400 Monroe Associates, led by Ted and Maria Gatzaros, has been a key developer in the Detroit area for over 30 years. Ted began in the field of interior office construction in the 1960's. In 1979 he along with some partners, bucked the trend of the then depressed real estate market, and saved the Marquette Building (corner of Washington Boulevard and W. Congress in downtown Detroit) from demolition. Totally renovating the building, it became a classic of historical preservation. Many of the existing tenants have been there from its rebirth.
Along with their partners Ted and Maria opened Pegasus Taverna in Greektown's reenergized Trappers Alley. It was the largest Greek restaurant in the area, seating over 300. Shortly thereafter, 400 Monroe Associates was born acquiring the old Ferry Seed Building (at 400 Monroe in Detroit), and again totally renovated the building to include office, retail and eventually the famous Fishbone's Rhythm Kitchen Cafe. The renovated building was renamed the International Center Building. Detroit's esteemed International Banquet and Conference Center takes up the top floor of the building, another Gatzaros project.
Continuing along the theme of preserving historic buildings, 400 Monroe Associates acquired another landmark building, the Murphy-Telegraph Building, a block from the Marquette Building. The building originally housed Western Union in Detroit, and was also home to one of Detroit's most historic and elegant restaurants, the London Chop House.
During the same period of the late 1980's 400 Monroe Associates purchased and developed a large, gated residential community in St. Clair Shores called the Shore Club. It consists of over 300 apartment rental units, townhouses, and a large marina.
Considered by many as one of its crowning achievements, 400 Monroe Associates turned a warehouse (adjacent to the International Center Building) into Detroit's elegant Atheneum Suites Hotel. The all suites hotel also has a number of conference rooms connected to the International Banquet and Conference Center. Completion of the hotel and the parking structure created one of Detroit's most visited facilities for locals and travelers alike. The hotel, office, and retail complex boasts of a Guinness world record indoor waterfall over 10 stories in height.
Current holdings and affiliations:
- Marquette Building
- Murphy-Telegraph Building
- International Center Building
- International Banquet and Conference Center
- Shore Club (residential development, St. Clair Shores)
- Fishbone's in Southfield (Northwestern Highway)
- Fishbone's in St. Clair Shores (Jefferson)
- Fishbone's Rhythm Kitchen Cafe
- Atheneum Hotel and Conference Center