Friday, October 7 2022

Real estate billionaire Stephen Ross and the Ilitch Organization have submitted a development plan for a new $190 million hotel to be located next to Little Caesars Arena.

The plan for a 14-story, 290-room hotel, which will also include up to 30,000 square feet of street-level retail, dining and beverage space, was submitted this week to the Detroit Downtown Development Authority. Construction would begin in 2024 and take three years.

“A hotel on the doorstep of the nation’s second-busiest arena 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. growth,” Andrew Cantor, president of Related Michigan, Ross’ real estate company, said in a statement.

“The hotel, food and beverage and other amenities on offer will create a wide variety of good jobs and attract people from around the area, state and beyond to the Detroit District,” said Keith Bradford, chairman of Olympia Development of Michigan and the District of Detroit. in the release.

Earlier this year at the Mackinac Policy Conference, Ross said it would be an Equinox hotel.

The first and so far only Equinox hotel opened in 2019 as part of Ross’ Hudson Yards development in New York City. Ross’ company also owns the high-end gym chain Equinox.

“The city needs many more hotel rooms to better compete with major events and conventions that will bring tens of thousands of additional visitors to the area and help create good jobs for Detroit residents,” said said Claude Molinari, president and CEO of Detroit Metro Convention and Visitors Bureau. , said in the press release. “With Olympia Development and Related Companies bringing this project to life, we can expect a first-class hotel with amenities and experiences that will attract travelers and businesses from around the world.”

Related Cos. Also set to kick off in 2023 is the $250 million Detroit Center for Innovation, or DCI, also a project with family-owned Ilitch. The center is expected to be built on property west of downtown Fox Theater.

The University of Michigan University Research Center was originally proposed in 2019 for the Wayne County Jail cleared project site off Gratiot, on the outskirts of downtown. Those plans changed after Related Cos. and Dan Gilbert called off their collaboration for unspecified reasons.

Contact Adrienne Roberts: [email protected]

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