Business

Annalise Frank
Jan 24, 2023 - News

Detroit's Skillman Foundation plans to change funding decisions

People sit at tables watching someone speak.

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.

Annalise Frank
Jan 19, 2023 - Business

Live Cycle Delight fitness studio closing

The storefront of Live Cycle Delight shows its logo and description as well as a "for lease" sign.

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 from the Downtown Development Authority for more than $50 million in tax incentives.

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:

Joe Guillen
Jan 12, 2023 - News

Previous public subsidies for Little Caesars Arena top $400 million

Little Caesars Arena pictured to the right of Woodward Avenue. Photo: Samuel Robinson/Axios

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.

Joe Guillen
Jan 6, 2023 - News

FOIA Friday: Contracts with MSU boosters revealed

Illustration of a manila folder opening like a door.

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%

Illustrator of Detroit Mayor, Mike Duggan, with lines radiating from around him.

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

The back of a car shows a Lyft driver sticker in the window.

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 of a construction crane lifting another crane, which is lifting another crane, which is lifting another crane.

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.

Detroitpostcard

Get a free daily digest of the most important news in your backyard with Axios Detroit.

🌱

Support local journalism by becoming a member.

Learn more