Billionaire businessman Dan Gilbert wants to build the tallest building in Detroit on the site of the old Hudson's site on Woodward Avenue.
The newest building would be 734 feet tall. The Renaissance Center, the city's current tallest building is 727 feet tall.
"Our goal is to create a development that exceeds the economic and experiential impact even Hudson's had on the city," said Gilbert In a press release touting the project. "We believe this project is so unique that it can put Detroit back on the national -- and even global -- map for wolrd-class architecture, talent attraction, technology innovation and job creation."
The project, described as transformational by Rosko Development Company, would total 52 stories above ground and include a mix of office, retail and residential as well as exhibition and cultural spaces. The project would include 250 one to three bedroom residential units. Rosko Development is an affiliate of Bedrock Real Estate Services.
The total cost of the project is estimated at $775 million, according to Jozef Guziewicz, vice president of construction for Bedrock.
The Detroit Downtown Development (DDA) approved a third amendment to the development agreement with Bedrock on Wednesday. The project could be scaled back if pending legislation in Lansing that would developers around the state capture sales and income tax revenue to support projects of this type.
If approved, construction would begin December 1 with a targeted completion date of December 1, 2020, according to Guziewicz.
