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$300m U-M research and education center to anchor 14-acre Detroit center for innovation
Transactions - OCTOBER 30, 2019

$300m U-M research and education center to anchor 14-acre Detroit center for innovation

by Released

Michigan Governor Gretchen Whitmer, Detroit Mayor Mike Duggan and Wayne County executive Warren Evans joined together with Stephen M. Ross, philanthropist and chairman of Related Cos., Matt Cullen, CEO of Bedrock, and University of Michigan (U-M) President Mark Schlissel to announce plans for a 14-acre Detroit Center for Innovation (DCI) in downtown Detroit.

“This announcement represents an incredible commitment to Detroit by Stephen Ross, Mark Schlissel and Dan Gilbert [co-founder of Quicken Loans and founder of Rock Ventures] that will allow us to develop, attract and retain world-class talent,” said Mayor Duggan. “Detroit has always been a leader in innovation and this new center will help ensure that continues to be the case into the future. It also sends a powerful message to our young people about the city we are trying to build together. Instead of turning this property into a place where Detroiters are taken to be incarcerated, we are going to build for them one of the finest learning centers anywhere, filled with hope and real opportunity.”

Anchoring the site will be a world-class $300 million, 190,000-square-foot research and education center operated by U-M, the nation’s leading public research institution. It is the first phase of a planned multi-building development at the east edge of downtown and will offer programs that focus on high-tech research, education and innovation. It is anticipated the new U-M facility will eventually serve up to 1,000 graduate and senior-level undergraduate students pursuing advanced degrees in a range of high-tech innovation disciplines, including mobility, artificial intelligence, data science, entrepreneurship, sustainability, cybersecurity, financial technology and more.

Development of the academic building will be made possible by a major gift from Ross, who envisioned the Detroit Center for Innovation and is a long-term benefactor of the University of Michigan and native of Detroit, and leadership gifts from Gilbert, and other public and private funders.

“I spent my childhood and many of my young adult years living and working in Detroit and have long wanted to find a way to have a real impact on my hometown,” said Ross. “The University of Michigan helped spark my entrepreneurial spirit and nurtured my curiosity for all aspects of innovation, leading me to not only become a founder, but an incubator and investor in a variety of technologies and businesses. The idea of the new Center reflects the shared commitment of Dan, myself, the city, the county, the state and the University of Michigan to create a transformative center for innovation that will help fuel the city’s next chapter of growth. The Center has the potential to not only attract new businesses to Detroit, but the school and its graduates will generate new ideas, new companies and new opportunities for the community, the city and the region.”

The initial phase of the DCI build-out also will include incubator and start up services for entrepreneurs, collaboration space for established companies, residential units, a hotel and conference center and event space. The new multi-building complex will be located at the site of the former Wayne County Jail project at Gratiot and St. Antoine and serve as a new gateway to Detroit’s burgeoning downtown, connecting the Central Business District and Greektown Entertainment Center to Lafayette Park and Eastern Market.

Mayor Duggan, County Executive Evans and other project partners will take the next 90-180 days to assess the feasibility of the overall project and conduct community engagement with surrounding neighborhoods. Construction for the Detroit Center for Innovation is slated to commence in 2021.

“The Detroit Center for Innovation combines vision, leadership and a deep commitment to this city and state and I am very appreciative of the efforts of all involved,” said Governor Gretchen Whitmer. “This is an exciting opportunity for students around the world and is an exclamation point on Michigan’s efforts to build, attract and retain the best workforce in America.”

 

 

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