03/28/2013 09:47 am ET

Detroit's Whitney Building Sees New Life, But Developers Worry About Others

Gov. Rick Snyder is to be in downtown Detroit this morning to tout the upcoming renovations of the historic but long-empty David Whitney Building, which will become the boutique Aloft Hotel, featuring rental apartments and ground-floor retail in its striking marble and glass atrium.

Yet even as Snyder and other economic officials celebrate the revival of the Grand Circus Park skyscraper, many developers wonder just how many other historic structures will see new life. That's because of the governor's decision to eliminate the tax credits that most developers relied on to restore historic buildings. The historic tax credit became history itself at the end of 2011.

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