DETROIT (WJBK) - With the new Little Caesars Arena as the centerpiece, city officials outlined a neighborhood plans Friday for the District Detroit.
The District Detroit Development appears to be moving along as scheduled according to Mayor Mike Duggan, Chris Illitch and others.
They're planning nearly 700 apartment units in downtown Detroit, with 139 of those units used for low income housing.
"The starting work on 700 units in six buildings with a $160 million of investments is the kind of investment in housing we haven't seen in this city in decades, and it is indeed historic," Duggan said.
The affordable housing units, which will be spread throughout all six buildings, are expected to start at $700.
Average rent will be based on the current rate.
The project also involves the American, The Eddystone, and the Bagley -- buildings that are not being used to their fullest potential.
Constructions and renovations on all of the properties are scheduled to begin between this year and 2018.
"The District Detroit will be one of the most unique and exciting places in the country to live," Illitch said.
Duggan says he and Illitch had a candid conversation about mixing the old with the new, and marking room for everyone.
"We talked about what it would mean to build District Detroit in a way that included everybody. We talked about what it would mean to preserve every building that we possibly could from our history, not just knocking them down and building new. We talked about what it would mean for diversity, not just in those who worked here and lived here, but also those who were investors and owners," Duggan said.
City leaders say research from the University of Michigan shows The District Detroit will have an economic impact of more than $2 billion by the year 2020.