05/12/2025
The new CEO of Detroit’s largest real estate development company believes legislative action is imminent on an incentive program integral to the proposed redevelopment of the Renaissance Center.
Speaking Thursday morning at a Crain’s Detroit Power Breakfast event, Bedrock LLC CEO Jared Fleisher said there’s been bipartisan action in recent days to introduce bills to expand the transformational brownfield program and is hopeful a vote could happen before the end of the year.
And while time is of the essence for getting the program expanded to undertake the redevelopment, Fleisher said in the fireside chat with Crain's Executive Editor Mickey Ciokajlo that Bedrock would hold off for at least a while on commencing work so as to preserve hotel room capacity.
Bedrock’s $1.6 billion plan to redevelop the 1970s-era office complex on the Detroit River was first floated just over a year ago and includes demolishing two 39-story towers, with another tower being overhauled for residential use and another as spruced-up office space.
The 1,300-room Detroit Marriott at the Renaissance Center hotel tower, the state’s tallest building at 73 stories and 727 feet, would also be carved up, reducing the hotel to some 850 rooms on the lower levels and reserving the top levels for additional residential space.
But Fleisher said given that the Final Four men's college basketball event is coming to Detroit in 2027, any work would be destined to start after that because the hotel capacity is needed for the NCAA tournament.
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