Historic Fisher Building Refinancing $36 Million In Debt To Pay For More Upgrades

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The Fisher Building is going to get some more upgrades.

The 1928 Albert Kahn masterpiece — often thought of as Detroit’s largest art object — has been undergoing some renovations but anyone who’s worked there knows there is more work to do.

The refinancing from Boston-based UC Funds that retires existing debt will allow the ownership team of The Platform, HFZ Capital Partners and Rheal Capital Management to do four main things:

  • Modernize three more elevators
  • Renovate the public bathrooms
  • Create a conference center for the building
  • Restoration of the brass doors and other artistic details

This is on top of work already done from the very easy to see — such as restoration work in the grand, three-story arcade — to some that are important but that you wouldn’t see, such as new HVAC and sprinkler systems.

Since changing owners, the Fisher has seen new retail shops and grab-and-go dining options, including the Peacock Room and City Bakery.

New tenants have signed on upstairs and they’ve given the fourth floor a focus on creative businesses.

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