Detroit's $2.2 Billion Renaissance Center Redevelopment Advances With Record $43.5 Million Community Benefits Deal
Eight of nine neighborhood council members backed the agreement, but City Council and other approvals remain ahead for the proposed riverfront redevelopment.
Detroit's proposed $2.2 billion Renaissance Center and east riverfront redevelopment moved forward Thursday as eight of nine Neighborhood Advisory Council members signed a letter supporting a $43.5 million community benefits agreement, MLive reported.
The agreement calls for $15 million for housing, $10 million for small businesses, $8 million for a community hub, $6 million for workforce development and education, and $4.5 million for parking. Officials described it as the largest community benefits agreement in Detroit's history.
Developers also announced a separate $90 million voluntary payment-in-lieu-of-taxes commitment over 30 years. That is distinct from the $43.5 million benefits agreement.
The redevelopment proposed by Bedrock and General Motors would demolish two Renaissance Center towers, renovate and repurpose the remaining towers, and add housing, restaurants, entertainment and public spaces along the riverfront. Plans include 934 mixed-income housing units and 18 acres of proposed civic space across a 46-acre site.
Thursday's signing was a step in the approval process, not final approval of the project. City Council must still approve the community benefits agreement, and the plan also needs other approvals, including state consideration of a proposed Transformational Brownfield incentive. Construction had been targeted for the second half of 2027, pending approvals.