Downtown Detroit Development Authority OKs hotel development near LCA
The plan for a 14-story, 290-room hotel next to Little Caesars Arena is from the development firms of the Ilitch family and Stephen Ross.
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The plan for a 14-story, 290-room hotel next to Little Caesars Arena is from the development firms of the Ilitch family and Stephen Ross.
The Ilitch family and billionaire developer Stephen Ross have submitted a development plan for a new $190.5 million hotel immediately south of Little Caesars Arena.
Plans for the 14-story, 290-room hotel were submitted to the Detroit Downtown Development Authority this week. Construction would start in 2024.
The deal, believed to be the largest new metro Detroit office lease of the pandemic era, will move workers to a new 340,000-square-foot office.
The home, which was the last holdout of the Ilitchs, burned to the ground. The property is highly sought after given its adjacency to Little Caesars Arena. The Ilitchs had tried several times to purchase the property, but the homeowners asked for as much as $5 million, which the billionaire Ilitch family deemed too expensive.