DETROIT — Bedrock has unveiled plans for the Development at Cadillac Square, a 1.5 million-square-foot mixed-use development in downtown Detroit. The Development at Cadillac Square project is the latest incarnation of a previously delayed plan, which was announced in 2016, according to The Detroit News.
The development will be situated between Monroe and Randolph streets, adjacent to Campus Martius Park and Cadillac Square. Construction is expected to commence in 2024. Total costs for the project remain undisclosed, according to the Detroit Economic Growth Corp.
The project will include 230,000 square feet of residential space and approximately 280 units; 90,000 square feet for a market hall, grocer, restaurants and retail; 60,000 square feet dedicated to entertainment offerings including the National Theatre; 1,500 to 1,800 onsite parking spaces; and 400,000 square feet of Class A office space.
The Development at Cadillac Square is subject to an affordable housing agreement with the City of Detroit. The Detroit Downtown Development Authority has approved the plan.
“The Development at Cadillac Square leverages the potential of a central, yet underutilized footprint to further ignite downtown’s offerings,” says Kofi Bonner, chief executive officer at Bedrock. “By enhancing overall access, options and connectivity, we will continue to position Detroit as an energetic city which ultimately benefits the broader community and creates a vibrant core for today and well into the future.”
Development will progress in three phases to ensure that plans are tailored to suit market demand. Phase one is expected to begin Sep. 1, 2024, and will focus on the planned market hall and National Theatre concert venue. Phase two will begin Oct. 1, 2026, and will primarily focus on the residential and retail elements of the development. Phase three will commence on Jan. 1, 2028, and will develop an office tower and further retail options. Construction of each of the three phases is expected to take 36 months.