Detroit's Vacant Broderick Tower Getting New Life as Apartment B - Fox 2 News Headlines

From old building to prime real estate -- Detroit's Broderick Tower is getting a multimillion dollar facelift, and the new tenants can't wait to move in.

The building's been virtually empty for years, but what's happening now is breathing new life into downtown.

"This is the first building you see when you get into the downtown area," Michael Higgins explained.

This historic building that was once a reminder of all that's left Detroit is becoming a sign of its comeback. The David Broderick Tower was built in 1927 and it's been in Higgins' family for nearly 40 years.

"There were no stadiums. It was really kind of an area where most buildings were vacant at the time," he said.

For years, Broderick Tower was no different.

"We did take a lot of heat from the media and from the city for why is the building not being developed," Higgins told us.

Now, downtown Detroit is the place to be, and it's becoming a place where a lot of people want to live. Broderick Tower will soon be downtown's newest address.

The building is undergoing a $53 million renovation. There will be a French wine cafe, an American grill and a German beer garden.  Three floors have already been leased by Invest Detroit, a creative business incubator. The rest are apartments ranging from studios starting at $650 all the way to penthouses that will set you back $5,000 a month.

You're probably thinking who's going to pay that in Detroit? Well, every single penthouse is taken.

"They were all leased within a week," said Higgins.

Despite the city's tough challenges, Higgins is convinced people are ready to bet on downtown Detroit, just like him.

"We did believe in Detroit. We knew it was going to come back," he said.

There are still units available to lease. For more information, visit BroderickTower.com.