Detroit’s historic Book Tower is formally back open after Thursday’s ribbon cutting ceremony, celebrating the nearly $400 million in renovations.
The 38-story skyscraper initially opened in 1916 at 1265 Washington Blvd, but had fallen into disrepair by the mid-2000s and sitting vacant for over a decade.
Bedrock — the real estate branch of billionaire Dan Gilbert’s cluster of companies — purchased the building in 2015.
Speaking at the ceremony, Gilbert says renovating Book Tower is good for the city.
“It’s exciting to officially unveil this beautiful historic building. This project is proof that something great can happen when you bring numerous passionate people together around a tremendous project,” says Gilbert.
The renovation was the first project to receive Brownfield grants from the state of Michigan, garnering millions in additional tax breaks from the city and state.
Roost Apartment Hotel is the primary tenant with nightly stays in the $200-$300 range and monthly leases from $1,100-$4,000.