Detroit Red Wings

Detroit Red Wings: New Arena Plans Unveiled

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Detroit Red WingsThe Detroit Red Wings may have a new home as early as 2017 is all goes according to the team’s plans. The plan for a new arena is part of a plan to revitalize downtown Detroit. A subsidiary of the team’s owner Mike Ilitch’s Ilitch Holdings, Olympia Development of Michigan, reveals plans for a sports and entertainment complex that will create five new mixed-use neighborhoods in downtown. The centerpiece of the complex would be the new Red Wings arena.

Ilitch said of the announcement, “It’s always been my dream to see a vibrant and energized downtown Detroit. I want people to look at Detroit’s new sports and entertainment district and see what I see: the potential for something very special. I couldn’t be more excited and proud to bring this vision to life.”

The plans for this distract are ambitious and could cost $650 million in total, with $200 million being made my Ilitch Holdings and the rest to be made of public funds. The use of public funds has created some controversy.

The Michigan Strategic Fund board approved last July up to $450 million in state issued bonds to finance the project. While no money will be out of Detroit’s public fund, there is uneasiness that tax payers are footing this bill considering the dire economic straits that Detroit has been in,

The new arena will seat 20,000 when completed. The lower seating bowl will be between 32 and 34 feet below street level, which means the building will not tower over everything else surrounding it.

The Olympia and Red Wings team offices will be directly connected to the stadium, along with retail stores, parking garages, restaurants, and apartments. Concessions will be available in a glass covered area surrounding the venue, and there are big plans for restaurants to push local chefs.

Olympia says that the project will generate a minimum of $1.8 billion with 8,300 temporary construction jobs being created and 1,100 permanent jobs when the project is complete.

With the state of the city and state being insolvent and unable to pay their bills, everyone involved is hoping that things work out as planned to provide the city with much needed income.

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