In the state's recently passed $76 Billion budget, $100 million was set aside for U-M new innovation center in Downtown Detroit. The state also awarding the Joe Louis Greenway project $40 million. This is on top of $60 million that was earmarked in an infrastructure bill earlier this year.
State lawmakers pump $100 million earmark into Ross, Ilitch UM Detroit Center for Innovation project
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Michigan lawmakers have approved a $77 billion state budget that includes a $100 million earmark for the proposed Detroit Center for Innovation project.
The money would cover more than a third of the stated $250 million project cost of the joint effort by Stephen Ross' New York City-based Related Cos., the Ilitch family's Olympia Development of Michigan and the University of Michigan. The project centers on construction of a proposed graduate school campus focused on research and innovation.
Ross, who is a major UM donor worth more than $8 billion, has previously committed $100 million of his own money toward completion of the 200,000-square-foot facility, expected to go on a chunk of property that's primarily a surface parking lot owned by the Ilitch family in its District Detroit development area.
"We are pleased the state has made a critical investment in this project," a UM spokesman said.
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https://www.crainsdetroit.com/real-e...ter-innovation