Detroit breaks ground on tallest tower, symbol of resurgence

An 800-foot-tall (244-meter) centerpiece is coming to Detroit’s resurgent downtown as the city continues to build momentum about three years after exiting the largest municipal bankruptcy in U.S. history.

The 58-story building dominating the local skyline will rise on the site of the iconic J.L. Hudson department store, whose 1983 closing epitomized Detroit’s economic downfall.

“When we lost Hudson’s it symbolized how far Detroit had fallen,’’ Bedrock Detroit real estate founder Dan Gilbert said Thursday during a ceremonial groundbreaking for the new building. “When it was imploded in 1998 it was a very sad day for a lot of people.’’

But the bad times for downtown appear to be largely over. Bedrock Detroit’s $900 million, two-building project will include a 58-story residential tower and 12-floor building for retail and conference space. Up to 450 residential units can be built in the tower.

It is one of four projects representing a $2.1 billion investment in downtown by the Detroitbased commercial real estate firm. Altogether, the projects are expected to create up to 24,000 jobs in a city that desperately needs them and generate $673 million in new tax revenue.

Mayor Mike Duggan’s office has spearheaded redevelopment programs targeting a number of city neighbourhoods, but Detroit’s growth is most evident in greater downtown, where office space now is limited and available apartments are tough to come by.