Billionaire Dan Gilbert and fellow investors have struck a deal with Mayor Mike Duggan’s administration to buy and redevelop a large swath of historic Brush Park near downtown.
At noon today, Mayor Mike Duggan plans announce the deal with the three key investors.
The principal investor is Gilbert’s Bedrock Real Estate Services, which owns nearly 70 downtown properties. The two partners are Sam Thomas and Marvin Beatty, chief community officer for Greektown Casino-Hotel, which Gilbert owns.
The deal includes about 45 vacant parcels and four abandoned, historic homes.
Details of the plan have not yet been disclosed, and the plan must be approved by Detroit City Council and the Detroit Historic District Commission.
News of the plan comes just three weeks after the mayor announced an ambitious $50 million plan by private investors to transform the adjacent Brewster Wheeler Recreation Center into a restaurant, bar, culinary arts studio and community space. Up to 150 housing units are to be built on the site of the now-demolished Brewster-Douglass housing projects.
Click here to see the city’s call for redevelopment ideas.
Check back for updates after today’s press conference.
Steve Neavling lives and works in Detroit as an investigative journalist. His stories have uncovered corruption, led to arrests and reforms and prompted FBI investigations.