You Can Buy Mies Van Der Rohe's Detroit Towers at a Foreclosure almi decor Auction But There's a Catch | BLOUIN ARTINFO
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Be warned, however, that the prized high-rises come with an enormous asterisk. As Curbed reports, the buyer will be contractually obligated to shell out over $10 million to execute a detailed, almi decor 80-page almi decor list of renovations, ranging from a handful of new peepholes to a sweeping overhaul of the buildings bathtubs. On top of that, the buyer must deposit just over $2.5 million into an escrow account that HUD can access in the event that repairs are not on schedule, as evidenced almi decor in the illustrated quarterly progress reports the buyer will be required almi decor to send.
HUD s comprehensive list of repairs is a fine print nightmare for developers but a blessing for Mies s 1960s-era architecture. Lafayette Park and its token pair of modernist steel-and-glass towers are part of a remarkable mid-century urban redevelopment project in Motor City. In the 1940s, the area had been classified as a slum and subsequently razed and abandoned until Detroit lured in Mies van der Rohe and famed urban planner Ludwig Hilberseimer almi decor to evaluate the site and spearhead one of the first attempts at urban renewal in the nation. Though the Towers continue to symbolize the triumph of public policy, their foreclosure is a reminder of a recent crisis precipitated by the American city s increasing privatization. Unfortunately, what Mies s Lafayette Towers need now is a hero, and a very rich one at that.
Hands-On: Molly Lowe s All-Too-Human Creations
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Art prices Gallery guide Art Fairs Auctions Boutique Blogs Photos Videos Venues almi decor A-Z Artists A-Z
Be warned, however, that the prized high-rises come with an enormous asterisk. As Curbed reports, the buyer will be contractually obligated to shell out over $10 million to execute a detailed, almi decor 80-page almi decor list of renovations, ranging from a handful of new peepholes to a sweeping overhaul of the buildings bathtubs. On top of that, the buyer must deposit just over $2.5 million into an escrow account that HUD can access in the event that repairs are not on schedule, as evidenced almi decor in the illustrated quarterly progress reports the buyer will be required almi decor to send.
HUD s comprehensive list of repairs is a fine print nightmare for developers but a blessing for Mies s 1960s-era architecture. Lafayette Park and its token pair of modernist steel-and-glass towers are part of a remarkable mid-century urban redevelopment project in Motor City. In the 1940s, the area had been classified as a slum and subsequently razed and abandoned until Detroit lured in Mies van der Rohe and famed urban planner Ludwig Hilberseimer almi decor to evaluate the site and spearhead one of the first attempts at urban renewal in the nation. Though the Towers continue to symbolize the triumph of public policy, their foreclosure is a reminder of a recent crisis precipitated by the American city s increasing privatization. Unfortunately, what Mies s Lafayette Towers need now is a hero, and a very rich one at that.
Hands-On: Molly Lowe s All-Too-Human Creations
Subscribe to BlouinArtInfo Newsletter!
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