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

    18 Best Date Night Ideas in Detroit

    Read Full Post
    An aerial view of a suburban area in Detroit

    Identifying Promising Detroit Neighborhoods for Wealth Building

    Read Full Post
    A basic lease agreement must be detailed to protect rental properties and owners

    What to Include In a Basic Lease Agreement

    Read Full Post
    Aerial view of downtown Detroit, Michigan

    Why Detroit is an Underrated Goldmine for Real Estate Investors

    Read Full Post

    Subscribe To
    Receive The Latest News

    Similar Posts

    By mousa  |  Jun 22 2015

    It's Time To Prepare Your Vacation Homes

    Summer is basically here, whether the calendar says so or not. When warmer weather hits across Metro...

    By mousa  |  Apr 23 2015

    Determining If Your Market Will Remain Profitable

    Often times, you’ll hear us talk about the term ‘yield’ as a way of determining how much of your inv...

    By mousa  |  May 25 2015

    How To Write Rental Ads That Will Keep People Knocking At Your Door

    There is a fine balance between both the logical and emotional sides of our brain when are looking a...