"LANSING -- Officials from Mike Ilitch's Olympia Development Company are today outlining to state lawmakers plans for a $650 milllion-dollar mixed use development in downtown, anchored by a "new, state of the art, multi-purpose events center."
Eric Larson, non-executive president of Olympia Development, told the Senate Government Operations Committee the public-private development is expected to annually produce more than 1,000 jobsand $210 million in economic impact.
"The building of an events center district will create over 5,500 jobs for the events center alone and nearly 8,300 jobs for the first phase of the overall events district," Larson said.
He pegged the overall economic impact of the project at $1.8 billion.
Larson did confirm it would include a new home for the Detroit Red Wings but said it would involve much more than that. There is no timetable for breaking ground on the development, he said."