Detroit’s Renaissance Center is on the verge of a dramatic transformation, one that could reshape the city’s riverfront area for generations.
Dan Gilbert, founder and chairman of Rocket Companies and Bedrock, announced a $1 billion commitment Monday to establish a nonprofit organization that will redevelop, own and operate the Renaissance Center and the surrounding east riverfront district. The contribution is believed to be the largest-ever donation to a nonprofit redevelopment effort in the United States.
The plan calls for transforming the 35-acre property into a family-friendly waterfront destination, with a mix of housing, retail, entertainment and public spaces designed to attract both Detroit residents and visitors.
“The Renaissance Center is a symbol of Detroit, and the riverfront is one of Detroit’s most treasured assets,” Gilbert said in a written statement. “We all share the goals of bringing new life to the Renaissance Center, of building a thriving riverfront district for all to enjoy and of maximizing positive community impact.”
In a press release, Gilbert said that a nonprofit organization dedicated to the mission would provide the best way to accomplish those goals.
The proposed $2.24 billion redevelopment is expected to create thousands of construction jobs and about 2,600 permanent positions. Plans also call for affordable housing and opportunities for Detroit-based small businesses, along with community-oriented spaces.
According to Rocket, the nonprofit will operate under a model in which revenue generated after completion covers operating expenses, with any surplus directed toward programs and initiatives benefiting Detroit residents.
Reverend Dr. Wendell Anthony, president of the Detroit Branch of the NAACP, and Bill Emerson, former CEO of Rocket Companies, will serve on the nonprofit’s inaugural board of directors. Additional details about the 501(c)(4) organization are expected to be announced later.
The redevelopment is expected to unfold over several phases, with construction beginning in 2027. Project officials are also seeking a $300 million package through Michigan’s Transformation Brownfield Program.
One of the most dramatic elements of the proposal involves removing two of the Renaissance Center’s towers. Each contains about 675,200 square feet of space. The five-story podium surrounding the towers would also be demolished.
That demolition work is scheduled to begin in 2027 and continue through 2031. Plans also call for redeveloping the hotel space in the center tower.
A second phase will focus on converting Tower 100 into residential space. That project, scheduled for 2033 through 2036, would create approximately 384 apartments. Meanwhile, Tower 200’s office space would undergo modernization between 2034 and 2036.
The redevelopment extends beyond the Renaissance Center itself. The adjoining RiverEast District will receive its own multiyear investment, with the first phase scheduled for 2028 through 2031 including improvements to the marina and public spaces, along with retail and an entertainment anchor.
A second phase is planned for 2031 through 2034, followed by a third phase running from 2032 through 2036 that would introduce additional multifamily housing and entertainment uses.
