In 2021, The Platform listed the building for sale. The Platform has invested more than $30 million in capital improvements, maintenance and upgrades to the building. The Platform's executive chair and chief executive Peter Cummings said in a statement that Michigan State's investments “show the depth of their commitment to the city of Detroit and the New Center neighborhood in particular.” The university fund also recently invested in an affordable housing development by The Platform, and has partnered with Henry Ford Health and professional basketball’s the Detroit Pistons on other developments in the area. It was designed in 1928 by architect Albert Kahn and is listed on the National Register of Historic Places.įisher Building has offices on its upper floors, retail on the lower level and it houses the Fisher Theatre. It is noted for the green terra cotta tiles on its tower that typically are illuminated gold at night. The 30-story Fisher Building is considered by many to be Detroit’s largest work of art for its marble exterior, three-story arcade with hand-painted barrel-vaulted ceiling, spectacular mosaics, and extensive brass detailing. “This new investment signals our continued intent to be part of Detroit’s storied history and vibrancy,” Interim Michigan State President Teresa Woodruff said in a statement. ![]() The other owners are real estate developer and property manager The Platform and the MSU Federal Credit Union. The fund is investing $21 million in the building, two adjacent surface parking lots and a parking structure for a 79% ownership stake. ![]() Greilick/AP Show More Show LessĭETROIT (AP) - Michigan State University's $3.9 billion endowment fund has become the majority investor in the Fisher Building, an iconic art deco style tower near downtown Detroit, the school announced Tuesday. The fund is staking $21 million into the building and several other properties for a 79% ownership stake. Michigan State University's $3.9 billion endowment fund has become the majority investor in Detroit's iconic Fisher Building, according to an announcement Tuesday, June 13, 2023. (Max Ortiz/Detroit News via AP) Max Ortiz/AP Show More Show Less 3 of3 An ornate chandelier hangs inside the Fisher Building as the building celebrates its 80th birthday on Oct. Al Goldis/AP Show More Show Less 2 of3 The Fisher Building rises in the background on April 17, 2021, in Detroit. ![]() 1 of3 FILE - Michigan State's logo hangs on Spartan Stadium before the start of an NCAA college football game between Michigan State and Tulsa, on Aug.
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