Wayne County looks to ink sale of ‘gateway’ building

Dec. 19--Wayne County appears close to inking a deal to sell the 96-year-old Standard Accident Insurance Co. building, which has been billed as a "true gateway" to Midtown and the residential and entertainment district planned around the Red Wings' new arena.

The eight-story building designed by famed architect Albert Kahn, at 640 Temple, is just down the street from the Detroit Masonic Temple and a few blocks from the Little Caesars Arena, which is under construction and will host the Red Wings and Detroit Pistons next year. The building, which faces Cass Park, would be retrofitted to mixed use, including residential and retail, according to Jim Martinez, a spokesman for Wayne County Executive Warren Evans, who touted the benefits of the deal.

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"We got an offer well above the appraised value and that reflects the momentum we're seeing in the city. If this deal moves forward it should be another highlight in the transformation story ... and the energy that we're seeing around Midtown and District Detroit," Martinez said.

A website for District Detroit, described as a multi-block area that encompasses neighborhoods, theaters and sports arenas in the city, says it "will be 50 blocks of thriving businesses, parks, restaurants, bars and event destinations. It will be home to the young and the young at heart, families, new residents and longtime residents who want to be where the action is."

The building currently houses 29-34 employees in two Wayne County departments -- the Detroit Vital Records Division of the Wayne County Clerk's Office and the Department of Public Services -- Martinez said in an e-mail. Employees would likely move to another location in the first quarter of next year. The deal is currently being evaluated by staff of the Wayne County Commission, which must approve the sale.

The potential buyer is Temple Holdings, and "the principals behind this company include Byzantine Holdings through Christos Moisides and David P. Sutherland, as well as a Detroit-based female philanthropist," according to information from the county. Moisides is an executive member of 400 Monroe Associates and Sutherland is a partner in a law firm, which has offices in Troy and St. Clair Shores. The philanthropist was not identified.

Martinez declined to release the proposed sale price.

The sale fits in with the Evans administration's previously announced efforts to sell underutilized or unneeded real estate and move employees into other county-owned or leased properties to save money, Martinez said.

The building, which was built in 1920, is 167,000 square feet (190,000 if the sub-basement is included), Martinez said.

A flyer describing the property notes that it has parking for more than 200 cars as well as high ceilings and open courtyards along the east and west sides.

A listing on historicdetroit.org says "the building was made of concrete with a steel skeleton, with a front facade of Bedford stone. It featured a number of luxuries for Standard's employees, including a recreation room, a first aid room, a smoking room and a garage in back." The website noted that the building is designed in the Classical Revival style.

Contact Eric D. Lawrence: [email protected]. Follow him on Twitter @_ericdlawrence.

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