DETROIT (WXYZ) - A major announcement is expected Thursday that could bring new stores to Downtown Detroit.
More than 400 business and civic leaders and residents have been invited to the event.
According to a news release, several organizations have been working on a new retail strategy for the Woodward Corridor for seven months.
Dan Gilbert, founder of Quicken Loans, will be on hand for the announcement.
Dave Blaszkiewicz, president and CEO of the Downtown Detroit Partnership will also be attending, along with George Jackson, president of the Detroit Economic Growth Corporation.
The news release says business leaders have been working with four urban planning firms on the new retail strategy and that the plan focuses on a creative and distinctly-Detroit development of Woodward Avenue retail.
It also mentions the development of sidewalks and streets along the corridor.
The news release does not name specific addresses for the new developments, but Gilbert's Rock Ventures has recently purchased several new properties in Detroit, including the 1001 Woodward office tower, One Woodward Avenue and the Kresge Building.
Rock Ventures currently owns approximately 3 million square feet of real estate in Detroit.
7 Action News will be at the 1:00 pm announcement Thursday on the new retail strategy to bring you the latest developments.