DETROIT – City council approved $51.8 million in tax breaks Tuesday for District Detroit development.
There was no discussion on the proposal at Tuesday’s (May 30) meeting. The tax exemption requests all passed in one motion.
Olympia Development and billionaire Stephen Ross are the developers behind the projects.
The iconic Fox Theatre was among the four projects approved for tax breaks.
According to documents submitted to the city, the plan is to transform the office space above the Fox Theatre into a hotel with roughly 177 rooms.
Construction will not alter the Fox Theatre.
The Fox Hotel project plans to create 220 permanent jobs.
At 2200 Woodward Avenue, the plan is to create a 17-story mixed-use building with office space and first-floor retail.
At 2250 Woodward Avenue, documents submitted to the city describe a mixed-use, mixed-income building with first-floor retail and 20 floors of multi-family housing space above.
The plan is to have 287 residential units, 58 of which will be considered affordable housing.
At 2300 Woodward Avenue, the plan is to create a five-story mixed-use building with first-floor retail and office space above.
More: City council approves District Detroit tax incentives in 8-1 vote
