set the bar on what we want from urban development. For Detroit to go from the bankruptcy, which is the lowest point, to this transformation recovery in such a short time is just unprecedented.”
Detroit is now listed on the Lonely Planet’s Top Ten Cities 2018 list, and it was lauded as a top travel destination by the New York Times.
The accolades and praise go on and on. Perhaps most impressive, however, is what’s to come. In what will be their most ambitious project to date, Bedrock recently broke ground on a 1 million square foot mixed-use development in the heart of downtown Detroit. Built on the former site of Hudson’s, the historic retail center of downtown Detroit, the new development will pay homage to the rich history of the original property. In addition, the project will feature an 800-foot tower which will be the tallest building in Detroit upon completion.
At Dealpath, we’re beyond proud of the work that Dan and Bedrock Detroit Real Estate have done, and we hope they serve as a shining example of what can be accomplished with the effective deployment of deal management technology.
To learn more about how leading development teams are using deal management to power their investments, check out our case study on L+M Development Partners and how they’re using Dealpath to aid in their mission to bring affordable housing to New York City.