Bedrock announces plans for Cadillac Square development
(CBS DETROIT) - On Wednesday, Bedrock unveiled plans to further invest in the development at Cadillac Square between Monroe and Randolph streets in Detroit.
Officials say the 1.5 million square foot development would include 230,000 square feet of 250 to 280 residential units, 90,000 square feet for a market hall, grocer, restaurants and other retail, 60,000-plus square feet for entertainment offerings such as the National Theatre, 1,500 to 1,800 square parking spaces, and 400,000 square feet of Class A office space.
The project is subject to an affordable housing agreement with the city.
The development will also honor the site's legacy as the city's premier Theater District, maintaining the National Theatre façade and "utilize this historic, architectural gem as the gateway to a modern, world-class music and performance venue."
"The Development at Cadillac Square leverages the potential of a central, yet underutilized footprint to further ignite downtown's offerings," Bedrock CEO Kofi Bonner said in a press release. "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."
Phase 1 of the project is expected to begin on Sept. 1, 2024, wheres Phase 2 is scheduled to begin on Oct. 1, 2026.
Phase 3 is expected to begin on Jan. 1, 2028.
In the meantime, the site will continue to host the Monroe Street Midway, which as featured a drive-in movie theater, roller skating and winter bumper cars.
