This city-within-a-city was actually commissioned by Henry Ford II as the world's largest private development at the time. As you can see from the promotional video to the left, the John Portman-designed complex began construction in 1971 and it was completed, more-or-less, in 1977. The centerpiece was a hotel that, at the time, was the tallest hotel in the world.

The assumption was the $500 million project would rejuvenate the downtown area and bring businesses back to the city. In that regard the Renaissance Center failed (it took a Super Bowl and a Major League All Star Game to actually provide the impetus for downtown rejuvenation) mostly because competition from suburban office complexes, but also because of failings in the original design.

The city-in-a-city building was originally designed and built with huge concrete berms housing the heating and air conditioning systems along the front of the complex, creating both a real, visual barricade from the city — but also a psychological barrier, destroying any ability for the building to connect with the city it was meant to revitalize. Additionally, there was poor access to the river and the basic design of the building is hideous maze of confusion. But that 72-story center tower sure does make for some spectacular views. In 1996 General Motors purchased the building and ordered a $500 million renovation which addressed the previous issues, adding beautiful river access, removing the terrible concrete berms and adding a handsome glass and steel foyer where they showcase their newest models.

Originally, the top two floors of the RenCen — the 71st and 72nd — housed North America's highest rotating restaurant, The Summit, but after a decade of closure, a series of renovations after GM took over ownership of the building seven years ago removed the spinning apparatus and transformed it into Coach Insignia. It's a short elevator ride up to the top but the views are pretty amazing. To the south (yes, the south) you get a clear view of Windsor, Canada, and when you look out upon Detroit, the metropolitan area seems to shrink far smaller than it's 3,913 square miles. Being at the top of the city lets you actually see the original French system of roads radiating from the hub at Woodward and Jefferson, not more than two blocks away. Peering around the giant blue GM badge plastered on the front gives you a sense of scale on just how deeply embedded this company is with the local economy. It looks down upon Detroit from a perch on high, even though lately, it has been made low.

After pondering all of this, we rediscover the mystery of the $8 Jack and Coke.

Top Photo Credit: eschipul / Flickr

Nestled conveniently within the GM Renaissance Center, the Volt Bar and Grill acts as the hotel bar for the Marriott, which resides in one of the big glass tubes which make up the complex. The watering hole is only a few steps away from General Motors world headquarters, and while the bar isn't paid to run with the name, it's basically a convenient branding opportunity with free-bee auto show sign thrown in.

Free-to-use HP Touchsmart computers make checking up on the latest hype surrounding the Volt easy and if you crack open the menu you'll find "Volt Nachos." Order now and expect to get your dish to come in two years with a 50% higher price tag than expected.

It's clear this nicely installed display at the base of the central tower of the RenCen borrows from two sources: the perennially obnoxious Lexus "December to Remember" ad campaign with it's bows and yuppies, and the incessantly played American Express advertisement where some random dude wins a pair of Solsti and gives one to his fainting wife for Christmas.

Somewhere in the dream the two were mixed together and a giant spidery bow that seems to be pooping out the Solstice was added. This whole thing would've worked a lot better if it wasn't parked next to considerably cooler cars like the Riviera and Impala. Something tells us even though they're pushing a Solstice at GM employees and fancy restaurant goers, the display won't be doing a lot of convincing in this, the December of our despair.

Options now include seeking other methods of funding or actually selling off the RenCen though if a sale were to take place, GM would retain the headquarters on lease. Considering GM bought the whole place in May for $626 million and now is considering refinancing, this reminds us of our own investments these days: Buy high, sell low and the like. [DetNews]

According to the Detroit News, the city pension and Detroit Police and Fire Fund have over $8 billion in assets between them, and have been active in financing several key downtown development projects. GM wants to borrow $500 at what we would presume are very favorable interest rates to finance the Renaissance Center complex. Do they have to refi or sell? That's the unknown here: It could be that GM is simply using the "we'll sell the RenCen" threat to put political pressure on the pension funds to green-light the refi deal. Or it could be GM thinks the interest rates they'll see from the Detroit Police and Fire Fund will be better than whatever horrifyingly poor rate they're able to get from the capital markets right now.

What happens if the pension funds don't blink? GM says it would try to sell the center but lease its office space, so tenants and GM employees would likely see little change in day-to-day business. GM would get a chunk of cash to fund its operations, then make monthly rent payments to the new owners. And who would the new owners be? Who knows, but with the dollar where it is, we'll bet our Volt futures that they won't be American. [Detroit News]