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Introduction
Penobscot Building

The building seen here and in the panorama was built between 1904 and 1906; it was named after the Penobscot Indian tribe and region of Maine, the boyhood home of one of the investors. An interesting feature in the Indian-themed detail of the building is the occasional appearance of a swastika, a symbol important to the Penobscots long before it was adopted by the Nazi party.

The building at left is the Penobscot Building for most modern Detroiters. It sits on the corner of Fort and Griswold, adjacent to the 1904 structure whose name it took . The buildings are managed and operated as one unit, providing offices for laywers, publishers, etc. The tower seen here was completed in 1928 and held the title of Detroit's tallest building from that date until the completion of the Renaissance Center in 1977. It is considered one of the most elegant examples of the art-deco style of the 1920's, with a signature of simple, rectangular setbacks gradually resolving into the tower at the peak. It too has some Indian-themed ornamentation, but the overall s tyle is far more minimalist than the original structure.

The 1928 structure was the pinnacle of the booming 1920's real estate market in downtown Detroit. The expansion of the auto industry and the accompanying financial and legal forces required to serve it drove demand for office space in the central city. The Great Depression would soon put on hold any expansion until after World War II, and, by that time, most developers (and office workers) preferred the fringes of the metropolitan Detroit area for new office developments.

Today, office space in the suburbs is double that available in the city, and the vacancy rates are much lower. See the graph below for details.