Construction of the Hudson project started in 2017 by Gilbert and the 48-story structure has already received roughly $200 million in government incentives.
Although some argue that the city requires the funds more than Dan Gilbert, Detroit Mayor Mike Duggan supports the billionaire developer’s tax break.
For Hudson skyscraper project, Dan Gilbert, a billionaire developer, is requesting a $60 million tax exemption from the city of Detroit.
The tax cuts, according to Mayor Duggan, will have a direct impact on the downtown development authority, with minimal impact on Detroiters.
“There has really been a lot of misinformation,” Duggan remarked.
“And it is not taking any money away from schools, libraries, neighborhoods,” he added, “that money couldn’t be spent there anyway.”
The Hudson proposal in downtown Detroit would include offices, a restaurants, hotel, residential space and retail.
To complete the project in two years, Gilbert is investing $1 billion and borrowing $400 million. This, according to his right-hand man, is an investment in Detroiters.
Over the years, Gilbert has completed nearly 100 downtown development projects.
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