Redevelopment is planned for the former Detroit police headquarters building.
Bedrock real estate and Pike Pointe Holdings are partners on the project. Plans for the building were not released Thursday. The Pike Pointe Holdings and Bedrock partnership hold title to the building.
Pike Pointe Holdings is a subsidiary of Syncora Guarantee Inc. which gained control of the building through Detroit's 2014 bankruptcy settlement with the city's creditors.
The 240,000-square-foot structure is in downtown Detroit's Greektown entertainment district. Work on it started in 1921 and the building opened the following year.
As the building aged it was plagued with falling plaster, lead-based paint, water leaks, vermin and other problems.
It has been vacant since 2013 when police operations were moved to a new headquarters on the other side of downtown.
