Detroit will soon offer upscale living in the heart of downtown when The Residences at the Westin Book–Cadillac opens its doors in 2008. The 67 luxury condominiums will occupy the top eight floors of the historic Book–Cadillac Hotel which is undergoing a $180 million transformation into a four–star, full–service Westin Hotel.
The Westin Book Cadillac Detroit Residences will offer 67 luxury condominiums, ranging in price from the mid $200,000s to more than $1 million. The condos, located on the top eight floors of the historic Book–Cadillac Hotel which is under renovation, will have unparalleled views of the City and the Detroit River and offer access to the hotel pool, fitness center and other amenities. The condominiums will feature floor plans ranging from 800 to 4000–square–feet, a private skywalk from the parking garage, and a separate entrance and elevator to the homes.
Residents can enjoy a nationally–known steakhouse, sports bar, coffee franchise and high–end retail, all with convenient access from the hotel lobby and street. Valet parking, an on-site concierge and doorman, and 24–hour room service will also be available to the residents.
The Westin Book Cadillac Detroit Residences is within walking distance to COBO Conference Center, Ford Field, Comerica Park, Joe Louis Arena and the Riverwalk.
A vision of the Book brothers, J.B. Jr., Herbert and Frank, the Book–Cadillac Hotel was designed by architect Louis Kamper and first opened in 1924. At 33 floors, it was the tallest building in Detroit and the tallest hotel in the world. The Italian–renaissance style building once hosted such famous guests as U.S. Presidents Harry S Truman, Dwight Eisenhower and John F. Kennedy, actor Errol Flynn, and baseball stars Joe DiMaggio and Ted Williams.
The hotel’s demise began in the decades following World War II and it was closed in 1986. In 2004, the City’s Administration called upon The Ferchill Group to provide a lifeline for the Book–Cadillac after a 20–year vacancy and numerous failed attempts to develop it.
The Ferchill Group closed on a $180 million sophisticated financing package to renovate the historic Book–Cadillac Building. The package took more than a year to complete and includes an unprecedented 22 sources of funding. National City Bank, along with its Community Development Corporation, was a significant financing source for both the hotel and condominium components of the project by providing equity, construction financing, and its NCHAMPmortgage loan discount program for condo purchasers.
The Book–Cadillac Hotel has been listed on the National Register of Historic Buildings and will be renovated according to National Park Service standards.
The Ferchill Group has retained Esquire Properties as the exclusive sales and marketing firm for the Residences at the Westin Book–Cadillac. For sales information, please call 313-259-2500 or visit The Westin Book Cadillac Residences Website.