JULY 20 • 2023 | 39

PHOTO BY NADIR ALI

tion at Milwaukee Junction 
“is the birthplace of the U.S. 
auto industry where, in the 
early 20th century, manufac-
turers sprang up around the 
Milwaukee and Grand Trunk 
railroad lines.
”

Interim MSU President 

Teresa K. Woodruff said MSU 
has been working “for decades 
with partners in Detroit to sup-
port economic development, 
advance the arts, transform 
schools, improve health and 
sustain the environment.

“This new investment signals 

our continued intent to be part 
of Detroit’s storied history and 
vibrancy,
” she said.

The historic Fisher Building’s 

future didn’t look bright eight 
years ago when a group led by 
The Platform and Cummings, 
and Redico LLC, bought the 
office structure and adjoining 
property out of foreclosure for 
$12 million. 

Though a great deal of 

development was taking place 
Downtown led by Dan Gilbert 
and the Quicken organization, 
years of declining occupan-
cy, the exit of GM from New 
Center and the need for capital 
improvements had forced the 
Farbman Group real estate 

organization to return the 
property to its lenders.

According to an account 

in the Detroit Free Press, the 
Farbman Group had bought the 
building from TriZec Hahn in 
2001 for $31 million.

“The New Center area had 

gone through some tough 
times,
” said Cummings. “I 

thought in order for New 
Center to come back, the Fisher 
Building had to come back.
”

With New York-based HFZ 

Capital real estate group and 
Rheal Capital Management, 
The Platform spent roughly 
$30 million over the next eight 
years making improvements to 
the building’s antiquated heat-
ing and cooling systems, replac-
ing elevators, restoring artwork 
in the arcade, refurbishing a 
marble façade and lately adding 
brass entrance doors. 

Cummings said The Platform 

was able to double occupancy 
of the building from 2015, 
which today stands at between 
65% and 70%. In 2021 the 
building was put on sale, about 
the time HFZ Capital ran into 
legal and financial trouble at a 
number of its other projects.

Cummings credits Mark 

Davidoff, who serves as CEO 

of the family office of Max 
Fisher and a senior adviser to 
The Platform, for attracting the 
attention of MSU’s Zecher, who 
then spotted an opportunity 
for the university to deepen its 
commitment in Detroit.

In addition to MSU’s com-

mitment to New Center, the 
University of Michigan recently 
raised its stake in Detroit as 
well. In March, the university 
committed to a $250 million 
research and innovation center 
in partnership with real estate 
billionaire Stephen Ross. Ross 
is donating $100 million to the 
center. The new research and 
innovation center will become 
part of a $1.5 billion project 
in collaboration between Ross 
and the Ilitch family to devel-
op a 50-block area north of 
Downtown in the vicinity of 
Little Caesar’s Arena.

Serendipitously, MSU’s pur-

chase of the Fisher Building 
and Ross’ investments in 
Downtown share ancestral 
threads to another former 
owner of the building, the late 
philanthropist Max Fisher: 
Cummings is Fisher’s son-in-
law; Ross is Fisher’s nephew.

Max Fisher, arguably the 

Detroit Jewish community’s 
most generous benefactor, 
bought the Fisher Building in 

1962 for $10.3 million and sold 
it in 1974; he maintained his 
office on the 27th floor until his 
death in 2005 at the age of 96.

A few of Max Fisher’s visitors 

may have presumed that the 
building was named for him. In 
fact, an entirely unrelated fami-
ly, the seven Fisher brothers — 
of Fisher Body coachbuilding 
fame — spent $3 million to 
construct it. The money derived 
from the proceeds of the sale of 
Fishers’ company to GM. The 
brothers hired Albert Kahn 
to design the structure, which 
featured a golden roof and was 
named by the Architectural 
League the most beautiful com-
mercial building of 1928.

Originally, the Fishers envis-

aged three office towers; the 
Great Depression negated the 
plan. The Fisher was added 
to the National Register of 
Historic Places in 1989.

Cummings also occupied an 

office in The Fisher until 2005, 
near his father-in-law’s. “I think 
about Max a lot,
” he said. “I am 

mindful that if he could see 
what was happening, he would 
want me to do a really good job 
making sure” that the building’s 
next chapter will be as trans-
formative, positive and inspira-
tional as possible for MSU and 
the city. 

Peter 
Cummings 
in the Fisher 
Building

The Fisher 
brothers at the 
groundbreaking of 
the building

