January 25, 2017
Bedrock LLC, owned by billionaire Dan Gilbert, acquired the long-vacant Detroit Free Press building at 321 W. Lafayette Blvd. The new owner’s plans are to keep much of the historic and architectural elements intact, while renovating the 14-story property into a mixed-use development. The building had been on the market since fall 2016, for a $16 million ask.
Gilbert told the Free Press that the redevelopment could begin in Q2 2017, and last for approximately two years. Bedrock is anticipating a 2019 reopening date.
The Free Press left the building in 1998 to relocate to 615 W. Lafayette Blvd. DDI Group, a Chinese investment group, acquired the property in 2013 through an online auction.
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