Bedrock Detroit Giving Rent Forgiveness
CBS Detroit - In the wake of COVID-19, Bedrock Detroit is waiving all rent, expenses, and parking fees for restaurants and retail tenants who "qualify as small businesses".
This covers the months of April, May, and June so the businesses can use their resources to pay payroll and other bills. It's just one of the ways Detroiters are stepping up to help one another, and trying to protect the vibrant downtown business scene that took so long to build.
In a press release from Bedrock today, CEO Matt Cullen said, "It is going to take the entire community to mitigate the effects of this pandemic on the region, and we are happy to do our part to help our portfolio's most vulnerable businesses weather the storm. We are staying in close contact with each of our tenants and stakeholders everyday to understand their needs and concerns, and how we can help."
While many businesses have been forced to close their doors due to Governor Whitmer's shelter in place order made today, some businesses in downtown Detroit are open. Adopting their business model to serve their customers through these trying times. Such as curbside pickup, delivery services, and online services.
Bedrock Detroit is a real estate company started by Dan Gilbert. Their portfolio consists of fo 210 office tenants, 125 retailers, and restaurants. With more than $5.6 billion dollars of assets in Detroit and Cleveland.
© 2020 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Information from Bedrockdetroit.com contributed to this report.
