Joe Barbat, the CEO and chairman of Wireless Toyz, purchased a 64,000 square foot building connected to the Hotel St. Regis. The purchase, which closed on Monday, June 23, 2014, is the latest in a series of downtown development purchases by Barbat. In keeping with his desire to maintain ties to the city’s tradition, Barbat will rename the building the Regis Houze.
Barbat’s purchase of the rechristened Regis Houze shows his dedication to Detroit and its people. By providing luxe accommodations to discerning tenants, Barbat is working hard to bring Detroit back. His purchase and renovation of a building that is in a prime location, in the midst of art, theater, business, and retail establishments, will offer interested tenants unsurpassed amenities.
As noted, this is merely the latest in a line of purchases by Barbat. Barbat recently purchase the building that was once the Briggs Hotel. Barbat stated that the building would be renamed the Briggs Houze, reflecting back on its importance as a prime destination for visitors to Detroit. The building drew many during its heyday, starting from its opening in 1937. Renovations to the Briggs Houze are set to be completed within the year.
Barbat continues to invest in the city, working to make its living spaces desirable and affordable. He has the 86,000-square-foot Phillip Neudeck office building under contract and is looking to convert it into 100 apartment units. Like the other buildings Barbat is renovating, it will offer tenants desirable amenities, up-market building materials, and enchanting designs.
While the Neudeck Building has been empty for the past few years, it is ready for renovation. Located on Clifford and Bagley, it was built in 1918. Although a mid-century remodel covered up the building’s original façade, it still has the remnants of the ornate brick that was used initially.
Barbat plans to close on the Neudeck building within the next month, as “due diligence is finalized, and we are ready to go.” The cost of the building and renovations will run between $6.5 million and $7 million.
Dedicated to providing the city and its residents accommodations that are stylish and worthy, Barbat is someone who is on the cutting edge of aiding Detroit in its comeback. Rather than focus only on new construction, Barbat is reinvigorating the city by polishing the jewels it already has. The city is rife with glorious architecture in many styles, from Art Deco to Neoclassical to Post-modern. Detroit’s architecture is among the best in the country. Barbat’s dedication to renovating and hearkening back to the city in its prime show his dedication to a city that is bouncing back.