DETROIT, Mich. — The $2.2 billion plan from Bedrock and General Motors to remake the Renaissance Center and the riverfront around it is now in front of the Detroit City Council, and if it clears every step it would become only the fourth Transformational Brownfield deal in the city.
The Detroit Brownfield Redevelopment Authority approved the plan on Oct. 14. A public hearing before the council’s Planning and Economic Development Standing Committee comes next, then a council vote and a final review by the Michigan Strategic Fund. Bedrock and GM want approval before the end of the year, worried that the next governor could change the process in January.
The program lets developers keep certain tax revenue for up to 30 years. For the RenCen, the request would leave local property taxes alone and instead capture up to $300 million in state taxes from 2032 through 2051. During July budget talks, state lawmakers lifted the overall program limit to $3.5 billion, up from $1.6 billion, after earlier projects nearly used it up.
None of the three earlier Detroit deals is fully done. The first, approved in 2017, delivered the restored Book Tower and Hudson’s Detroit, but its Cadillac Square segment is still years away. District Detroit, approved in March 2023, has one of its 10 projects under construction, and the Future of Health plan in New Center from 2024 is not expected to finish before the 2030s.
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