One of the tallest buildings in Detroit’s skyline is officially back open, after nearly 400 million dollars in renovations. Book Tower initially opened in 1916, but fell into disrepair by the mid 2000’s. Bedrock, the real estate branch of billionaire Dan Gilbert’s cluster of companies, purchased the building in 2015.
Speaking at a ribbon cutting ceremony today Gilbert says reborn Book Tower is a win for the city.
"It's exciting to officially unveil this beautiful historic building one of our guiding philosophies that we use in business. You will see it when you believe it is taking place right here took tremendous belief the first time we stepped into this building. This project is proof that something great can happen when you bring numerous passionate people together around a tremendous project." said Gilbert.
The renovation was the first project to receive Brownfield grants from the state of Michigan, saving developers millions. The Roost Apartment Hotel is the primary tenant, with monthly rentals ranging between 11-hundred and 41-hundred dollars.
