As investors buy up downtown real estate, some buildings face rehab hurdles - 2015-11-14

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F0.png As investors buy up downtown real estate, some buildings face rehab hurdles November 14, 2015, Kirk Pinho, Crain's Detroit Business

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.


{{cite news | first = Kirk | last = Pinho | title = As investors buy up downtown real estate, some buildings face rehab hurdles | url = http://www.crainsdetroit.com/article/20151114/NEWS/311159983/as-investors-buy-up-downtown-real-estate-some-buildings-face-rehab | work = Crain's Detroit Business | date = November 14, 2015 | accessdate = January 14, 2017 }}