On Thursday, officials gathered in Downtown Detroit to celebrate the groundbreaking of a long-awaited project. The University of Michigan Center for Innovation is officially under construction.
The $250 million development is a project from Stephen Ross, who donated $100 million toward it. The University of Michigan signed on earlier this year to lead it; another $50 million will come from UofM donors. Olympia Development donated the 4 acre property, formerly a parking lot.
$100 million was earmarked for it in last year's state budget. A groundbreaking needed to happen by the end of 2023 in order for the money to go toward the project.
The project was first announced in 2019 as a project between Stephen Ross's Related Companies and Bedrock, and was to be built at Gratiot and 375. Plans changed a couple years ago, and Related partnered with Olympia. The site is in the parking lots behind Fox Theater, bordered by Grand River, Cass, West Columbia, and Elizabeth. Additional buildings will be built at a later time.
The UMCI will have graduate programs, engagement with the community, and talent-based community development.
“When complete, it will be a world-class research, education and entrepreneurship center,” said UofM President Santa Ono. “One that educates and retains world-class talent. One that drives innovation and economic growth and job creation. And one that empowers the next generation of Detroiters.”
The UCMI is separate but intertwined with the proposed District Detroit development, that should have broken ground earlier this year. That project has 10 buildings - new and rehabbed - around the area of downtown and the Little Caesars Arena. Olympia and Related are leading that project as well.
