Fiscal 2023 DIF Account

on
1

Latest From Crane's On District Detroit

on


Link to post


"Five years ago, the Ilitch family unveiled its plans for 45 to 50 blocks of new development north of downtown anchored by Little Caesars Arena. But instead of a bustling retail, entertainment, residential and office district that was promised to be completed within three years, it remains largely barren, strewn with surface parking lots and empty buildings, much of which is owned by the Ilitch family through subsidiaries."



Our point here is not the stadium, which we believe will be built on time but over budget, but that we as taxpayers need to concentrate on the surrounding private development projects.

Comments

Common Sense said…
The developer of the adjacent development across from Polar Park has stated previously that he has no problem waiting until market conditions are right to start a project. If the economy starts to go south, I question if we will see all the components of his project get built. Also, I'm concerned about the retail portion of his project. I think it might be hard to attract retailers when the stadium is going to be closed half the year. Also, with the new hotel planned for Washington Square and a future one at the old Mt. Carmel property I question if the market can support two more at his project. The Citysquare apartments have been slow to rent despite being in the heart of downtown.
July 21, 2019 at 7:04 PM
Post a Comment