The Wayne County Commission is expected to approve a bid Wednesday by Dan Gilbert's Rock Ventures LLC to redevelop its half-built jail site and existing jail properties, a source close the matter told Dustin Walsh of Crain's.
The seven-member request for interest review committee voted 4-3 this week and will make the recommendation Wednesday afternoon, a source said. The recommendation specifically calls for a 90-day period to negotiate terms of a deal. If no deal is reached at the end of the 90 days, the county could again review other proposals.
The source said Rock's bid was in the $40 million range.
In a previous interview, Rock CEO Matt Cullen told Crain's the project could resemble L.A. Live, the $2.5 billion, 5.6 million-square-foot development in Los Angeles that includes the Nokia Theatre, Grammy Museum, ESPN broadcasting studios, two hotels, condominiums and several restaurants. L.A. Live is next to the Staples Center, a multi-purpose arena.
