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In 2003, Detroit celebrated the successful opening of its first new hotel in more than a decade, proving that developers and investors needn't be intimidated by difficult projects in Rustbelt cities.

The Ferchill Group is proud to have given downtown Detroit a needed boost with the development of its 198–room Hilton Garden Inn in the city's historic Harmonie Park neighborhood. The hotel is conveniently located in the heart of the central business district just a stone's throw from Ford Field, Comerica Park and Greek Town Casino.

The Ferchill Group purchased the four acres of underutilized land just days before the tragic events of September 11, 2001 that decimated the nation's travel and tourism industry. Just six months after 9/11, The Ferchill Group was among the first developers to obtain financing and secure a hotel franchise.

To make the project work and obtain community buy–in, the Ferchill team was sensitive to the unique character and aesthetics of the surrounding historic neighborhood and despite the resulting increased costs completed the project on budget.

The Hilton now caters to the nearly 16 million sports fans, casino enthusiasts, business travelers and visitors that come to the city each year, consistently boasting occupancy levels above 70 percent. Indeed, the project helped to accommodate hundreds of visitors to the 2006 Super Bowl game on February 5, 2006 between the Pittsburgh Steelers and Seattle Seahawks.

Project Financing:
Along with Ferchill equity, the $28 million project was made possible by:

• $15 million Union Labor Life Insurance/construction loan from Bank of America
• $4 million development loan from city of Detroit
• $3 million from Detroit Investment Fund
• $4.1 million Michigan Carpenters Pension Fund (advised by AA Capital partners in Chicago)
• $1 million from local investors