Bedrock Unveils Plans for the Development at Cadillac Square
February 22, 2023
The 1.5 million square foot development, located in the heart of downtown Detroit, will add a range of residential, retail, parking, office and entertainment options to the city’s core.
Bedrock to revive Detroit’s iconic and time-honored National Theatre as a world-class entertainment venue and an anchor of the development.
Phased construction expected to commence in 2024. In the interim, the Monroe Street Midway will continue to bring free, family friendly activations and programming to the community prior to groundbreaking.
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February 22, 2023 [DETROIT]– Bedrock unveiled plans for its continued investment in downtown Detroit today with plans for the Development at Cadillac Square, a 1.5 million square foot mixed-use development situated between Monroe and Randolph Streets, and adjacent to Campus Martius Park and Cadillac Square. The Development will bring a new range of accessible options to live, work, dine, meet and play to the community, while further connecting the Central Business District to surrounding points of interest, amenities and neighborhoods.
“The Development at Cadillac Square leverages the potential of a central, yet underutilized footprint to further ignite downtown’s offerings,” said Kofi Bonner, chief executive officer at Bedrock. “By enhancing overall access, options and connectivity, we will continue to position Detroit as an energetic city which ultimately benefits the broader community and creates a vibrant core for today and well into the future.”
Plans for the 1.5 million square foot development include approximately:
230,000 square feet totalling 250-280 new residential units
90,000 square feet for a market hall, a grocer, restaurants and other retail
60,000+ square feet dedicated to entertainment offerings including the National Theatre
1,500 – 1,800 parking spaces
400,000 square feet of Class A office space
The Development at Cadillac Square is subject to an Affordable Housing Agreement with the City of Detroit.
Additionally, the framework will honor the site’s legacy as Detroit’s premier Theater District. Bedrock will maintain its long-term commitment to preserve the National Theatre’s façade and utilize this historic, architectural gem as the gateway to a modern, world-class music and performance venue.
The development will progress in three phases to ensure that plans are tailored to suit market demand. Phase 1 is expected to begin September 1, 2024 following the 2024 NFL Draft where thousands of visitors will descend upon Detroit, placing a global spotlight on the City. Phase 2 will begin October 1, 2026, with phase 3 commencing on January 1, 2028.
Prior to the start of construction, the space will continue to host the Monroe Street Midway activations and programming. For two years, the Midway has been a downtown destination, introducing several firsts in the Central Business District like the drive-in movie theater, roller rink, and most recently, winter bumper cars. It is also responsible for helping to attract more than 150,000 visitors to the city center. This spring, the Midway will return with free, family friendly events, including roller skating, mini-golf and artwork from local Detroit artists.
Already a vibrant residential district, the Development at Cadillac Square will further amplify live-work-play opportunities, enhancing the growing entertainment, hospitality, dining and retail scene.
For information about the Development at Cadillac Square, please visit developmentcadillacsquare.com and follow Bedrock at:
Bedrock is a full-service real estate firm specializing in innovative city-building strategies, reaching far beyond the boundaries of bricks and mortar. Since its founding in 2011, Bedrock and its affiliates have invested and committed more than $5.6 billion to acquiring and developing more than 100 properties in Detroit and Cleveland, including landmark developments at the Hudson’s Site, the Book Tower restoration, City Modern and the May Company Building.
Bedrock’s portfolio totals more than 19 million square feet of office, retail and residential space within new construction and adaptive reuse projects.
For more information on Bedrock’s projects, visit bedrockdetroit.com or engage with us on Facebook, Instagram, Twitter and LinkedIn. Click here to view a complete timeline of Bedrock and the Rock Family of Companies’ engagement within the Detroit community.