As investors buy up downtown real estate, some buildings face rehab hurdles - 2015-11-14
For example, the Church of Scientology has owned the former Raymond James building at Griswold Street and Jefferson Avenue for eight years. With a riverfront view and eight stories, that 49,000-square-foot building constructed in 1926 and the longtime home of stock brokerage Roney & Co. is finally ready for new life, real estate experts say.
The Los Angeles-based church has proposed some modest modifications. For example, last year it wanted to replace the prominent Raymond James sign atop the building with a Church of Scientology one, but that request was scuttled by the Detroit City Council.
Still it languishes, empty.