Business
Detroit's Skillman Foundation plans to change funding decisions
A Gen Z problem-solving session with the Skillman Foundation. Photo courtesy of the foundation
The Skillman Foundation advocates for a community of children who are primarily Black, but after turning its gaze inward, realized its own spending didn't measure up to the mission.
Driving the news: The youth-focused foundation recently analyzed its financial decisions from 2019-2021 in a Racial Equity Audit.
Live Cycle Delight fitness studio closing
LCD Hot at 1468 Van Dyke St. Photo: Annalise Frank/Axios
Live Cycle Delight, the West Village fitness studio that opened nearly six years ago and expanded to a second location, is shutting down.
Driving the news: Rent is too high for what small businesses get in Detroit, owner Amina Daniels tells Axios, and they're "strapped with loans" given out during the pandemic.
Ross, Ilitches ask for $800M in public financing for District Detroit
Representatives from Olympia and Related Companies asked for approval yesterday from the Downtown Development Authority for more than $50 million in tax incentives for the planned District Detroit. Photo: Samuel Robinson/Axios
The Ilitch family and Stephen Ross are asking for $800 million in public incentives to develop and renovate 10 downtown buildings for apartments, hotels, offices and retail space.
Here are the tax breaks and other public financing requests the Ilitches and Ross are making for their $1.5 billion District Detroit proposal, revealed in a community meeting Tuesday night, which require various approvals to move forward:
Previous public subsidies for Little Caesars Arena top $400 million
Little Caesars Arena to the right of Woodward Avenue. Photo: Samuel Robinson/Axios
As the conversation around the District Detroit tax incentives and financing heats up, we're diving into the Ilitches' Little Caesars Arena, which has already received at least $403 million in public subsidy commitments from the Downtown Development Authority.
Why it matters: With so many residents in need, public funding for downtown developments is often viewed with skepticism — if not outright opposition.
FOIA Friday: Contracts with MSU boosters revealed
Illustration: Lindsey Bailey/Axios
Michigan State finally coughed up the public records shedding light on athletic donations totaling $56 million from boosters Mat Ishbia and Steve St. Andre.
Why it matters: MSU vigorously fought the records' release until a state judge ruled last month that contracts outlining the donations — a portion of which helped fund football coach Mel Tucker's $95-million, 10-year contract — are public.
Unemployment rate falls below 7%
Photo illustration: Allie Carl/Axios. Photo: Bloomberg via Getty Images
Detroit's unemployment rate hit 6.4% in November — its first time below 7% in 22 years, according to Bureau of Labor Statistics figures Mayor Mike Duggan said Thursday.
Yes, but: It's "not something that we're celebrating and stopping, we're going to keep going," he said in a news conference.
Detroit saw longest average Lyft rides in 2022
A Lyft logo is displayed on a car. Photo: Justin Sullivan/Getty Images
Lyft rides in Detroit were among the fastest and longest in the United States, according to end-of-year data from the company.
Why it matters: Figures from October 2021-2022 show a trend in what Lyft riders are doing — namely, going out more.
Detroit development projects we're watching in 2023
Illustration: Brendan Lynch/Axios
New development projects stretching from downtown to the neighborhoods are changing how Detroit looks and feels.
Why it matters: Keeping incremental tabs on development helps the public stay informed about progress — or lack thereof — after the initial excitement when they're announced.
Get a free daily digest of the most important news in your backyard with Axios Detroit.