Renaissance Center redevelopment project expected to be completed in 2038, documents show
A timeline for the Renaissance Center redevelopment in Detroit shows it could take more than a decade to complete the project, according to documents obtained by CBS News Detroit on Thursday.
Documents from the Detroit Economic Growth Corporation indicate that the project is expected to be completed in 2038. This comes after General Motors and Bedrock proposed a $2.2 billion redevelopment plan. The redevelopment includes nearly 1,000 residential units, hotel rooms, office and retail space, plus development of the marina. Additionally, officials project 2,700 full-time jobs and 8,000 construction jobs.
The Detroit Economic Growth Corporation said it expects the project to be stabilized in 2036, according to documents, meaning people can move into residences and office space while the rest of the project wraps up.
CBS News Detroit reached out to the DEGC to learn more about the timeline, but no one was available on Thursday.
Documents show that the department is seeking millions of dollars in incentives, including a $300 million Transformational Brownfield Program Package — money for demolition, site improvements, and building restoration. Additionally, the project's managers say it won't be possible without taxpayer revenue.
Demolition of the existing structures is expected to begin next year.
Earlier this month, Detroit residents selected two people to join the Neighborhood Advisory Committee, which will scrutinize the plans. The committee will also consist of three members of the city council and four members selected by the Planning and Development Department.
That committee will bring resident concerns to the developers and negotiate community benefits.
