Bedrock and General Motors (GM) announced on Monday a conceptual plan to redevelop the Renaissance Center (RenCen) and 27 acres along the Detroit riverfront by tearing down the two towers closest to the Detroit River and creating a new pedestrian promenade connecting the heart of the city to the riverfront.
The plan would create a 27-acre entertainment district designed to be a catalyst for development along the Detroit riverfront. According to Crain’s Detroit Business, the $1.6 billion project would need to include $250 million or more in public funding, much of that coming from the state. Developer Dan Gilbert is committed to funding $1 billion of the plan and GM $250 million.
Over the coming weeks, the proposed redevelopment plan will be presented to local and state leaders to determine if, based on public support and legislative funding approval, it is possible to move forward with the redevelopment. However, the plan was not met with exactly open arms by House Minority Leader Matt Hall (R-Richland Township) during his afternoon press conference on roads.
His entire press conference centered around how lawmakers need to put taxpayer money into public infrastructure and not help out corporations that have plenty of their own money for their own projects.
“GM is way up there, billions of dollars of profit, but they want $250 million from us to tear down the Renaissance Center as they’ve left Detroit and just laid out 1,000 people in Warren. Does GM need it more or does your local county need it more?” Hall said.
MIRS reported in June that General Motors and Bedrock were working with the state in securing money for some type of re-use project involving the RenCen. However, support for a package of bills that may have paved the way for something transformational for downtown Detroit didn’t happen.
The new vision released Monday is that the site becomes an entertainment district with a “vibrant waterfront,” drawing international visitors and featuring restaurants, hospitality, residential and market space—complementing Detroit’s award-winning Riverwalk, which draws more than 3.5 million annual visitors to the city.
“This iconic landmark’s future is important to Detroit and Michigan, and our shared vision with General Motors ensures that its redevelopment aligns with Detroit’s economic advancement,” said Bedrock CEO Kofi Bonner.
Earlier this year, GM and Bedrock, with the city of Detroit and Wayne County, established a partnership to study redevelopment opportunities for the Renaissance Center site. A team of urban planners, architects and engineers analyzed several possibilities to determine the best possible outcome.
First opened in 1976, the Renaissance Center is Michigan’s most iconic and recognizable building. When GM purchased the building in 1996, it was a catalyst for the revitalization of downtown Detroit and development of the Riverwalk. To date, GM has invested more than $1 billion in improvements to the RenCen site. However, it must be reinvented to be viable in the future, according to Bedrock and General Motors.
Article courtesy MIRS News for SBAM’s Lansing Watchdog newsletter
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