Friday, July 11, 2014

The Post-Post-Apocalyptic Detroit

 

In downtown Detroit, at the headquarters of the online-mortgage company Quicken Loans, there stands another downtown Detroit in miniature. The diorama, made of laser-cut acrylic and stretching out over 19 feet in length, is a riot of color and light: Every structure belonging to Quicken’s billionaire owner, Dan Gilbert, is topped in orange and illuminated from within, and Gilbert currently owns 60 of them, a lordly nine million square feet of real estate in all. He began picking up skyscrapers just three and a half years ago, one after another, paying as little as $8 a square foot. He bought five buildings surrounding Capitol Park, the seat of government when Michigan became a state in 1837. He snapped up the site of the old Hudson’s department store, where 12,000 employees catered to 100,000 customers daily in the 1950s.

 Many of Gilbert’s purchases are 20th-century architectural treasures, built when Detroit served as a hub of world industry. He bought a Daniel Burnham, a few Albert Kahns, a Minoru Yamasaki masterwork with a soaring glass atrium. “They’re like old-school sports cars,” said Dan Mullen, one of the executives who took over Quicken’s newly formed real estate arm. “These were buildings with so much character, so much history. They don’t exist anywhere else. And it was like, ‘Buy this parking garage, and we’ll throw in a skyscraper with it.’ ”

For the rest of the story: http://www.nytimes.com/2014/07/13/magazine/the-post-post-apocalyptic-detroit.html?_r=0

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