Dan Gilbert's real estate firm is looking to scale back its long-delayed Monroe Blocks development in downtown Detroit with less office space and fewer apartments, but with an added concert venue and possibly a grocery store. The original $800 million-plus development, to be built on surface parking lots at the corner of Monroe Street and Campus Martius, had a ceremonial groundbreaking in December 2018 and was to finish in 2022, but construction never began. Instead, Bedrock has used the 3. 6-acre site for its "Monroe Street Midway" with public roller skating, outdoor movies and games. Jared Fleisher, Bedrock's vice president of public affairs, on Wednesday told members of Detroit's Downtown Development Authority, they are proposing a new design for the project that better reflects current market conditions — particularly expectations for future office space demand. The original Monroe Blocks development called for 814,000 square feet of office space, 482 apartments and nearly 170,000 square feet of retail. The revised project, now rebranded as The Development at Cadillac Square, would have 400,000 square feet of office space, 250 to 280 apartments and about 90,000 square feet of retail. What is also new is the façade of the National Theatre Building on the site, which dates to 1911 , would be saved and incorporated into a new 2,000-seat concert venue. "It will be a theater not only of national renown, but truly something that we believe will attract folks here, artists here, on an international basis," Fleisher said. In addition, a 30,000-square-foot "market hall" would be built, along with a possible grocery store and 1,500 to 1,800 parking spots. Bedrock on Wednesday presented the revised plan to the Downtown Development Authority, which had given the developer until Friday to submit one. The project is one of four downtown Bedrock developments approved in 2018 for a state-level "Transformational Brownfield" incentive, worth up to $618 million. More: 3 new office buildings would be unique to Detroit, have more amenities, developers say More: Bringing transformation to Detroit is not so simple, even for Dan Gilbert The revised plan has three phases: Phase 1: The market hall and National Theatre concert venue, with construction beginning in September 2024 with a 36-month timeline. Phase 2: Residential and retail, including the possible grocery, to begin in October 2026 with a 38-month construction timeline. Phase 3: An office tower and more retail, to begin in January 2028 with a 36-month construction timeline. During his presentation on the design changes, Fleisher noted how there is a lot of new office space on the horizon for downtown Detroit. The Ilitch organization and developer Stephen Ross recently proposed a total 1. 2 million square feet of office as part of their 10-building District Detroit project. And Bedrock's Hudson's site development along Woodward, expected to open in late 2024, would add another 400,000 square feet of office space. “So we have to be very cognizant as an ecosystem to not oversupply the market," Fleisher said. "We need to make sure that what we’re doing is complementary to other things going on in the market. And that’s why you see office being the third phase. ” Fleisher said that even though the revised plan has fewer apartments, Bedrock is considering turning a nearby empty 40-story office tower into housing. The firm purchased that building , known as Cadillac Tower, in late 2021. "We are early in the conceptualization of Cadillac Tower," he said. "It’s obviously right there and it’s screaming out to be residential. So we think at the end of the day, the physical geography would see the same amount of residential units. " DDA members gave unanimous approval Wednesday to the revised design. However, it is still subject to approval by the Detroit Brownfield Redevelopment Authority, Detroit City Council and the Michigan Strategic Fund because it involves making significant changes to the original Transformational Brownfield plan. Under Bedrock's newly revised agreement with the DDA, if Phase 2 of the project doesn't make the October 2026 commencement deadline, an outside firm is to conduct a market analysis to determine whether the failure was due to unfavorable market conditions in Detroit. If so, then the development plan could be revised yet again. But if not, the DDA could then pursue "remedies" for Bedrock's non-performance. Hudson's site still on pace As for the Hudson's site project, Fleisher said the two buildings at 1208 Woodward are still on pace for "substantial completion" by late 2024. Marketing efforts for the luxury condos in the 49-story skyscraper could ramp up soon, he said, and Bedrock remains optimistic about landing a great tenant for the 12-story midrise building. Contact JC Reindl: 313-378-5460 or jcreindl@freepress. com . Follow him on Twitter @ jcreindl . .