Spending on the new Little Caesar’s Arena, future home to the Detroit Pistons, and the surrounding 50-block District Detroit is nearing $1 billion, with more than 90% of those funds going to Michigan-based businesses.
Total spending is expected to top $1.2 billion after the completion of the new $150-million Little Caesar’s Pizza headquarters, next to the Fox Theatre, and construction of six residential projects that will add 686 units.
This follows billions in investments from Quicken Loans CEO Dan Gilbert, JP Morgan, and others, who have helped turn downtown Detroit into one of the hottest destinations for millennials, start-up entrepreneurs and others in recent years.
Peter Corrado
AuthorRelated Posts
Single Family or Multifamily Real Estate Investing: What’s right for you?
For those considering, and those already deeply involved in real estate investing, the question of which is a better option;...
1031 Exchange and What it Means For Real Estate Investing
What is Section 1031? Whenever you have a gain on the sale of a real estate investment property, you generally have to pay tax...