The Detroit City Council has approved the transfer of land to the Downtown Development Authority for the development of a $650 million proposed downtown entertainment district that will include a new hockey arena for the Detroit Red Wings.
“We would like to thank the city council for their support,” says Christopher Ilitch, president and CEO of Ilitch Holdings, which owns the Red Wings along with the Detroit Tigers and Little Caesar Pizza. “This project, which now comes closer to realization, will mean jobs, growth, and a greater economic impact in our community.”
The project is expected to create approximately 8,300 jobs and spur economic development. The construction aspect alone is anticipated to create approximately 5,500 jobs, with more than half of those jobs being filled by Detroit residents and more than $100 million being paid to Detroit-resident workers.
Once opened, likely for the 2017 hockey season, there will be a projected 67 percent increase in the number of jobs at the new events center than currently exists at the Joe Louis Arena, where the Red Wings currently play. It is estimated that the project will have a $$1.8 billion economic impact on Detroit, the region, and state.
“We look forward to continuing our work with our public and private partners in creating an exciting and vibrant district that will link Midtown with downtown,” Ilitch says.