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Detroit — Dan Gilbert's Bedrock Real Estate Service has bought two Capitol Park buildings from a Chinese investment group that was criticized for letting the historic structures become empty and neglected.

Bedrock officials confirmed it purchased the David Stott Building and Clark Lofts from the Chinese DDI Group. The investment group bought both buildings at auction two years ago, and since then the group has been criticized by city officials and developers for allowing the buildings to lose tenants.

Capitol Park is a block-long triangle that has attracted more than $100 million in investment since 2009. Its is bounded by Shelby, Griswold and State with an open area in the middle. Gilbert's Bedrock Real Estate owns at least six of the buildings in Capitol Park.

"We look forward to bringing new life to these beautiful properties which are in need of substantial repairs," Jim Ketai, managing partner and CEO of Bedrock Real Estate Services, said in a written statement. "As always, we will fully explore the best possible uses for these buildings that fit with all of the continued growth downtown. The Stott Building and Clark Lofts will no doubt play a vital role in the future of the Capitol Park neighborhood."


The 35-story Stott Building is at 1150 Griswold. The ornate, multi-tiered brick tower was designed in the Art Deco style by the architectural firm of Donaldson and Meier and completed in 1929, Bedrock said.

Clark Lofts, a 10-story building at 35 W. Grand River between Woodward and Griswold, dates to 1922.

Twitter: LouisAguilar_DN

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