Detroit council OKs land transfer for new arena
FEB 04, 2014 3:56p ET
DETROIT (AP) -- The Detroit City Council has voted 6-3 to approve transferring vacant city-owned parcels for a new hockey arena and a 45-block entertainment complex just north of downtown.
Once complete, the 18,000-seat arena will become home to the Detroit Red Wings who will move out of aging Joe Louis Arena.
The transfer approved Tuesday is the third part of council action on the $650 million project. In December, the board OK'd financing for the project and broadened the boundaries of the city's Downtown Development Authority.
The authority would own the arena and event center. Olympia Development would have exclusive rights to use, manage and operate it, and hold naming rights.
The Ilitch family owns Olympia Development and the Red Wings.