It appears GM’s planned $1-billion investment in its Warren Tech Center has inadvertently caused a ripple effect, spurring companies across various industries to shore up real estate and set up shop in the area.
New investments include plans to build 200 high-end apartments around City Hall, the installation of a new Cadillac dealership, and possibly a brand new luxury hotel located directly across the street from the expanded Tech Center. The hotel may even include a retail space that could house a specialty grocery store like Whole Foods, according to Crains Detroit Business.
There’s even a Menards home improvement store on the docket, too.
In total, the city estimates roughly $300-million in new development is earmarked for the downtown district alone– a massive windfall for the city with a population of just 135,000.
GM in May said it would pour the money into the Tech Center through to 2018, with plans to add 2,600 jobs in the process. Currently, an estimated 15,000 to 20,000 workers make their living at the 326-acre facility.
City officials say the prospect of the new world-class engineering center filled with well-paid workers has attracted businesses of all stripes and types to the area.
The city is a “pretty hot commodity right now,” said Warren Mayor Jim Fouts. “GM is the train that is leading all that.”