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The design for the 40-story Union Trust Building was completed in 1927 and construction concluded in 1929. The stock market crash of 1929 had devastating effects on the Union Trust Company, causing it to fail. It was reincorporated as The Union Guardian Trust Company.
Originally named the Union Guardian Building, this building was created for the Union Trust Co. when it required more space after a merger with the equally huge National Bank of Commerce.
It was in this era that a newly organized banking group – the Union Trust Company – was anxious to communicate their public image through their flagship headquarters and new offices. The Union Trust Company commissioned the architectural firm of Smith Hinchman and Grylls to design their headquarters, and they turned the task over to head ...
The Guardian Building is a landmark 43-story office skyscraper in the Financial District of downtown Detroit, Michigan. Built from 1928 to 1929, the building was originally called the Union Trust Building [3] and is a bold example of Art Deco architecture, including art moderne designs. [4]
Oct 29, 2013 · Completed in 1929, the Guardian Building, then known as the New Union Trust Building, cost $12 million to build. It rises 40 stories from the street to 485 feet. A distinctive feature of the building is the exterior ornament of tile cladding of triangles running in bands of green and white, orange and white, and black and gold.
Jan 4, 2024 · The Union Trust Company and Guardian Trust, on the other hand, closed in 1933, in part because they had so heavily financed the speculative real estate ventures of the Van Sweringen brothers, the influential Cleveland real estate investors who achieved phenomenal success in the 1920s through suburban development east of the city.
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In a period of about two and one-half years prior to February 11, 1933, about $250,000,000 was withdrawn from the First National Bank of Detroit, and large sums were also withdrawn from the Union Guardian Trust Company and the Guardian National Bank of Commerce.
