Downtown Detroit could undergo a major transformation under a development plan unveiled today.
The organization that owns the Detroit Red Wings says it wants to transform the northern part of downtown Detroit into a sports/entertainment/retail and residential destination.
The plan covers an area from Ford Field, Comerica Park, MotorCity Casino, the Fox Theatre and the Detroit Opera House, and north along the Woodward Avenue corridor. The centerpiece of the development would be a new $450 million downtown hockey arena, which is slated to open in 2017.
The Ilitch family says it plans to spend $200 million to create hundreds of residential units near Comerica Park and the new arena.
The hope is that will spur other private investors to build residential and commercial development along Woodward Avenue.