Honigman Miller Schwartz and Cohn LLP represents Federal Reserve Bank of Chicago in Development of New Branch Facility in Detroit, Michigan
Larry McLaughlin, Partner and Chair of the Real Estate Department; John Pirich, Partner in the Regulatory Department; Fred Frank, Partner in the Real Estate Department; Grant Trigger, Partner in the Environmental Department; and Josh Opperer, Partner in the Corporate Department, recently represented the Federal Reserve Bank of Chicago (the FRB) in connection with the development of its new Detroit branch facility. The FRB Detroit branch has been located at its existing location on Fort Street for 75 years. The new facility will be a 260,000 square foot cash and check processing facility that will be located in the Forest Park Rehabilitation District (Warren-Russell area).
The firm negotiated the Development Agreement with the City of Detroit and secured various critical governmental entitlements for the Project, including tax abatement, a brownfield plan and necessary variances.
Chairman Alan Greenspan formally announced the project at a press event held in Detroit on June 20, 2002.
Construction of the project is scheduled to commence in the Spring of 2003.