DETROIT (WWJ) -- A proposed new riverfront development plan could drastically change the Detroit skyline.
Real estate firm Bedrock Detroit is planning to tear down two of the five original towers of the iconic Renaissance Center, located on Jefferson Avenue in Downtown Detroit.
General Motors announced earlier this year that it would be moving its headquarters to the new Hudson's complex — opening up the RenCen for redevelopment and leading to a lot of talk about how many, if any, towers would remain standing.
In a news release Monday, Bedrock and GM announced a "conceptual plan" to redevelop the Renaissance Center and 27 acres along the riverfront.
Bedrock said the plan "preserves the essence of Detroit’s skyline," while it also “right sizes” the RenCen’s footprint, and connects the site to the heart of downtown.
According to the release, the surrounding entertainment district, under this plan, "would become a vibrant waterfront destination, drawing international visitors and featuring restaurants, hospitality, residential and market space—complementing Detroit’s award-winning Riverwalk, which draws more than 3.5 million annual visitors to the city."
Crain's Detroit reports the plan calls for the two towers closest to the Detroit River being imploded -- leaving the three others for new residential space, upgraded office space, and the Marriott hotel.
Crain's said this project will cost about $1.6 billion, most of which will come from billionaire developer Dan Gilbert and GM — but they would ask for some public money.
First opened in 1976, the Renaissance Center is Michigan’s most iconic and recognizable building. When GM purchased the building in 1996, it was a catalyst for the revitalization of downtown Detroit and development of the Riverwalk. To date, GM has invested more than $1 billion in improvements to the RenCen site, however, it must be reinvented to be viable into the future.
Kofi Bonner, CEO of Bedrock, emphasized the Renaissance Center’s significance, saying: “This iconic landmark’s future is important to Detroit and Michigan, and our shared vision with General Motors ensures that its redevelopment aligns with Detroit’s economic advancement."
Detroit Mayor Mike Duggan, along with City Council President Mary Sheffield, Detroit Regional Chamber CEO Sandy Baruah and others in city leadership released statements supporting the plan.
“We’ve said since the very beginning of this process that we were going to make a realistic decision about preserving as much of the Renaissance Center as possible. Dan Gilbert’s vision gives us a path forward to preserve and reuse three of the towers and, at the same time, creates a beautiful expansion of public space on the Detroit riverfront," Duggan said. "We will need a public-private partnership to get this done and avoid the decades of inaction that accompanied so many other Detroit landmarks, like Hudson’s, Michigan Central Station, AMC Headquarters, and the Packard Plant. I am grateful for Dan Gilbert’s leadership in trying to prevent that fate for the Renaissance Center.”
Claude Molianri, President and CEO of Visit Detroit, said the Visit Detroit organization, which is charged with bringing conventions and visitors to the Detroit region, "could not be more supportive" of this plan.
"It is a trifecta for our visitor economy: delivering hundreds of high-
quality hotel rooms, creating world-class riverfront public space, and building a new entertainment district on the waterfront," Molianri said. "We applaud Dan Gilbert and General Motors for this incredible, and incredibly important, vision.”
While questions remain about funding, Bedrock said they hope to start on the project within the next two years.