Is a New Residential Building Coming to Monroe Street?

The fate of the National Theatre is still uncertain, but there's a juicy hint as to what the future might hold for the surrounding block. Jim Ketai of Bedrock Real Estate Services spilled the beans to the Free Press over the weekend, mentioning that he envisions a residential development on/around the National Theatre's property.
Things are a little shaky, though. After Ketai indicates Monroe Street could see something residential, we get this golden paragraph:

Now that the Bates Garage(red) is gone, the site will likely be sold to Dan Gilbert along with the National Theatre (yellow). The Pochelon and Sachs buildings (Blue) are already under Gilbert control. Because new windows have recently appeared on the Pochelon's eastern side, it seems likely to be spared from demolition. That still leaves almost the entire block open to Gilbert development. It would be great to see the majority of it developed as something residential.

· Michigan Bell Building and National Theater in Detroit are in for changes [Freep]