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Gilbert Admits to Buying the Bamlet and Pierson Buildings

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Downtown property hoarder Dan Gilbert announced his ownership of two more properties today, both of which you readers might already be familiar with. Both the Bamlet and the Pierson buildings have smelled like Gilbert purchases for months. In fact, the Pierson has displayed "Bedrock Management" stickers for a few weeks now. But Gilbert's cash means these long-vacant buildings will be renovated. Come check out which two properties have a mixed-use future.

Bamlet Building [1265 Griswold]
We'll start in Capitol Park, where Gilbert has confirmed his ownership of the Bamlet Building. Formerly ranked among downtown's most dangerous buildings, crews suddenly began repair work over the summer. By September, it was pretty obvious that Gilbert was behind everything. The 1897 mid-rise packs 36,000 square feet, and is rumored to become some sort of gallery/studio/live-work situation for artists.
(Look for the Bamlet's Capitol Park neighbors, the buildings at 39 W. Grand River and 119 State to go Gilbert in the near future.)

Pierson Building [1505 Woodward]
Designed by Albert Kahn, the eight-story Pierson Building is now confirmed Gilbert. After years of dark vacancy, the building's nocturnal light shows caught the attention of nearby residents, who tipped us off in August. There isn't much to know about this one—even its official name is uncertain. Many sources have it labeled as the "School Building." With 48,000 square feet, there's a lot room for just about anything.

· Dan Gilbert adds 2 buildings to growing Detroit property list [Freep]