List Your Equipment For Free  /  Seller Login

Developer Donates $100M to University of Michigan for Innovation Center in Detroit

Wed March 04, 2020 - Midwest Edition #5
Associated Press


DETROIT (AP) A wealthy real estate developer announced in a statement that he is donating $100 million to help kickstart a fundraising campaign for construction of the University of Michigan's Detroit Center for Innovation.

Stephen M. Ross said the center will help usher Detroit "into a new era of leadership in technology." The Detroit-born Michigan graduate is chairman of The Related Companies and also majority owner of the Miami Dolphins.

The statement from the Detroit Center for Innovation project said the idea is for it to become a talent pipeline to existing companies and also to draw new businesses to the city.

An initial phase of the project will, among other things, include a University of Michigan anchor academic building, incubator and start-up services, as well as a hotel and conference center. Construction is expected to begin in 2021.

The 14-acre center will be located at the site of the former Wayne County Jail in Detroit. The University of Michigan's flagship campus is in Ann Arbor, around 40 mi. to the west.

Detroit Mayor Mike Duggan called the $100 million donation "historic." He said the auto industry is betting on Detroit becoming a center of technological advances and that the announced gift "builds on that momentum."

Dan Gilbert, chairman of the Detroit-based Bedrock real estate company, also made a significant land donation to the project.




Today's top stories

Protecting Delaware Memorial Bridge

Widespread Catastrophic Damage From Hurricane Awaits Repair Crews in SE States

Flatiron, Dragados JV Set to Finish Major Job in Corpus Christi

JCB Celebrates 20 Years of Engine Making

Robert H. Finke & Sons Holds Open House at New Colchester, Vt. Facility

Snyder Civil Leads Way to Provide Clean Water, Safe Communities, More

Today's Security Tech Helps Contractors Combat Jobsite Theft

Komatsu Company Stores East Holds Open House in Pennsylvania


 







39.95234 \\ -75.16379 \\ Fort Washington \\ PA