$52 million in construction contracts awarded to local companies in new Detroit arena

by

comment
OLYMPIA DEVELOPMENT OF MICHIGAN
  • Olympia Development of Michigan

On Monday, the Downtown Development Authority approved an additional nearly $52 million in new contracts for Olympia Development's new 20,000-seat Red Wings arena and auxiliary "District Detroit" development.

According to a press release, more than $27 million of the new contracts are going to Detroit-based businesses, such as Motor City Electric's $16 million contract for electrical work in the arena and Ideal Contracting's $11 million contract for foundation and steel work. In total, the sum of contracts comes to $257 million, with 65 percent of the contracts going to Detroit businesses and 95 percent of the contracts going to Michigan businesses.



The arena, slated to open for the 2017-18 hockey season, was financed through a $450 million in state-issued bonds in a "daisy chain of borrowing." 

Read our 2014 cover feature on how owner Mike Ilitch scored the new Red Wings arena here.


We welcome readers to submit letters regarding articles and content in Detroit Metro Times. Letters should be a minimum of 150 words, refer to content that has appeared on Detroit Metro Times, and must include the writer's full name, address, and phone number for verification purposes. No attachments will be considered. Writers of letters selected for publication will be notified via email. Letters may be edited and shortened for space.

Email us at letters@metrotimes.com.

Detroit Metro Times works for you, and your support is essential.

Our small but mighty local team works tirelessly to bring you high-quality, uncensored news and cultural coverage of Detroit and beyond.

Unlike many newspapers, ours is free – and we'd like to keep it that way, because we believe, now more than ever, everyone deserves access to accurate, independent coverage of their community.

Whether it's a one-time acknowledgement of this article or an ongoing pledge, your support helps keep Detroit's true free press free.