From arena development updates to DPS real estate madness, the weekend was full of billionaire-related controversy in Detroit. Here are the highlights:
Koch's Pet Coke— Detroit Bulk Storage appears to have given up trying to store huge mountains of pet coke in Detroit, but the company is determined to create an environmental hazard somewhere on the Detroit River. They're now seeking permission to store 300K tons of the stuff in an industrial area of River Rouge, just a half mile from neighborhoods. The pet coke is owned by Koch Carbons.
Arena Deal— The City of Detroit recently gifted the Ilitch organization acres of city-owned land upon which to build their new arena development. For free. As a thank-you note, the Ilitches and the State of Michigan promptly cancelled the city's share of future arena revenues, roughly $7M/year. Photo: Mike Ilitch.
Southwestern High— Matty Moroun, owner of the Ambasssador Bridge and Michigan Central Station, would like to buy Detroit's abandoned Southwest High School for just under $1.2M. According to a Moroun representative, the company plans to renovate the school into corporate offices and a community center. Keep in mind, this is coming from the guys who intentionally destroyed a neighborhood and illegally closed a park, amongst other things. Also, the building just happens to be right next to the proposed path of the new NITC bridge project, which Moroun has spent millions of dollars trying to halt.