The Detroit Economic Growth Corporation UM BA 517- Real Estate Essentials Class Presented to

2 © 2009 DEGC Confidential and Proprietary Information Page No.  The Detroit Economic Growth Corporation (DEGC) is a private non-profit organization and was established in 1978 as a public-private partnership whose mission is to grow economic opportunities within the City of Detroit.  The DEGC staffs the City of Detroit’s various public authorities (DDA, EDC, DBRA, LDFA, TIFA, CIA) and uses those powers to help finance and implement economic development projects.  DEGC reports directly to the Mayor of Detroit. And is funded by the City of Detroit and through private donations.  DEGC is made up of a Business Development, Board Administration and Project Group.

3 © 2009 DEGC Confidential and Proprietary Information Page No.  Malik Goodwin  V.P. Project Management, DEGC  Manage 7 Project Managers; report to the Executive V.P-Contract Services, DEGC  The Project Group is actively managing projects which mainly involve the planning, design/ engineering, and construction of infrastructure improvements within the Central Business District, the east riverfront neighborhood, and in industrial areas, as well as performing land acquisition, and interim land management activities that are required for an economic development project to materialize. –Projects include: Campus Martius Development East Riverfront Redevelopment (Dequindre Cut, Hart Plaza, various development sites) Paradise Valley Cultural and Entertainment District Project Capitol Park/ West District Redevelopment Project I-94 Industrial Park Light Rail- Transit Oriented Development, managing jointly with the City and M1-RAIL

4 © 2009 DEGC Confidential and Proprietary Information Page No. Woodward Avenue Streetscape Improvements Woodward Avenue Before After

5 © 2009 DEGC Confidential and Proprietary Information Page No. Washington Boulevard Streetscape Improvements Washington Boulevard Before After

6 © 2009 DEGC Confidential and Proprietary Information Page No. Lower Woodward Streetscape Improvements  Owner: City of Detroit-DDA  Project Cost: $2.5 million  Completion Date:November 2010  Architect of Record:Spalding DeDecker Associates  General Contractor:Jenkins Construction  Project Description: The work includes the installation of decorative pavement, new pedestrian bollards, pedestrian and street lighting.  Funding Sources: City of Detroit- DDA, State of Michigan, Kresge Foundation, U.S. Dept. of Energy

7 © 2009 DEGC Confidential and Proprietary Information Page No. Lower Woodward Streetscape Improvements 01

8 © 2009 DEGC Confidential and Proprietary Information Page No.

9  Owner: City of Detroit-DDA  Project Cost: $1.1 million  Completion Date:November 2010  Architect of Record:Merz Associates  General Contractor:Tooles Construction  Project Description: The work includes the installation of decorative pavement, new landscaping, pedestrian and street lighting, repair of the irrigation, and the relocation/ re-internment of the first Governor of the State of Michigan, Stevens T. Mason.  Funding Sources: City of Detroit- DDA, State of Michigan, Kresge Foundation, U.S. Dept. of Energy Downtown Façade Lighting Program

10 © 2009 DEGC Confidential and Proprietary Information Page No. Rosa Parks Transit Center  Owner: City of Detroit- DOT  Project Cost: $22.5 million  Completion Date:Completed  Architect of Record:Parsons Brinckerhoff  General Contractor:DeMaria  Funding Sources: U.S. DOT, City of Detroit

11 © 2009 DEGC Confidential and Proprietary Information Page No. Westin Book-Cadillac Hotel  Book Cadillac  Reached an agreement with the Ferchill Group of Cleveland, Ohio in 2004  457-room Westin luxury hotel  66 luxury condominium units on the top floors  $176 million investment  Opened in 2008

12 © 2009 DEGC Confidential and Proprietary Information Page No. Paradise Valley Streetscape and Open Space Improvements- Phases I and II  Owner: City of Detroit-DDA  Project Cost: $2 million  Completion Date:July 2010  Architect of Record:Spalding DeDecker Associates  General Contractor: Jenkins Construction  Project Description: The work includes the installation of decorative pavement, new landscaping, pedestrian and street lighting, repair of the irrigation,  Funding Sources: City of Detroit- DDA, Kresge Foundation, U.S. Dept. of Energy

13 © 2009 DEGC Confidential and Proprietary Information Page No. The DDA is providing the oversight of property management services for the district buildings and grounds. To stabilize the building assets for existing and future tenants, the DDA began conducting building improvements to the buildings within the Paradise Valley district. The work ranges in its scope from mechanical, core and shell, and exterior lighting improvements. Paradise Valley Capitol Improvements

14 © 2009 DEGC Confidential and Proprietary Information Page No. The EDC has been working with the City of Detroit to construct the southern segment of the Dequindre Greenway, from Woodbridge to Atwater Street, which is leased from the City of Detroit to the Michigan Dept. of Natural Resources. Dequindre Cut Extension 01 Project Description: The improvements include separate walk and bike paths, benches, planters, lighting, and cameras and call boxes. Project Cost:$1 million Project is nearing completion.

15 © 2009 DEGC Confidential and Proprietary Information Page No. Detroit’s Future West Riverfront District is the next waterfront opportunity.

16 © 2009 DEGC Confidential and Proprietary Information Page No. Detroit’s Future Hart Plaza Renovation