Bedrock has long been a major supporter of downtown Detroit. And this week, the real estate developer only reaffirmed its commitment to the city by announcing plans for a sprawling new mixed-use development in downtown Detroit.
Bedrock this week unveiled the preliminary plans for the Development at Cadillac Square, a 1.5-million-square-foot mixed-use development that will be located between Monroe and Randolph streets in downtown Detroit. The development will sit adjacent to Campus Martius Park and Cadillac Square.
The Development at Cadillac Square will include residential, office, restaurant, meeting and entertainment space to this section of downtown. It will also serve as a connection between Detroit’s Central Business District and its surrounding neighborhoods.
“The Development at Cadillac Square leverages the potential of a central, yet underutilized footprint to further ignite downtown’s offerings,” said Kofi Bonner, chief executive officer at Bedrock, in a statement. “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.”
Plans for the new development include:
- 230,000 square feet of multifamily space, including 250 to 280 new residential units
- 90,000 square feet for a market hall, grocer, restaurants and other retail
- More than 60,000 square feet of entertainment offerings including the National Theatre
- 1,500 to 1,800 parking spaces
- 400,000 square feet of Class-A office space
As part of the development, Bedrock will preserve the façade of the National Theater, which opened in 1911 as a vaudeville house. It is the only surviving building from Detroit’s first theater district. Bedrock will the theater’s façade to serve as the gateway to a modern music and performance venue.
As to be expected with such a major development, the Development at Cadillac Square will take place in phases, three to be exact. Development of the first phase is expected to begin Sept. 1 of next year following the 2024 NFL Draft which will bring thousands of visitors to Detroit. Construction on the second phase will begin October 1 of 2026, with work on the third phase beginning Jan. 1, 2028.
Prior to the start of construction, the space will continue to host the Monroe Street Midway activations and programming. For two years, the Midway has been a downtown destination, introducing several firsts in the Central Business District such as a drive-in movie theater, roller rink and winter bumper cars.
The Midway is also responsible for helping to attract more than 150,000 visitors to the city center. This spring, the Midway will return with free events, including roller skating, mini-golf and artwork from local Detroit artists.
Already a vibrant residential district, the Development at Cadillac Square will further amplify live-work-play opportunities, enhancing the growing entertainment, hospitality, dining and retail scene, Bedrock said.