Earlier this year, Stephen Ross' Related Companies and Olympia Development released a vision of what they want the District Detroit to look like. This vision is centered around the Detroit Center for Innovation, which should start construction next year. Now, we know more about another large project in the plan.
A new $190 million hotel next to the Little Caesars Arena would rise 14 stories and include 290 rooms, plus up to 30,000 square feet of street-level retail and restaurant space. The hotel would take 36 months to build, with construction starting in 2024.
The plan was submitted to the Downtown Development Authority this week.
“A hotel on the doorstep of the second busiest arena in the nation will position Detroit to attract more of the world’s most watched entertainment events and invite visitors to extend their stay and experience more of this great City and growing neighborhood,” said Andrew Cantor, President of Related Michigan. “Related remains extremely optimistic about the future of The District Detroit and are working closely with our partners at Olympia Development and with the city to deliver to the kind of inclusive economic opportunities this community deserves.”
A release states that the site could be activated prior to construction, and that, "proposed development plans for two additional ancillary development sites will be addressed with the DDA next September."
Olympia has been criticized at length for not delivering on development promises in the past. Some feel that with Stephen Ross and his successful development track record, more development could make it past the announcement stage.