Surrounding Projects For Red Wings Arena Put On Hold

By mousa

In 2017, the newest addition to downtown Detroit's sports empire, the new Red Wings Arena, will open its' doors to the millions of fans that cannot wait to get a seat near the ice. As promised, there is expected to be a plethora of retail space, restaurants, townhomes, condos, and business offices, also surrounding the entire arena and neighboring streets. However, it looks like construction has stalled on these expansive projects.

Those following the downtown Detroit renovations near the arena don't believe that construction will even begin on these livable spaces and businesses, until the arena itself it open. Why is this the case? Experts believe that until people can see the reality of the Red Wings arena in full force, they won't believe that this area of Detroit will pick up with desire, hence investors are slow to move forward with putting down roots in this downtown location.

While the Olympia Development team isn't directly commenting on these allegations, their silence may be saying more than they think. Many are hopeful that some type of retail and apartment construction will happen soon, but know that if it doesn't, they may be looking at a much larger timeline for building.

What has been slated to be built downtown near the new Red Wings arena?

  • Little Caesars Global Resource Center - Between Columbia and Woodward, the newest and largest building for Little Caesars will be dead center in the city. The building is expected to be adjacent to the Fox Theater, and expand on the current Little Caesars building in Midtown. This new resource center is expected to bring in over 500 new jobs.
  • Apartments - Surrounding the Fox Theater and Comerica Park should be home to nearly 300 new apartments. Located in one large building, the apartments will be placed along Montcalm and Woodward. This current deal is still in negotiations, and could get in the way of some of the current Woodward construction.
  • Eddystone Hotel Restoration - This historic hotel will also be converted into apartment homes for downtown dwellers. Located on the corner of Sproat and Park, the Eddystone is slated as one of the last projects on Olympia's to-do list.

While the delay in construction doesn't mean that these projects won't see the light of day, it does bring worry to those who were looking forward to completed areas by 2017.

Next Post

    Latest Posts

    Road to Wealth with an arrow pointing ahead, building wealth through real estate investing concept

    How To Create Wealth Through Real Estate Investing in Detroit

    Read Full Post
    City view from condo balcony, types of Detroit investment properties concept.

    Best Detroit Investment Properties? Single Family, Condos, or Duplexes

    Read Full Post
    Law items on a table, concept of property management tips for landlord legal responsibilities

    Property Management Tips: 10 Legal Things Every Landlord Must Know

    Read Full Post
    Learn and icons sketched on white, real estate investing courses concept

    Our Insights Into Finding Your Perfect Real Estate Investing Courses

    Read Full Post

    Subscribe To
    Receive The Latest News

    Similar Posts

    By mousa  |  Sep 20 2014

    More Jobs For Detroit Through Roush Industries Inc.

    Over 270 jobs are coming to Metro Detroit, thanks to Roush Industries Inc., and Inzi Controls Detroi...

    By mousa  |  Apr 22 2015

    What You Need To Know Before Buying A $500 Detroit Home

    We know that a $500 starting auction price for the 65,000 Detroit homes that have been foreclosed on...

    By mousa  |  Aug 9 2014

    Making Detroit The Employer Of Choice

    Over 75,000 jobs in Michigan cannot be filled, in part due to talent, education, and shortages of pe...