Developer Bets on Detroit

“Since 1984, the 33-story Book-Cadillac hotel has stood gutted and abandoned on a downtown block surrounded by dormant storefronts and vacant buildings. Mr. Ferchill plans for it to open in the fall of 2008 as a 455-room Westin. The top eight floors will house 67 upscale condo units, most of which have already been sold. Penthouses commanded as much as $1 million..”
By Mike Spector
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