News Article: Joe Louis Arena to be demolished. Detroit agrees to give site to creditors

[chances14]

looks like the city of detroit has lost the site of joe louis arena in bankruptcy deal

Downtown Detroit's west riverfront would be transformed with a new hotel, residential and retail complex on the site of Joe Louis Arena and its parking garage, under a deal the city and its largest holdout creditor announced this morning.

The creditor, bondholder Financial Guaranty Insurance Co., would agree to redevelop the 8.6 acres by 2020, with a new hotel that would serve Cobo Center alongside new retail and condos, a redevelopment that officials say could open up the west riverfront to even more development in coming years.

http://www.freep.com/story/news/local/detroit-bankruptcy/2014/10/16/fgic-settlement-update/17319079/

Click to read more...

 

[The Zetterberg Era]

Good, most of us have stated given the positioning on the water that the land around the JLA would be re-purposed without much fear. This isn't Michigan and Trumbull.

 

[Winger98]

Good, most of us have stated given the positioning on the water that the land around the JLA would be re-purposed without much fear. This isn't Michigan and Trumbull.

How does this affect enlarging Cobo, though? I don't follow Detroit politics too closely, but I remember hearing a lot of talk that the city can't attract conventions to the space because the size is too small by modern standards. And part of the appeal of the Wings moving, was having space to enlarge Cobo.

If they can't make Cobo nicer, they won't get the out of town traffic to support this hotel or whatever, which will result in just another dead spot in the city.

 

[irishock]

**** arena but great crowd.

 

[THW]

When do seats go up for sale?

 

[ScottyBowman]

How does this affect enlarging Cobo, though? I don't follow Detroit politics too closely, but I remember hearing a lot of talk that the city can't attract conventions to the space because the size is too small by modern standards. And part of the appeal of the Wings moving, was having space to enlarge Cobo.

If they can't make Cobo nicer, they won't get the out of town traffic to support this hotel or whatever, which will result in just another dead spot in the city.

Not sure where you live but they have been doing major work to Cobo the last couple of years.

 

[Chex LeMeneux]

How does this affect enlarging Cobo, though? I don't follow Detroit politics too closely, but I remember hearing a lot of talk that the city can't attract conventions to the space because the size is too small by modern standards. And part of the appeal of the Wings moving, was having space to enlarge Cobo.

If they can't make Cobo nicer, they won't get the out of town traffic to support this hotel or whatever, which will result in just another dead spot in the city.

AFAIK that's what that huge Cobo Arena renovation project was for. That was my impression anyways, unless they still need more space for something.

 

[ArGarBarGar]

When do seats go up for sale?

I don't know if you want to buy those seats.

 

[BF3]

Best thing - old concrete brick on the waterfront. That's valuable land.

 

[19 for president]

AFAIK that's what that huge Cobo Arena renovation project was for. That was my impression anyways, unless they still need more space for something.

That is correct unless something changed since their initial announcement. Cobo is actually quite large and in terms of total space I think is only significantly smaller than NO & Orlando in terms of convention centers. The big issue with Cobo was that the building layout was horrific and the interior desperately needed to be updated. They've been doing major reconstruction since a few ago and have already added a proper entryway/ atrium from the river and are currently doing major work on the old theater part. So basically there wasn't a need to expand but to fix. I think they have it all worked out with the Auto show, which was the main reason for the changes.

Giving the Joe land to a private investor is probably for the best. If it remained in city hands, it would probably sit there for the next 20 years. Sadly I'm sure we'll just see a bunch of Condos put up, which isn't bad but I'd love to see something there that a lot of people will be able to appreciate.

 

[icKx]

Hard to believe the city needs yet another hotel.

 

[Shoalzie]

That waterfront area needs to be built up...no need to leave a vacant arena there. Do something useful with that land. Great memories with the Joe but if the Olympia can be demo'd then this can be demo'd.

 

[crashman]

Best thing - old concrete brick on the waterfront. That's valuable land.

I love the Joe and I'll absolutely miss it. It's definitely a bad location for an arena, but could be prime for many other things. I just hope they do something positive with it.

Now that the demolition has become a reality, I'm getting a little sentimental. I've been to a lot of games at that old dump.

 

[smurfyeah19]

Hard to believe the city needs yet another hotel.

It does. My mom runs a hotel in Novi that's constantly sold out because the metro area has such a shortage. She's good at her job but said there were no hotel rooms open in the metro area for the winter classic at all

 

[ScottyBowman]

Hard to believe the city needs yet another hotel.

Thats what people think but there is a ton of industry in Detroit and a lot of conventions. You'd be surprised at the shortage of hotel rooms and apartments in Downtown Detroit. Its slowly coming back.

 

[Winger98]

AFAIK that's what that huge Cobo Arena renovation project was for. That was my impression anyways, unless they still need more space for something.

I only ever heard about Cobo when the Wings wanting a new arena was talked about, and it was always linked with the city wanting land to expand Cobo. Looking at Cobo's website, the renovations look good.

 

[BF3]

I love the Joe and I'll absolutely miss it. It's definitely a bad location for an arena, but could be prime for many other things. I just hope they do something positive with it.

Now that the demolition has become a reality, I'm getting a little sentimental. I've been to a lot of games at that old dump.

As have I, and it's a great place to watch a game in a lot of ways, but this makes so much sense (not that you were arguing against it). Looking forward to the new arena district with Ford field and Comerica.

 

[detredWINgs]

At first glance, this is great news. Its almost bizarre that Cobo doesn't have its own on-site hotel and with the riverwalk being used by so many students, young professionals, and soccer moms, its crazy that they don't really have any convenient dining options that aren't upscale restaurants. Its almost begging for a coffee shop and/or sandwich joint.

I have two decades worth of memories at the Joe and I'll be sad to see it go but pushing the arena uptown and developing the Joe's land for a better purpose is exciting to see.

 

[Chex LeMeneux]

I only ever heard about Cobo when the Wings wanting a new arena was talked about, and it was always linked with the city wanting land to expand Cobo. Looking at Cobo's website, the renovations look good.

I think the whole issue was tied to the "do the Wings stay at the Joe or don't they?" debate. It took so long for that to be decided that the people in charge decided to go a different route. I think they wanted the land that's currently occupied by the Joe because of the Cobo layout. 19 for president pointed it out, but the layout of Cobo really is kind of bizarre. Even now there will be a giant concourse separating the Arena ballroom area from the main convention floor. The renovations definitely look slick though. We went through the main atrium area on our way to a game last year, and it looked pretty nice in there.

At first glance, this is great news. Its almost bizarre that Cobo doesn't have its own on-site hotel and with the riverwalk being used by so many students, young professionals, and soccer moms, its crazy that they don't really have any convenient dining options that aren't upscale restaurants. Its almost begging for a coffee shop and/or sandwich joint.

Definitely. I can just see a strip of small retail and restaurants along that part of the riverwalk. Put a Jimmy John's or Chipotle/Qdoba there and it'll make a killing. Really have high hopes that this will tie that whole riverwalk together. That'd definitely be good for the city.