Dan Gilbert, through his Bedrock real estate company, has added the old Free Press building at 321 West Lafayette in Downtown Detroit to his portfolio.
Now, Gilbert owns both the old Detroit News and Free Press buildings, Both have a lot of historic significance.
The 14-story, 288,517 square foot building was built in 1925 and designed by architect Albert Kahn has sat vacant since 1998.
At one point, everything that happened at the paper, from writing stories to the printing of the paper itself, was carried out inside this massive structure.
According to information from Bedrock, their plans are for “a mixed use redevelopment, while maintaining many of the building’s historic and architectural elements.” Over the course of three owners, the building has seen some serious deterioration.
They expect to reopen the property in 2019 after an extensive renovation and will have offices, residences and first floor retail. The property was purchased in late 2016 from a Chinese investment group, DDI. That group also owned the David Stott building that is now under Gilbert control.
For more history on the Free Press building, check out Historic Detroit.