General Motors and real estate firm Bedrock announced on Monday, Nov. 25, a development plan that would permanently alter downtown Detroit. The proposal would demolish two buildings in Renaissance Center to transform the riverfront.
Renderings and newly released plans would reduce the number of office spaces and set the complex up for modernization. These iconic 39-story towers opened in 1976 and are Motor City’s most recognizable landmark. They later became GM’s headquarters in the late 90’s.
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The $1.6 billion price tag would demolish two of the towers to create a mixed-use space, complete with housing and offices. They would then add a pedestrian promenade that connects the riverfront to the heart of the city and opens up access.
The automaker owns the complex but soon will set up shop in the core of downtown, a move the company announced back in 2021.
Bedrock is investing $1 billion toward the proposal while partnering with GM and Wayne County. They plan to turn the vacant property into what they said will “preserve most of the skyline and reduce the center’s office footprint.”
“Additionally our collaborative approach makes certain that the reimagined Renaissance Center and the riverfront further augment and support the city’s continued growth, benefiting the community and region at large.”
Bedrock statement by CEO Kofi Bonner
GM is putting forward $250 million toward the plan while looking for another $250 million from the public sector. This proposal hinges on approval from state and local leaders, relying on public funding to push the plan forward.
However, receiving financial support from lawmakers may prove to be a challenge. Last year, Democrats maintained control over the Michigan Legislature, but Republicans gained control of the state House.
Republican lawmakers have pushed back against using state incentives to fund corporate plans.
In a news conference, incoming Republican House Speaker Matt Hall said paying for demolition and development should fall on GM, not taxpayers.
“We will need a public/private partnership to get this done and avoid the decades of inaction that accompanied so many Detroit Landmarks, like Hudson’s, Michigan Central, AMC Headquarters and the Packard Plant.”
Statement from Detroit Mayor Mike Duggan
Discussion around Michigan’s tallest skyscraper started in the wake of the pandemic that disrupted workplace models and sent many to do their jobs remotely.
51,400 people in Michigan work for GM despite 2024’s global layoffs by the company. These layoffs come as GM sees an increase in profits.
The 73-story central tower would remain in place, home to a Marriott Hotel. Instead, the top floors would become high-end family apartments, and the number of hotel rooms would decrease.
Demolition could start on the two office buildings within the next two years.
