By Matt RourkeA couple of months ago, we posted about a few locations in the Northwoods mall in downtown Detroit that were about to get a $1.4 billion facelift.
We were told that one of the biggest issues that would have to be addressed was a lack of parking spaces.
The answer was yes, but not in the way we thought.
On Monday, Detroit officials announced that a new $1 billion, 5,000-space mall will open in the city’s downtown.
This will be the biggest development in the area since the original Northwoods was built in the 1970s.
The Northwoods will be home to five of the area’s largest retailers, including Macy’s, Bloomingdale’s, J.C. Penney, Sears and Macy’s.
There will also be a brand new Starbucks in the space.
The plan is to add an additional 1,400 to 1,600 new parking spaces by the end of 2019.
The new mall will also include a new, 4,000 seat arena.
The mall will have a total of 5,600 parking spaces, which will be dedicated for both retail and restaurants.
The first 500 spaces will be reserved for parking for Macy’s flagship store and the other 500 for the new stores.
The $1,400 million expansion will be financed with a combination of bonds, city and state funds and private equity.
The plan calls for a 20 percent increase in the state’s sales tax.
The additional revenue will pay for construction of the new mall and to fund a new arena.
Detroit’s $1B Northwoods project will add 3,000 new retail spaces, plus an additional 4,200 spaces for restaurants, to the Northlands mall, according to a press release from Detroit Economic Development Corp.
The new mall is scheduled to open in 2021.
The Northwoods is the second largest shopping mall in the United States with approximately 30 million square feet of retail space.
It will be owned and operated by Northwoods Properties, Inc. which is owned by the same family that owns the Detroit Tigers baseball team.
The first Northwoods opened in 1967, according a press statement.