City Council approved the $231 million tax incentive for the project today...

Detroit Council approves $231.7M tax incentive for Henry Ford Health, Pistons development


The Detroit City Council approved Tuesday a community benefits package for the planned $3 billion Henry Ford Health, Detroit Pistons, Michigan State University development in the city’s New Center neighborhood.

The incentives package is expected to give the developers $231.7 million in tax revenue reimbursement over the next 35 years.

The incentives will go toward several parts of the development, now called the Future of Health development, that include the planned HFH, MSU Research Center, the residential and commercial projects on the grounds of the current HFH headquarters in New Center as well as a six-story parking garage on the grounds. The total brownfield development is projected at $773 million.

HFH has not, at least yet, sought public tax incentives for its planned $2.5 billion hospital tower across West Grand Boulevard from its legacy hospital in the city. “Long-standing Michigan community stewards Henry Ford Health, Tom Gores and the Detroit Pistons, and Michigan State University have brought the Future of Health development forward as part of a historic partnership to turn Detroit’s New Center neighborhood into a vibrant, walkable community delivering the future of healthcare with an expanded state-of-the-art hospital and cutting-edge medical research combined with mixed-income residential, commercial, retail and recreational components,” the developers said in a joint statement emailed to Crain’s. “Today’s approvals lay the groundwork to execute the reimagination of our shared campus, creating meaningful economic opportunity and redefining what health and well-being means for the city of Detroit.”

The city council approved the package in a 6-3 vote with members Mary Waters, Angela Whitfield-Calloway and Gabriela Santiago-Ramirez voting against the package.
https://www.crainsdetroit.com/health...ion-incentives