DETROIT (WWJ) -- Detroit's largest real estate developer announced Wednesday that they're now the owners of a prime piece of property on the city's riverfront.
Bedrock purchased "The ICON," which was formerly home to the UAW-GM training center, and boasts a total of more than 420,000 square feet of event, warehouse and office space.
The property located at 200 Walker Street just off of the Detroit river walk sits on 18 acres and has 880 parking spaces.
“Detroit’s riverfront was one of the first of many things about this city that captured my imagination and inspired my move here,” said Kofi Bonner, CEO of Bedrock.
The property is composed of a west building, which is a 8-story office tower and 2-story 375-seat auditorium; a center building, which has a three-story training center and a warehousing space; and a East building, which has a partial mezzanine and a full-service cafeteria.
The building also has a top floor, 360-degree outdoor terrace and direct access to the east riverfront.
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200 Walker Street is located near Bedrock’s recent acquisition of 300 River Place – a 500,000 square feet office building. The two properties are situated almost exactly between Hart Plaza and Belle Isle which Bedrock said will "help extend activity and momentum across the entire riverwalk."
While planning is still in progress, Bedrock said they are thinking about sustainable infrastructure, mixed-income housing, dining, office, public space and more for their new purchase.
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Beyond residential and entertainment opportunities, the area’s proximity to Canada's border may provide opportunities for attracting business and economic growth for Detroit.
Financial figures were not disclosed.
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