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Wednesday, 05 December 2012 14:39

Ilitch proposes $650M project housing Red Wings

DETROIT (AP) - Detroit Red Wings owner Mike Ilitch is planning a $650 million multiuse development in downtown Detroit that includes a new home for his hockey team. Ilitch said Tuesday that he's proposing a "substantial investment in the development of a new residential, retail, office and entertainment district in downtown Detroit." Ilitch has long said he wants to build a new downtown home for the Red Wings, who now play at Joe Louis Arena. Spokeswoman Sandra van Meek says the proposed development would include a replacement for Joe Louis, which was built in 1979. Detroit Mayor Dave Bing says he's "very pleased" at news of the project, which caps $1.9 billion in Ilitch investments. Ilitch's family also owns the Detroit Tigers, Little Caesars Pizza and downtown Detroit's Fox Theatre.