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Detroit approves memorandum for new Red Wings stadium

Hockey fans in Michigan rejoiced this month after the city of Detroit announced that it had approved a memorandum of understanding to build a new home for the Red Wings in the downtown area. The $650 million project is expected to cover approximately 45 blocks from Grand Circus Park to Charlotte St., between Woodward Ave. and Grand River Ave. According to planners from the Downtown Development Authority, the new stadium will finally incorporate all three of the state's major league sports venues into one entertainment district at the heart of the city.

The future site of the new stadium had long been rumored as the site for the new hockey stadium, the key was getting city planners and investors on board with the idea. It's unclear at this time whether the plans will need any special zoning requirements nor is it known whether the commercial property has been cleared to start construction at this time.

According to the Downtown Development Authority, the new entertainment district will include a $450 million sports and entertainment center and a $200 million residential, retail and office development.  Though the new stadium will hold fewer fans than the Joe Louis Arena, the updated venue will likely offer more opportunities to retailers and shoppers alike.

It's important to point out that while this announcement is exciting to a majority of people here in the state, the plans for the new entertainment district still need to go through the appropriate approval processes and may take time to clear all state and federal building laws.  As readers of our blog already know, large commercial projects such as this often take a considerable amount of time to iron out before they can become a reality down the road.

Source: The Huffington Post, "Red Wings Arena: Plans For $650 Million Entertainment Venue Unveiled By Detroit's Development Authority (MAP)," June 19, 2013

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