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.

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 is Local 4’s utility infielder. In addition to anchoring the morning newscast, he often reports on a variety of stories from the tragic, like the shootings at Michigan State, to the off-beat, like great gas station food.

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