Here are a few of the stories we've been reading over the past few weeks.
Bedrock seeks $60 million in additional tax breaks for Hudson's site
The price tag on the Hudson's site has risen to $1.4 billion (after initial estimates of $909 million), and Bedrock is looking for additional property tax breaks. The proposal went before the City Council's planning and economic development committee and could go before City Council as early as Tuesday.
"The project has thin operating margins where this development would only be possible with the help of this tax abatement," Nevan Shokar, associate director for special projects for the Detroit Economic Development Corporation told the committee. "Large-scale developments such as this don't make financial sense in the near term. And you have to look at the project holistically and with a long-term viewpoint, and this developer is committed to Detroit."
The site would have $6 million in property tax breaks over 10 years, starting on December 31, 2024. At the hearing, Bedrock said there would also be an announcement forthcoming on the long-stalled Monroe Blocks development. Detroit News
Equinox Hotel planned near LCA
A couple weeks ago, Related Companies, along with Olympia, presented their vision for what the District Detroit could look like. Anchored by the Detroit Center for Innovation, the area would include more office, retail, and residential. At the Mackinac Policy Conference last week, Stephen Ross said that the proposed hotel next to the LCA would be an Equinox Hotel, ideally for visiting sports teams. More details could come in the next few months. Crain's Detroit, dBusiness
The penthouse rises at the Exchange
Earlier this week, the penthouse rose to the top of the Exchange on the edge of Greektown. This unique build has it constructed from the top down; the roof went up last month. Four condos are located on the top level, and they're already built out. You can see LIFTbuild's technology in action here. Detroit News (paywalled)
Michigan Central helps out area small businesses
Construction continues at one of the more exciting developments in the city - Ford's revamping of Michigan Central Station. This week, Michigan Central announced a program to assist small businesses near the development. The program partners with Build Institute and ProsperUs to offer not only funds, but training, digital skills, and coaching. The region is bordered by MLK, Grand River, the Lodge, Fort Street, and Clark Street. Applications are now open. Michigan Central
The sad state of Detroit's pedestrian bridges
After a man fell through a pedestrian bridge over the Lodge in Corktown, Axios has learned that MDOT has spent nothing on Detroit's pedestrian bridges in four of the last five years. After the bridge incident in Corktown, MDOT has inspected some poorly-rated bridges, and will reassess its inspection procedures. Axios