What is the total cost of the project?
The total cost is estimated at over $800 million, making the Monroe Blocks project one of the largest investments in Detroit in decades.
How many jobs will the project create?
We estimate the redevelopment of the Monroe Blocks will support thousands of construction-related jobs permanent jobs in the City of Detroit.
What will be in these developments?
In total, [Monroe Blocks] will offer 847,000 square feet of office space, nearly 500 residential units and 117,000 square feet of retail space, in addition to more than an acre of open space.
Will there be public spaces?
The development includes over an acre of open spaces, which are central to the design of the Monroe Blocks. The project is divided into two phases. Each phase is centered around a courtyard space. In addition, the first floor of the office and retail spaces are designed to be fully accessible to pedestrians, connecting the surrounding areas in all directions.
What are your plans for affordable housing?
In 2017, Bedrock made a commitment to the City of Detroit that 20 percent of its residential portfolio would be dedicated to affordable units. In addition to the building of brand-new units, that commitment also represents preservation and renovation of existing affordable housing, to help keep long-time residents in their homes and ensure that future residents will have access to affordable housing options in the greater downtown area.
Over the next several years, Bedrock plans to develop or rehabilitate a total of up to 3,500 residential rental units on its own and with partners. With this agreement, Bedrock committed that 20 percent of the units, or an estimated 700 units, will be affordable housing.
[Monroe Blocks] will be one of the most prominent addresses within Bedrock’s portfolio, and will include affordable units throughout the development.
What are your plans for hiring Detroiters to build these developments?
As economic development continues to heat up downtown, Bedrock is committed to making sure Detroiters are poised to take advantage of the opportunities that arise as a result.
The Quicken Loans Community Fund and Bedrock were lead investors in Mayor Mike Duggan’s effort to revitalize Breithaupt and Randolph Career and Technical schools. These Detroit public schools serve hundreds of youth and adults and provide the technology-based, hands-on education that expands career options.
In November, Bedrock, Barton Malow and Turner Construction Company hosted a massive Ready. Set. Build! career expo at Cobo Center, where over 3,000 job seekers learned about various trades through hands-on demonstrations and video presentations. Attendees met union apprenticeship school directors and interacted with contractors to learn the process for entering the construction industry.
Are you going to be using new MIthrive state brownfield redevelopment incentive for the project?
The new MIthrive brownfield redevelopment legislation for "transformational" projects is critical to making these projects possible.
The Monroe Block has been largely vacant for 20 years or more because, without a program like MIthrive, it has not been financially possible to redevelop them. Bedrock is currently working through the application and approval process, and hopes to complete that process in the next several months.
When are you going to start, and when do you expect to finish?
Construction on the Monroe Blocks began in December 2018 and is anticipated to be complete by 2022.
Will there be parking for people living and working here, and for visitors?
The project will include parking to support the new jobs, businesses and residents at Monroe Blocks – while also supporting broader parking needs in the area. Exact parking plans are still being finalized.