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On June 21, the Detroit City Council postponed its scheduled vote on billionaire investor Dan Gilbert’s real estate company Bedrock’s request for an a
The Detroit City Council has again delayed a vote on whether the city should give another $60.3 million in tax breaks for Dan Gilbert's project on the site of the former J.L. Hudson's department store.
Detroit City Council pushes the vote once more to approve or deny a $60 million tax abatement for Dan Gilbert's Hudson project.
Gilbert's real estate firm, Bedrock, has said that the abatement is a critical component of its debt financing for its Hudson's site project.
Jared Fleisher, the top lobbyist for billionaire site developer Dan Gilbert, said Thursday morning that the hard construction costs are $991 million and total development costs, including soft costs like architecture, site planning and design fees, make up the remainder of the price tag.