Photo: Illich Companies News Hub
DETROIT, March 30, 2023 ~ The Detroit City Council voted eight to one Tuesday to afford millions in tax incentives to Ilitch-owned Olympia Development of Michigan and New York real estate firm The Related Companies as part of a plan to complete the locality known as The District Detroit.
Beyond the existing facilities, including Little Caesars Arena and its associated parking structures, the plan calls for 10 new and rehabilitated buildings, offering nearly 700 apartments, 1.2 million square feet of office space, and over 350 hotel rooms, plus a variety of retail outlets and eco-friendly green spaces.
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March 29, 2023 ~ Mayor Mike Duggan talks to 760 WJR‘s Mark Hollis and Lloyd Jackson about the Detroit City Council vote that approved a $616 million dollar incentive for The District Detroit plan, and he says it will be transformational.
(CONTINUED) In a statement published Thursday, Olympia Development of Michigan and The Related Companies said, “We thank the Detroit City Council, Mayor Duggan, the Neighborhood Advisory Council, and all of the Detroiters who support the future of The District Detroit and the inclusive economic impact that this project will have on our city and state, including thousands of jobs and much needed affordable housing. We look forward to continuing our work with the Neighborhood Advisory Council, City of Detroit, and the State of Michigan.”
“I for one can no longer continue with business as usual,” said City Council President Mary Sheffield after her lone dissenting vote. “This model of developing our city has been the norm over the last 40 years and we’ve seen nothing but the proliferation of poverty, the loss of population, the obliteration of Black businesses, and the systematic exclusion of Detroiters with respect to ownership and equity.”
Observers speculate that Tuesday’s vote will open financing for the next wave of development, which is scheduled to begin this summer.
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