$52 Million In Construction Contracts For The New Detroit Arena Awarded To Detroit And Michigan Companies

Detroit-based Motor City Electric earns $16 million contract for electrical work for new arena

Detroit-based Ideal Contracting earns $11 million contract for foundation and steel work

MSL/Limbach JV awarded $24 million for equipment procurement and field services

Total Detroit-based and -headquartered business participation is 65 percent, Michigan business participation is 95 percent

21 Dec, 2015, 10:00 ET from Olympia Development of Michigan

DETROIT, Dec. 21, 2015 /PRNewswire/ -- At the recommendation of Olympia Development of Michigan, the Downtown Development Authority approved nearly $52 million in new contracts today for work on the new Detroit Events Center, raising the total dollars of contracts awarded for the massive catalyst development project to more than $257 million

Detroit-based or -headquartered businesses earned more than $27 million of the new contracts. With today's awards, total Detroit business participation in The District Detroit is at 65 percent, well above the aggressive 30 percent target set by Olympia Development. Michigan businesses have earned 95 percent of the value of all contracts awarded so far.

As part of the contracts awarded today, Detroit-based Motor City Electric earned a $16 million contract for electrical work for the new arena, and Detroit-based Ideal Contracting earned an $11 million contract for additional foundation and steel work. MSL/Limbach JV was awarded a $24 million contract for mechanical and plumbing work. MSL/Limbach JV also earned smaller contracts for $338,000 for pre-construction mechanical, electrical and plumbing services and $493,000 for mechanical and HVAC services.

"With more than $250 million awarded to date, The District Detroit project is far exceeding our target for Detroit business participation and providing real, multi-million dollar opportunities to Detroit companies and people, furthering our commitment to a Michigan Made, Detroit Built development," said Steve Marquardt, vice president of Olympia Development of Michigan.

About the Detroit Events Center

Home to the Detroit Red Wings, other sports and entertainment events, concerts, family shows and community functions, the Detroit Events Center will feature a dramatic arena bowl, proximity to the action and great sight lines. Rich with the tradition of the Original Six Detroit Red Wings and Detroit's incredible musical heritage, the new Detroit Arena will also feature state-of-the-art technology and fan amenities. The Detroit Events Center will open in September of 2017, and it's going to deliver amazing experiences.

About The District Detroit

The District Detroit will be made up of a dynamic mix of sports and entertainment venues, including six world-class theatres and three multi-use sports venues – home to the Detroit Red Wings, the Detroit Tigers and the Detroit Lions. The District Detroit will also feature residential, office and retail developments that connect these venues into one contiguous, walkable area, where families, sports fans, entrepreneurs, job seekers, entertainment lovers and others who crave a vibrant urban setting can connect with each other and the city they love.

Construction of the arena and surrounding District is expected to generate at least $1.8 billion in total economic impact, 8,300 construction and construction-related jobs and 1,100 permanent jobs. More than $100 million in income from the events center project alone is expected for Detroit residents, with significant additional income to be created through future private development. Learn more at www.DistrictDetroit.com. 

About Olympia Development of Michigan

Olympia Development of Michigan is a Detroit-based full-service real estate company owned by Detroit entrepreneurs Michael and Marian Ilitch. The company is responsible for developing and investing in some of Detroit's most recognized and visited venues, including the nationally acclaimed Comerica Park. Other Ilitch companies in the food, sports and entertainment industries include: Little Caesars Pizza, Blue Line Foodservice Distribution, the Detroit Red Wings, Olympia Entertainment, Little Caesars Pizza Kit Fundraising Program, Champion Foods and Ilitch Holdings. Michael Ilitch owns the Detroit Tigers. Marian Ilitch owns the MotorCity Casino Hotel. 

Photo - http://photos.prnewswire.com/prnh/20151221/317495

SOURCE Olympia Development of Michigan