The $650 million project off Woodward Avenue will produce a 44-block entertainment and Red Wings hockey complex, opening in 2017.
"Forty blocks? I mean, that's bigger than downtown Grand Rapids," says Michael O'Callaghan. He's with the Convention of Visitor's Bureau for Detroit, and his job is to sell the city.
So, could moving the Detroit Pistons into the Red Wings arena be a reality? It's possible.
Pistons owner Tom Gores has hired a guy to look into the possibility.
"People are interested; they want to come here; they want to see what's going on; and that's going to turn into people booking conventions in metropolitan Detroit," says O'Callaghan.
The other possibility is for Gores to go into a deal with Dan Gilbert, and use the land from the unfinished Wayne County Jail Project.
But, what about the Palace?
It would remain open - and it may even see more business.
"Think about the number of concerts and entertainers who bypass Detroit in the winter season because the Red Wings are downtown, and what's going on at The Palace with the Pistons, they can't find a date that works for them," says O'Callaghan. "So, now all of a sudden, if you open The Palace up for that kind of entertainment, potentially you've got a concert series taking place."
Mark Barnhill, a partner at Platinum Equity which owns The Palace, wanted to squash any rumors, though, that this is anything but just a proposal in a statement he released earlier Monday morning.
His statement, in full, reads:
"Tom Gores and his partners are committed to investing broadly in Michigan, including Detroit and its surrounding communities, and to partnering with other business leaders on initiatives that will improve the economy and quality of life in the entire region. Pitting neighborhoods against one another is divisive and counterproductive, and missed the point.
The Pistons have a terrific home in Auburn Hills and ownership has invested substantially in ensuring that The Palace remains a state-of-the-art arena complex as an arena, concert venue and training facility for the team. There are no plans to change that."