skip to main content



Discover how our decades of residential, industrial, commercial, and heavy highway construction tax & audit experience can assist your businesses profitability and cash flow.


August 27, 2019


Construction on the $830 million, mixed-use Monroe Blocks project has come to a standstill. The developer, Bedrock LLC, who is backed by Quicken Loans founder Dan Gilbert, has $2 billion worth of Detroit construction projects that are currently in process. Current economic conditions have resulted in labor shortages and rising construction costs (an average increase of 5.7% between 2017 and 2018 according to the latest Rider Levett Bucknall quarterly survey). In addition, construction costs are expected to be impacted by the recent price increase in tariffs imposed on Chinese goods, but we are hoping to see this offset by tariffs lifted on steel and aluminum imported from Mexico and Canada. 

Bedrock is also currently contracted to build a new $909 million high-rise on the former site of the iconic Hudson’s department store, a $311 million Book Tower redevelopment and $95 million for one Campus Martius addition. The Company received $618.1 million in brownfield tax incentives from the State of Michigan in the past year for these four projects combined, but they must be completed by May 2023 to retain the entire dollar value. Stay tuned for more information on these developments as the year passes.

Hide Firm Disclaimer


UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc., and its subsidiary entities. UHY Advisors, Inc.’s subsidiaries, including UHY Consulting, Inc., provide tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors” and “UHY Consulting”. UHY Advisors, Inc., and its subsidiary entities are not licensed CPA firms. UHY LLP, UHY Advisors, Inc. and UHY Consulting are U.S. members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP, UHY Advisors and/or UHY Consulting (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.

On this website, (i) the term "our firm", "we" and terms of similar import, denote the alternative practice structure conducted by UHY LLP and UHY Advisors, Inc. and its subsidiary entities, and (ii) the term "UHYI" denotes the UHY international network, in each case as more fully described in the preceding paragraph.