The University of Michigan Center for Innovation (in Detroit)
University Record article - https://record.umich.edu/articles/university-outlines-new-commitments-for-helping-detroit/
Crain's Detroit Article - https://www.crainsdetroit.com/real-estate/dci-becomes-university-michigan-center-innovation?utm_source=morning-newsletter-tuesday&utm_medium=email&utm_campaign=20230306&utm_content=article1-headline
"The proposed Detroit Center for Innovation has a new name: The University of Michigan Center for Innovation.
That's not the only change for the $250 million, 200,000-square-foot facility expected to break ground this year on Ilitch family-owned property west of the Fox Theatre.
Stephen Ross' New York City-based Related Cos. is no longer developing the property, and the university is now taking the lead on designing and building it, akin to how it built the business school in Ann Arbor that bears the developer's name. And its academic and programmatic offerings are being expanded beyond graduate studies to fields like robotics, computer science and technology, UM said in a Monday release."
If the University reached out (broadly) to the Metro-Detroit Alumni, $50 million could be raised rather easily.
This is for the best. I think Ross/Related had been stuck on this for at least two years now. They’ve had a team specifically for this project for a while and I don’t think that we got much more than a few renderings and a website.
I think Michigan picking this up serves a greater purpose and will have a greater impact than operating a mixed use development under the guise of an innovation district.
Reach out to Larry Page for the donation.
Nice.
That's a hefty price per sq ft.
that's The Michigan Difference!
I'll chip in a couple mil if they call me.
Cool. I read an article about how some tech opportunities are coming up in Detroit. A big reason is cars are increasingly relying on tech. The big companies have really just spent the last few years getting their feet wet and now really investing and that's bringing in Google and others.
https://www.newsweek.com/2023/02/17/us-automakers-aim-make-detroit-next-silicon-valley-1779611.html
We'll see how it actually plays out. I'm moving back to Michigan in June (not in tech) and was wondering about living in Detroit. I at least have more optimism about Detroit's potential than Flint unfortunately. Although you'd think if Detroit really had a renaissance that would benefit Flint as well.
All hype, zero substance unfortunately. The automotive business works on brutal margins - innovation is largely limited to high-end models.
The only L3 certified vehicle is the Mercedes Benz EQS, on certain roads in Nevada. Tesla is committing fraud by selling something that uses the marketing term FULL SELF DRIVING, that is not actually full self driving. It's amazing that the SEC/NHTSA haven't shut them down yet. California recently enacted some legislation though to reign in their marketing claims.
I lived in Detroit for seven years - fun if you're in your early/mid 20s.
Billions are being spent annually transitioning to electric drive. Pickup/SUV sales print money for OEMs that they are putting into e drive technology. There is plenty of tech opportunity. Full self driving isn't the only technology.
the university is now taking the lead on designing and building it, akin to how it built the business school in Ann Arbor that bears the developer's name.
I hope they hire a different architect. The B-School building is one of my least favorite on campus. That orange siding was an odd choice.
Not saying you are wrong, but the B School is my favorite on campus. I love the design and color.
Go Blue!
Here's hoping it contributes to Detroit's growth.
Ilitch owned land, Stephen Ross pulling out of the project... Board of Regends just loving all sorts of conflicts of interest and favored nation statuses on this project.
Not great looks all around.
Allegedly the Ilitch family is donating the land to the University.
So you've got the university using its regents, repeatedly, to get it the land it wants. Ron Weiser is doing it for the Elbel dorm project. Denise Ilitch is doing it in Detroit.
The look is not good.
Why? It's a donation to the University. Regents are elected by the public. If Regents were University employees, that would be different.