Basco was started in 2001 as an investment and development company by Roger Basmajian. The goal was to invest and redevelop older neighborhoods. Our conviction was and is that walkable communities based on traditional urban planning are the communities of the future. This thinking is ingrained in our practice and reflect in our projects, which tend to embrace the urban experience. Furthermore, we believe these older neighborhoods have more diverse and interesting architecture, and that is why our focus is to often redevelop underutilized buildings with new and creative uses, instead of tearing them down.
In the earlier years Ferndale and Royal Oak were the communities we focused on. Basco was instrumental in changing the landscape of Ferndale, which is reflected today in the hot spot that is Downtown Ferndale. Basco also redeveloped many properties on Main Street in Royal Oak, most notably the extensive rehab of the Royal Oak Savings Bank which had been vacant for years without a roof. Now this historic building is an unmistakable gem in Downtown Royal Oak.
Since 2012, Basco has been making a significant and focused investment in and around Downtown Detroit. We are currently in different stages of developing, marketing and managing multiple exciting properties totaling 700,000 square feet.
Basco’s success is due to a combination of multiple factors that have been cultivated over the years. Such as expertise in understanding trends, culture, and real estate markets; giving us an edge on buying right. Years of lessons learned, which results in a team that knows how to bring projects on budget and on time. Years of experience in historic restoration. A network of lenders. Significant in-house liquidity. Relationships with the best architecture and construction management firms. Finally, managing our own real estate, which gives us a better understanding of tenant needs and hence result in better retention of tenants.
“Ultimately, this is a balance between a labor of love and business savvy, without both
which, we would not be successful”