Dan Gilbert‘s Bedrock Real Estate Services purchased the State Savings’ bank in Detroit, which is more than a century old, and there is talk that Gilbert plans to transform it into a car museum, as reported by Crains. Although Robert Schwartz of Bedrock said the company has not yet determined a use for the building., Stan Finsilver of Friedman integrated real estate told Crain’s Kirk Pinho that a car museum is likely, mainly because Dan Gilbert has openly expressed a desire to build such a museum in Detroit.
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Triple Partners, who sold the building to Bedrock, had planned to demolish it and construct a parking garage in its place. Of course, museums are rarely self-supporting and depend on donation, so funds will have to be raised.
Dan Gilbert has made a significant number of investments in Detroit to revitalize the troubled city. He was born in Detroit to a Jewish family, is founder of QuickenLoans and a majority owner of the Cleveland Cavaliers.