DETROIT (WWJ) – After more than two hours of public comment, the Detroit City Council on Tuesday approved nearly $800 million in tax incentives for the District Detroit development.
The council voted on several measures Tuesday, paving the way for the $1.5 billion development to move forward.
Led by the Ilitch family’s Olympia Development and billionaire Steven Ross’ Related Companies, the development is said to bring residential, retail, office space and hotel rooms to the area surrounding Little Caesars Arena.
Most prominently, the council voted 8-1 in favor of the $615 million transformational brownfield tax incentives plan, with Council President Mary Sheffield being the only no vote.
The council unanimously voted in favor of the $167-million dollar community benefits agreement that will require the developers to build affordable housing, focus on workforce development, education and other benefits to the community.
Olympia and Related Cos. announced the plan for 10 buildings – six new, four renovated – in November, despite several buildings announced in 2017 still sitting unfinished. The developers say the project will create 12,000 short-term jobs and 6,000 permanent jobs for Detroit.
The District Detroit was the vision laid out by the Ilitch family a decade ago when the development of Little Caesars Arena was announced, though many Detroiters feel it has been undelivered.
This is a developing story. Stay tuned to WWJ Newsradio 950 for the latest coverage.
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