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Project Profile: The District Detroit
After years of empty promises and planning (beginning in 2014), the Stephen Ross and Ilitch family-led development christened “The District Detroit” will soon begin formally constructing a series of luxury hotels, mixed-use apartments, and office buildings in north Downtown. With a price tag of about $1.5 billion, it has been billed as a dynamic catalyst in the rejuvenation of Detroit’s economy and physical landscape. However, as we have learned with previous big corporate developments of this kind, “all that glitters ain’t gold”.
Learn More:
- The total public investment requested is $797.75 Million. (1)
- Over the next 35 years, the revenue and Tax loss related to the District Detroit will be $226.8M For Schools and $5.7M for libraries. (1)
- In 2018, Ilitch Holdings total combined revenue was $3.8 billion and according to Forbes magazine, Ross has a net worth of $7.6 billion in 2020. (2),(3)
- Like Ilitch and Olympia in Detroit, Ross and Related are known as bad landlords and bad neighbors in markets across the US. (4), (5)
- Ilitch/Ross are attempting to claim $172M in benefits when they are only directly contributing $12 Million. (6)
- The developers offered a Quarter of a Million Dollar donation to the Detroit Public Library and the Neighborhood Advisory Council (NAC) leaders Chris Jackson and Wayne County Commissioner Jonathan Kinloch TOLD THEM THEY DIDN’T WANT IT. (7)
VIDEO:
- Library Donation Giveback https://youtu.be/W-MY2MwpsYw
- Detroit Brownfield Redevelopment Authority: Board Member and Ilitch/Ross Reps on Library Donation Giveback https://youtube.com/shorts/6w2WZzthl8o?feature=share
Even More:
Project Profile: The District Detroit
THE ISSUES
Detroit People’s Platform strives to protect, maintain & empower majority Black Detroit in the face of efforts to re-engineer the nation’s largest Black city. Learn more about our work for Good Governance, Economic Justice, Transit Justice, Housing Justice and The Commons in Detroit.
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