CPA Building 2238 Michigan Ave Corktown Detroit CPA

CPA Building - 2238 Michigan Ave Corktown, Detroit

CPA Building 2238 Michigan Ave Corktown, Detroit Strengths • • Historic building, district, tax credits Across the street form Slow’s Close to craft-cocktails, coffee shops, boutiques… Close to Wayne State, Mexicantown, Vernor, Bagley, SW Detroit business districts, new stadium/event center Local architecture - Victorian era row houses Train station remains one of Detroit's biggest attractions for tourists. Corktown has waiting list for residential/commercial Weaknesses • • • Opportunities • • Walkscore of 77/100 Align development with Phil Cooley's advocacy/profile/political influence? Close to downtown Exceptional view from the roof Purchase would include the entire block from 14 th to 15 th, allowing for parking and more comprehensive mixed-use development. Michigan Ave may be getting bus rapid transit development in next decade. True “upscale’ residential not present Many vacant lots/buildings Highway is loud Surrounding area still relatively low income. Matty Maroun-owned train station's future up in the air. Elevator shafts are placed in weird locations Quality of public schools? Threats • • How sustainable is commercial growth along Michigan without walkable residential too? in March 2012, the CPA building dropped its price from $1. 4 M to $500 K, now its up to $1 M – what’s going on?