Lafayette Building (Detroit) - Redevelopment Plans

Redevelopment Plans

The Peebles Atlantic Development Corporation announced on December 15, 2005, that it planned to convert the Lafayette into one of Detroit's premier condominium buildings at a cost of more than $40 million. The residential conversion would have included refurbishing the historical exterior and the interior, which would have included 125 modern units with uspcale amenities such as a fitness center and ground floor commercial space. The renovation of this building was slated to start in the summer of 2006 with a completion sometime in the summer of 2007. However, the developer failed to come through with the money and the building remained abandoned.

On November 13, 2007, the City of Detroit offered Quicken Loans the Lafayette Building for $1 as part of their major redevelopment of downtown Detroit. Quicken had a year to choose the site of their headquarters (Hudson or Statler/Tuller Blocks) and to study the redevelopment of two parking lots on Library and Broadway and the Lafayette Building. If redeveloped, the two parking lots and the Lafayette Building were to become a mixed-use building of retail, offices, and residential space. Plans fell through when Quicken decided to relocate only a portion of its staff downtown into the Compuware Building. On December 9, 2008, the City of Detroit issued a request for environmental consulting services to prepare for the demolition of the building.