A new hotel and about 150 residential units are part of $196M in "planned development that aims to be up and running" when the new Red Wings arena debuts in September '17, according to Louis Aguilar of the DETROIT NEWS. Olympia Development, the real estate arm of the Ilitch family, which owns the Red Wings, "released updated details and renderings of its upscale vision surrounding the future home of the Red Wings." More than 200,000 square feet of restaurant, retail and office space "will be built adjacent to the arena." The hotel "could have up [to] 350-400 rooms." Overall, four-story buildings surrounding the arena "help diminish the street profile of the massive arena, where center ice is 40 feet below street level." Officials said that Olympia soon will "select its hotel and real estate partners for the residential units." The projects "will be privately financed," and apartments "will be a mix of market-rate and affordable housing" (DETROIT NEWS, 2/1). In Michigan, Ian Thibodeau noted the arena will be a "part of the Woodward Square neighborhood, which is one of several new neighborhoods Olympia plans to rebrand around the arena." The building will add office space to "what have been surface parking lots for a number of years." Olympia in a release said the retail and restaurants in the building will have "a local and national flair." Olympia "now projects the total investment in The District Detroit -- what they're calling the entire arena and surrounding developments -- to hit" $1.2B by '20 (MLIVE.com, 1/31). In Detroit, Gallagher & Reindl reported seven hotel developers "have indicated an interest in building" the hotel. Officials with Olympia said that at least 10 "qualified residential developers are expected to bid on building housing" (DETROIT FREE PRESS, 1/31).
