Book-Cadillac renovation gets boost from MSHDA
After a long history of changing hands, the Book-Cadillac Hotel, which was at one time Detroit’s tallest building and tallest hotel in the world, has solid plans for redevelopment.
For its part in the effort, the Michigan State Housing Development Authority (MSHDA) offered a $6 million loan for the landmark’s redevelopment.
The Book-Cadillac will be renovated into 67 for-sale condominiums, as well as a 455-room Westin Hotel, by Cleveland-based Ferchill Group, who will be spending $163 million on the project.
The Book-Cadillac Residences will consist of 22 one-bedroom, 40 two-bedroom, and five penthouse condos. Amenities will include hardwood floors, granite countertops, stainless steel appliances and California Closet packages. Owners will have access to hotel services including concierge services, the pool, health club, maid and room service and others on a fee basis.
Initial occupancy of the Book Cadillac Residences is scheduled for August 2007.
Source: Mary Lou Keenon, Michigan State Housing Development Authority
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