One Kennedy Square office tower nears completion

Detroit’s
newest office tower, One Kennedy Square, located at 777 Woodward,
facing Campus Martius, should be ready to open its doors in April, says
Tysen McCarthy, senior vice president at Redico.

Construction began on the 10-story, 240,000-square-foot glass
structure in June 2005. Southfield-based Redico Real Estate Development
and Investment Co. bought the formerly vacant property from the City of
Detroit for $1. Besides the cheap price tag, Redico was also attracted
to the site because of its Renaissance Zone status.

The total construction bill for the project will total $54 million.
Currently, Ernst & Young and Visteon Corp. are set to move
employees into the new building after completion. The building will
have room for a total of 10 offices. Tenants for the remaining space
have yet to be determined, McCarthy says.

Source: Tysen McCarthy, senior vice president, Redico