DETROIT – The Downtown Development Authority (DDA) has pledged $75 million to support Bedrock and General Motors’ plan to revitalize Detroit’s Renaissance Center and riverfront.
This funding is a key part of the local and state backing needed to redevelop the Renaissance Center complex and turn the surrounding riverfront into a premier mixed-use waterfront district, according to a release from Bedrock.
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The DDA’s contribution, which will be provided in reimbursements between 2027 and 2033, will mainly fund public infrastructure.
This includes a new pedestrian promenade from Jefferson Avenue to the riverfront, new public plazas, and new pedestrian and vehicle access to the Renaissance Center and riverfront.
The funds will also help demolish the “confusing ‘podium’ base of the complex,” undoing the previous design that made the Renaissance Center a “fortress-like ‘city within a city,’” according to the release.
In addition to the $75 million commitment from the DDA, the redevelopment project is also supported by a $1 billion investment from Dan Gilbert and Bedrock and $250 million from General Motors.
A request for financing through the Transformational Brownfield Program has also been submitted.
“Bedrock and GM have proposed a once-in-a-lifetime opportunity to remove the barrier, seamlessly connect the heart of our city to the river, and further expand public access, amenities, as well as preserve an iconic aspect of our skyline,” said Eric Lawson, CEO of the Downtown Detroit Partnership. “Few organizations would have the vision, capacity, and commitment to take on such a transformative project. The Downtown Detroit Partnership strongly supports and applauds this bold vision, that honors our city’s history while advancing its future and reflects the aspirations of our community for generations to come.”
The project plans call for the removal of two of the four office towers and replacing them with a signature park.
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The existing hotel will be renovated, and a new observation deck will be added to enhance the visitor experience, according to the release.
Excess and obsolete space within the complex will be converted into new apartments, with plans to include affordable housing units.
The goal is to transform the area into a thriving waterfront district, similar to Chicago’s Navy Pier.