Development at Cadillac Square
118 Monroe Ave.
What does it look like?
Rendering of Cosm. Image credit: Bedrock Detroit
What's happening?
Bedrock Detroit broke ground in 2018 on the Development at Cadillac Square (previously Monroe Blocks), but plans stalled in the following years. In 2024, Bedrock was given an extension to May 2025 (from September 2024) to restart construction. Plans in 2024 called for a sports and entertainment venue with 500 seats, called Cosm, and a food hall.
Bedrock has used the space for a temporary winter drive-in movie theater and summer outdoor roller rink and basketball courts with live performances. Initial plans for Monroe Blocks included an $830 million mixed-use development with 847,000 square feet of office space, 482 residential units and 117,000 feet of retail space. The site contains the Albert Kahn-designed National Theater building, with plans calling for restoring the exterior along a pedestrian walkway.
Sources: Curbed Detroit, Detroit Free Press, Crain's Detroit Business, Detroit News, Bedrock
Developers: Bedrock Detroit
What are the property details?
| Parcel ID: | 01000226-31 |
|---|---|
| Taxpayer: | IRIS ACQUISITIONS LLC |
| Taxpayer address: | 630 WOODWARD AVE DETROIT MI 48226 |
| Dimensions: | 101 ft by 100 ft |
Where is it?
What kind of housing is it?
| Units: | 250 |
|---|---|
| Affordability: | Unknown |
Updates
November 1, 2024: Cosm live sports and entertainment venue announced as anchor tenant | Detroit News
August 28, 2024: Extension to groundbreaking deadline approved | Downtown Development Authority
"In February 2023, the DDA Board approved a revised development plan for the Property, consisting of three phases to include a theatre and market hall, office and retail and parking, and residential (the “Project”), with construction on the first phase to commence on or before September 1, 2024. Developer remains committed to constructing a theatre and food hall as the first phase of the Project. However, following the announcement in late 2023 by the Detroit Music Hall of its plans to expand its facilities to include a new 1,900 seat concert venue, Developer has been working to adjust its plans for the theatre to ensure that it does not create an over-supply of similar concert space into downtown and it does not compete with the Music Hall. For these reasons Developer has requested, and DDA staff supports, an extension of the commencement date under the Development Agreement from September 1, 2024 to May 1, 2025....
Mr. Hollowell made a motion to approve the Monroe Blocks: Request for Approval of Commencement Date Extension, as presented. Mr. Jenkins seconded the motion. All were in favor, with none opposed."
February 22, 2023: New development plan and timelines approved | Downtown Development Authority
"Mr. Crain asked Mr. Fleisher to elaborate a bit on how the proposed plan differs from the original plan and what the main differences are. Mr. Fleischer stated the main difference is that the office space is reduced from approximately 800,000 square feet to 400,000 square feet, and the residential component has also decreased. However, they have acquired Cadillac Tower, which is not part of this development plan, but it will remain residential and the number of residential units in the area will remain about the same. The biggest difference is that we are bringing in the theater and market hall. To sustain all of the office space, we need to emphasize living and playing in our CBD....
Mr. Crain made a motion approving the Monroe Blocks: Development Plan and Amendment to Development Agreement, as presented. Mr. Jenkins seconded the motion. All were in favor with none opposed. DDA Resolution Code 23-02-112-22 was approved, with Mr. Ogden abstaining."
Commencement and Completion Deadlines:
The deadlines for Developer to commence construction of each Phase are as follows:
(i) First Phase: September 1, 2024
(ii) Second Phase: October 1, 2026
(iii) Third Phase: January 1, 2028
Completion of Construction. The deadlines for Developer to complete construction of each Phase are as follows:
(i) Phase A1: Thirty-Six (36) months after the applicable commencement deadline for Phase A1.
(ii) Phase B: Thirty-Eight (38) months after the applicable commencement deadline for Phase B.
(iii) Phase A2: Thirty-Six (36) months after the applicable commencement deadline for Phase A2.
April 8, 2020: Transformational Brownfield Plan approved | Michigan Strategic Fund
An Act 381 Transformational Brownfield Plan valued at $618,097,167 was awarded to the City of Detroit Brownfield Redevelopment Authority and Bedrock Management Services, LLC. The Plan encompasses four project sites: the Hudson’s Site, Monroe Blocks, One Campus Martius Expansion, and the Book Building and Book Tower in downtown Detroit. In total, up to 4.2 million gross square feet of office, retail, residential, hotel, parking, and public space will be activated via new construction and historic rehabilitation in Downtown Detroit. The projects are anticipated to create up to 7,738 full time equivalent jobs and a total capital investment of $2.15 Billion.