New $30 Million Temple West Mixed-Use Building Announced in The District Detroit
Expected to bring new space ready for retail, office and residential, as well as additional parking near Little Caesars Arena
DETROIT, Dec. 13, 2017 /PRNewswire/ -- Olympia Development of Michigan today announced construction has begun on a new 285,000 square-foot multi-story, mixed-use building on Temple Street that brings additional parking, along with space ready for new retail, residential and office to The District Detroit, continuing the rapid development happening near Little Caesars Arena and beyond.
"As we move into 2018, we continue to make incredible progress on a wide variety of projects that will support a vibrant work, live and play sports and entertainment district for our community to enjoy," said Travis Arbogast, Vice President of Development at Olympia Development of Michigan. "With much more development to be announced in The District Detroit in the coming months, our vision is taking shape more each day."
The seven-story Temple West mixed-use building will provide 730 new parking spaces near the innovative, new Little Caesars Arena and the Wayne State University Mike Ilitch School of Business. Temple West is also expected to accommodate 3,600 square feet of new retail space along with residential housing units or office space. Construction of the $30 million project is led by Detroit-based joint venture Colasanti-MiG and is scheduled to be completed in late 2018.
Continued Development
Since 2015, Olympia Development of Michigan and its partners have launched more than a dozen major development projects in Detroit including Little Caesars Arena and its adjoining office and retail spaces, the Little Caesars world headquarters campus expansion, the Wayne State University Mike Ilitch School of Business, infrastructure and public space enhancements, and more. Together, the projects set the stage for significant additional retail, office and residential development to be announced in the coming months.
About The District Detroit
The District Detroit is one of the largest sports and entertainment developments in the country. Located in the heart of Detroit, this 50-block, mixed-use development led by the Ilitch organization unites eight world-class theaters, five neighborhoods and three professional sports venues in one vibrant, walkable destination for people who want to live, work and play in an exciting urban environment. Home to the Detroit Tigers, Detroit Red Wings, Detroit Pistons and Detroit Lions - The District Detroit represents the greatest density of professional sports teams in one downtown core in the country.
Current data from the University of Michigan demonstrates that The District Detroit will account for an economic impact of more than $2 billion by 2020 and create more than 20,000 construction and construction-related jobs and 3,000 permanent jobs.
SOURCE Olympia Development of Michigan
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