Tuesday, Olympia Development a holding of Mike Ilitch proposed a new $650 million dollar entertainment district that would include a “new, state of the art, multi-purpose events center.” (or in other words an arena) according to the Detroit Free Press.
“We have a tremendous opportunity through a large-scale project to make a positive impact on our community,” said Christopher Ilitch, president and CEO of Ilitch Holdings, Inc. “A project of this magnitude requires continued due diligence and a strategic partnership with the public sector. Working together we can ensure this opportunity connects Detroit’s existing set of initiatives and assets strengthening the downtown core and enhancing the image of our city, state and region.”
Eric Larson, a non-executive president of Olympia Development stated that the project would end up creating 1,000 annually as well as an annual economic impact of $210 million dollars.
“The building of an events center district will create over 5,500 jobs fo...