UM's Detroit Innovation Center project to break ground in December
Rendering of future Detroit Innovation Center.
DETROIT (FOX 2) - After years of failed starts, the long-planned Detroit Innovation Center will finally break ground in December.
The University of Michigan's downtown Detroit center will take three years to build and cost $250 million to construct. Officials will gather on Cass Avenue on Dec. 14 for the groundbreaking ceremony, which will include the president of the university and the mayor of Detroit.
Previous versions of the center were pitched at the former failed Wayne County Jail site, but was abandoned two years ago.
The complex is intended to be part of a massive District Detroit project that will cost upwards of $1.5 billion to construct.
The school says the center will be a "world-class research, education and entrepreneurship center designed to advance innovation and talent-focused community development" that will generate growth in the city.
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Stephen Ross, a billionaire businessman has agreed to donate $100 million to the project while the state will gift $100 million toward the project. Olympia Development, which is owned by the Ilitch family that is overseeing the District Detroit project, donated more than two acres of land.
The final $50 million will be raised from donors.
Detroit City Council approves $51.8M tax break for District Detroit development
The Detroit City Council has approved a tax break of close to $52 million for the next decade to make way for four residential and commercial buildings in downtown as part of the Ilitch organization and Stephen Ross' District Detroit development plan.