Developer Sterling Group submits plans for Joe Louis Arena

Developer Sterling Group submits plans for Joe Louis Arena
Developer Sterling Group submits plans for Joe Louis Arena

DETROIT – Joe Louis Arena is almost gone, leaving fans with nothing but memories.

Now that the honeymoon is over on demolition, we're learning who will redevelop these hallowed 5 acres along the riverfront.

According to the mayor's office, local developer Sterling Group is buying the property for about $14 million. Sterling Group is also close to a development deal with the city that would immediately save the city $6.7 million in costs and include an up-front payment of $2 million, and $600,000 a year for 20 years.

Video shows Joe Louis Arena demo on Sept. 10, 2019:

The iconic Detroit arena is being demolished.
The iconic Detroit arena is being demolished.

Crains, which first reported the deal with Sterling Group, says the initial indications to build "a high-density mixed-use development."

The current owner of the property is one of the city's creditors that lost $1 billion dollars in the bankruptcy and was given the rights to the land in trade. It sold to Sterling and Sterling enters into a redevelopment deal with the city.

Watch the video above for the full report.


About the Authors:

Jason anchors Local 4's 5:30 p.m. newscast. He joined WDIV in January 2015 as a general assignment reporter and has a Journalism degree from Michigan State University.

Kayla is a Web Producer for ClickOnDetroit. Before she joined the team in 2018 she worked at WILX in Lansing as a digital producer.