Quote:
Originally Posted by Tom Joad
If they are doing so well then they ought to be able to build their own goddamned new stadium with their own goddamn money.
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So I take it you didn't bother to read the article I posted, as evidenced by the above post. Typical
Let me help you a bit.
A 2013 deal between the Ilitches, through their Olympia Development of Michigan, and the city’s Downtown Development Authority to build the arena at the largely vacant and blighted area of Woodward at I-75 obligated the family to spend at least $200 million in ancillary development within five years of the venue’s opening.
But the Ilitches are accelerating that timeline, and upping the ante.
The Ilitches, the Little Caesars pizza chain founders who have owned the hockey team since 1982, told Crain’s last week that their construction timeline has been radically moved forward so the investment can have a maximum catalytic impact for the city.
“We think the impact on our community will be exponential if it’s all done at once,” said Chris Ilitch, president and CEO of Ilitch Holdings and son of Red Wings owners Mike and Marian Ilitch. “This project takes on a much bigger scale. There is nothing like this going on in our country.”
Ilitch said cost isn’t the first consideration as the planning has evolved for a project with a very large vision for the whole entertainment district.
“This is more than a development; this is our passion,” he said.