Livonia-based Schostak Bros. & Co. plans to build a $111-million, 16-story office building on Monroe Street downtown, the first new major office building construction in Detroit's central business district since construction on One Kennedy Square began in 2005.
The Detroit Brownfield Redevelopment Authority's nine-member board has reviewed a $27-million brownfield tax incentive plan for site preparation and infrastructure improvements for the building, which is expected to include first-floor retail space and a parking deck wrapping around Cadillac Tower facingCampus Martius.
.....A timeline for the building's construction is not known.
Calls to Schostak Bros. Director of Corporate Real Estate Services Jeff Schostak and David Johnes, vice president of the company's director of development and construction, were not immediately returned on Monday afternoon.
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