Coincidentally enough, the first comment to come up, by nick, referenced the westin bookcadillac building in detroit. Oct 06, 2008 noting stories like drakes about her father once working there, ferchill acknowledged the book cadillacs deep roots in the city. Helping to finance the book cadillac wasnt an ignoble idea, or, at least as far as we know, a corrupt one. After several rehabilitation attempts failed, the city of detroit took ownership of the building and identified the ferchill group of cleveland as developer. The hotel changed hands several times after the great depression, until it fell into disrepair and sat empty for more than 20 years. Chairman and ceo john ferchill, owner and developer, the westin book cadillac detroit. Beautifully restored to its original splendor and located in downtown detroits historic district, the westin book cadillac detroit offers spacious guest rooms, a heated indoor pool, several noteworthy restaurants and exceptional event venues. Ferchill, chairman and ceo of ferchill group, is a mainstay in the downtown cleveland real estate industry. Posts about john ferchill written by austin black ii. Union officials say that hotel guests are canceling reservations to. Sep 22, 2008 anatomy of the deal rising from the ashes of bankruptcy, the restoration of the book cadillac hotel proved to be one of the most complicated redevelopment efforts in the nation. Since 1984, the 33story bookcadillac hotel has stood gutted and abandoned on a downtown block surrounded by dormant storefronts and vacant buildings, according to the journal. Built in 1924, our historic hotel was built to help turn washington avenue into the fifth avenue of the midwest. Enter your email address to subscribe to this blog and receive notifications of new posts by email.
But he said the hotel is performing well and is not at risk of foreclosure. Of the 67 condominiums planned for the hotels top floors, 60. Apr 18, 2009 this piece was inspired by the grand reopening of the westin book cadillac hotel in detroit october 2008, as a gift and a tribute to the developer, john ferchill. Shortly after the book cadillac deal, another developer approached detroit officials to build a separate condo project on top of the hotels adjacent garage. Nov 05, 2008 detroits redevelopment also prompted the ferchill group to believe there would be a market for a highend noncasino hotel and to take on the book cadillac project.
A developer bets on detroit by giving old hotel a facelift wsj. Union officials say that hotel guests are canceling reservations to avoid crossing the picket line outside marriottoperated. Mar 17, 2007 around detroit, the bookcadillac is an icon. The book cadillac hotel stood vacant since the mid 1980s. Galvan joined the developer, john ferchill, head of the clevelandbased ferchill group, detroits mayor kwamee kilpatrick and. Developer john ferchill says the hotel part of the book cadillac is doing strong financially. The book cadillac will cater to the event and business crowd by offering ballroom and meeting space, something ferchill says has been available only in the suburbs. To his right is a full, spectacular view of capitol park. Nov 18, 2008 i am glad that some people see the worth of restoring historic buildings. The book cadillac hotel has been listed on the national register of historic buildings and will be renovated according to national park service standards.
Just over a year ago, developer john ferchill led a tour of journalists through the ruins of the historic hotel. The bookcadillac will cater to the event and business crowd by offering ballroom and meeting space, something ferchill says has been available only in the suburbs. I am glad that some people see the worth of restoring historic buildings. Ferchill group chairman and ceo john ferchill said that the westin book cadillac hotel and apartment complex is not struggling financially, but could. Rising from the ashes of bankruptcy, restoration of the book cadillac. Trades writing their chapters in bookcadillacs renovation by marty mulcahy, editor. The westin book cadillac detroit opens and inspires. Cleveland developer john ferchill said thursday that he could hold a grand opening for his hotel project as soon as late september. Detroit the westin book cadillac hotel is quite literally coming out of its shell. Cleveland developer john ferchill brings back historic. Everybodys excited about being part of the book hotel. According to the free press, john ferchill developer behind the bookcadillac hotel plans to demolish the aging professional plaza tower, replacing it. Giant medical arts building will replace midtown highrise. The ferchill group closes on book cadillac refinance bgl.
Aug 05, 2009 posts about john ferchill written by austin black ii. I could not be happier at how this hotel looks and feels its elegant, sophisticated and inviting, and has all the signature services and amenities that. Book cadillac not paying loans from the pension funds. Mar 16, 2010 john marusich scans the downtown detroit skyline over the westin book cadillac hotel from his 32nd floor office in the david stott building. Industry real estate capital markets target company the ferchill group view press release. Detroits redevelopment also prompted the ferchill group to believe there would be a market for a highend noncasino hotel and to take on the book cadillac project. Designed in the neorenaissance style, and constructed as the book cadillac, it is part of westin hotels and embodies neoclassical elements and building sculpture, incorporating brick and limestone. Everybodys got a story about the book, said john ferchill, the clevelandbased developer behind the renovation. John ferchill still bristles at the onesentence letter he received from the. We continue to look for unique metropolitan living opportunities that will welcome new residents and investment to the communities that have welcomed us. The westin book cadillac detroit is a historic skyscraper hotel located at 1114 washington boulevard in downtown detroit, michigan, within the washington boulevard historic district. Now, lovingly restored to the opulence of the time, our hotel offers a place to relax and.
The worlds tallest hotel, it boasted an opulent, italian renaissanceinspired design. The wall street journal ran an extensive piece on the book cadillac, its developer, john ferchill, and downtown in general. Wall street journal profiles book cadillac, ferchill. Jul 28, 20 residential sales have picked up in recent months at the ferchill groupowned westin book cadillac detroit, which is now clear of a recent loan default notice from state officials the michigan. Ferchill is deeply involved in an effort to turn the abandoned 33story book cadillac hotel in the motor.
A new renovation plan through the clevelandbased ferchill group was announced in june 2006, with the book cadillac to become a westin hotel and residences. Jennifer granholm, chris ferchill, ferchill group chairman ceo john ferchill and his wife sharon and detroit mayor ken cockrel jr. Westin book cadillac detroit master thread flyertalk. Renovation of detroits bookcadillac hotel aims to provide.
The cleveland developer is known for urban redevelopment projects and historic renovations, such as his recent transformation of the book cadillac hotel in downtown detroit. Downtown detroits westin book cadillac has not been. Detroits redevelopment also prompted the ferchill group to believe there would be a market for a highend noncasino hotel and to take on. The bookcadillac went completely vacant in the mid1980s and was a home to vagrants and the subject of demolition threats until ferchill group came along two. Detroit the westin bookcadillac hotel is quite literally coming out of its shell.
Designed in the neorenaissance style, and constructed as the bookcadillac, it is part of westin hotels and embodies neoclassical elements and building sculpture, incorporating. Im counting on the city of detroit reviving itself in a manner that nobody expected to happen. Ferchill, 66, chairman of the ferchill group, a cleveland. The westin book cadillac detroit welcomes you to the birthplace of motown with energizing style and an unparalleled downtown location. Ferchill group chairman and ceo john ferchill said that the westin book cadillac hotel and apartment complex is not struggling financially, but could not say why the loans are not being paid off. The cleveland developer is known for urban redevelopment projects and historic renovations, such as his recent transformation of the bookcadillac hotel in. Jul 29, 2011 the book cadillac hotel played host to joe lewis, president john f.
Ferchill is deeply involved in an effort to turn the abandoned 33story bookcadillac hotel in the motor. Were not in default, so i dont know what the problem is, he said. Developer of the westin book cadillac announces renovation of the book tower. Ferchill plans for it to open in the fall of 2008 as a 455room westin. John ferchill with the ferchill group, a cleveland real estate developer is going to bring over 400 employees to the city of detroit starting in the fall of 2008. Bglrea acted as the advisor to john ferchill and the ferchill group, the developer and owner of the project. The ferchill group has retained esquire properties as the exclusive sales and marketing firm for the residences at the westin bookcadillac. But for all the ones restored, others were lost to demolition, like the tuller and statler cadillac. This is a deal that couldnt have happened without the westin flag and the support of the entire starwood development group, remarked john ferchill, chairmanceo of the ferchill group. Historic luxury hotel in downtown detroit the westin book.
The 33story luxury hotel hasnt been open in over 2o years. Shortly after the bookcadillac deal, another developer approached detroit officials to build a separate condo project on. The condos, located on the top eight floors of the historic bookcadillac hotel. The hotel and residences will be unlike anything the city of detroit has ever seen, and we look forward to working closely with starwood to make this the. Residential sales have picked up in recent months at the ferchill groupowned westin book cadillac detroit, which is now clear of a recent loan default notice from state officials. Jul 27, 2018 cleveland july 27, 2018 bgl real estate advisors bglrea is pleased to announce the closing of the refinance of the westin book cadillac in downtown detroit, michigan. Ultimate hotel makeovers fairmont hotel, bookcadillac. Detroit seeks a revival in book cadillac hotel the new york. This piece was inspired by the grand reopening of the westin book cadillac hotel in detroit october 2008, as a gift and a tribute to the developer, john ferchill.
The bookcadillac glistens above washington boulevard, a towering symbol of detroits latest attempts at a renaissance. For sales information, please call 32592500 or visit the westin book cadillac residences website. Mar, 2007 the book cadillac hotel was the epitome of glamour when it opened its doors in 1924. Book cadillac pays on loan, avoids state default notice. It included 22 levels of financing, a clouded title, political theatrics inside the governors office, creative equity, and the fulfillment of one mans dream. Cleveland july 27, 2018 bgl real estate advisors bglrea is pleased to announce the closing of the refinance of the westin book cadillac in downtown detroit, michigan. Anatomy of the deal rising from the ashes of bankruptcy, the restoration of the book cadillac hotel proved to be one of the most complicated redevelopment efforts in the nation. No one thought the book would ever open again, said ferchill group chairman and ceo john ferchill, owner and developer of the westin book cadillac detroit.
Trades writing their chapters in bookcadillacs renovation. After it closed in 1986, the longmoldering book cadillac hotel became a source of tension between preservationists and those who considered it blight. News photo gallery blacktie gala at the book cadillac. The group bought detroits legendary hotel the book cadillac in 2006. A quote from john ferchill, savior of the book cadillac, man who wants to rehab the book building, the man who knows development inside and out when i read all these yoyos saying it can be saved, im saying thats just nuts, ferchill said. We believe that the opening of the westin book cadillac detroit will be one more spark to ignite a renewed interest in living, working, visiting and investing in the city.
John marusich scans the downtown detroit skyline over the westin book cadillac hotel from his 32nd floor office in the david stott building. For a man whose business played an integral role in some of downtown clevelands largest projects of the 1990s, its surprising to most to learn that john ferchill is not a native clevelander. The book cadillac glistens above washington boulevard, a towering symbol of detroits latest attempts at a renaissance. Residential sales have picked up in recent months at.
With its plush ballrooms, swanky lounges and breathtaking lobby, the building has. The book cadillac went completely vacant in the mid1980s and was a home to vagrants and the subject of demolition threats until ferchill group came along two years ago and struck a deal to spend. Beautifully restored to its original splendor and located in downtown detroits historic district, the. Bgl advises the ferchill group westin book cadillac hotel. Noting stories like drakes about her father once working there, ferchill acknowledged the book cadillacs deep roots in the city. It was meticulously restored as a westin hotel in 2008, and it now serves as a hotel with. Ferchill and analysts credit the bookcadillac success to the cachet of living in what was once detroits crown jewel, plus the fact that the condos cost attracted upscale buyers unaffected by the states economic. Ferchill and analysts credit the book cadillac success to the cachet of living in what was once detroits crown jewel, plus the fact that the condos cost attracted upscale buyers unaffected by the states economic. Onceglamorous bookcadillac due to return twin cities. Just over a year ago, developer john ferchill led a tour of.
The westin book cadillac detroit claim this business. The bookcadillac hotel was the epitome of glamour when it opened its doors in 1924. Detroit seeks a revival in book cadillac hotel the new york times. Residential sales have picked up in recent months at the ferchill groupowned westin book cadillac detroit, which is now clear of a recent loan default notice from state officials the michigan.
The westin book cadillac detroit detroit, mi business. I hope the fate of the book cadillac is followed by some of the other old abandoned hotels that are planned to be restored, like i believe the fort shelby. The quick sell has surprised even the hotel developer, 40year veteran john ferchill, owner of the clevelandbased ferchill group. The ferchill group has developed, owned andor managed more than 1,775 living units in residential real estate.