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Story summary
- Dan Gilbert pledges $1 billion to create a nonprofit redeveloping Detroit’s Renaissance Center and riverfront.
- It will own, operate and manage the Renaissance Center and a 35-acre riverfront district.
- Funding totals $2.24 billion: $1.6 billion for RenCen site and $624 million for riverfront.
- Rocket Companies expects thousands of construction jobs and 2,600 permanent positions.
- Demolition of two RenCen towers will run 2027-2031, followed by Phase 2 in 2033 converting Tower 100 into 384 affordable apartments.