SOCIAL MEDIA:
DETROIT, MICH. ~ Half of the Renaissance Center’s $2 billion renovation bill is now covered. Founder and chairman of Rocket Companies and Bedrock, Dan Gilbert, pledged the historic donation today as city officials gathered downtown to share renderings and comments on the project.
The pledge will establish a new nonprofit organization that will oversee the revamp and own and operate the Renaissance Center. The nonprofit will be structured as a 501(c)(4) social welfare organization and the project plans to knock down the 300 and 400 towers closest to the Detroit River to create five acres of riverfront park space. The 100 and 200 Towers would be converted to housing and office space.
“What Dan Gilbert is announcing today is truly historic,” said Detroit Mayor Mary Sheffield in a statement. “This was already the largest, most transformative investment ever pledged in Detroit and one of the largest ever in any American city. For Dan to make a billion-dollar investment – and to guarantee that only the city and its people can benefit – truly shows the depth of his generosity and of his commitment to Detroit.”
