accomplishments

The following summarizes some of the major projects undertaken by Detroit Renaissance since 2000.

For our 2007 annual report or past accomplishments, click one of the tabs above.

2000-Present

Detroit Business Attraction Program – Detroit Renaissance is making a $900,000 investment over three years to help support a new Detroit business attraction program through the Detroit Economic Growth Corporation. The funds were also used to leverage additional foundation dollars.

Detroit Community Loan Fund – As a part of the Minority Business Initiative, the primary objective of the DCLF is to lend relatively high-risk expansion capital to growing minority-owned, small businesses. DCLF provides mezzanine capital and gap financing up to $150,000 per project. The fund’s initial capitalization of $4.1 million was provided by the Detroit Investment Fund and other local investors. The DCLF operating expenses was subsidized by up to $1 million in grants through the Detroit Renaissance Foundation.

Detroit Public School Reform – After the state assumed management control of the Detroit Public Schools in 1999, Detroit Renaissance worked very closely with the Detroit Public School Reform Board and its CEOs: Dr. David Adamany and Dr. Kenneth Burnley to achieve meaningful reform in the system.

Detroit Public Space Maintenance Fund – Detroit Renaissance and the Kresge Foundation have established a $20 million endowment fund to address long-term public space maintenance needs in the greater downtown area.

Detroit Regional Business Attraction & Expansion Successes Report – Detroit Renaissance, in cooperation with the Economic Development Coalition of southeast Michigan, created a report highlighting the business attraction and expansion successes in the region. The 2007 report summarized projects that resulted in the creation of more than 16,000 new jobs, the retention of over 9500 jobs, and regional economic investments totaling $4 billion.

Detroit Urban Retail Loan Fund – The Detroit Investment Fund is establishing a new $5 million fund to encourage retail development in the City of Detroit. Detroit Renaissance secured $2.5 million from the Michigan Economic Development Corporation to support a loan reserve fund for the program.

Downtown Detroit Marketing Program - Detroit Renaissance is making a $750,000 investment over three years to the Downtown Detroit Partnership to promote tourism and visitation.

Downtown Detroit Partnership – Detroit Renaissance, in partnership with downtown stakeholders, creating a new entity that consolidates the functions of Detroit Downtown, Inc. and Greater Downtown Partnership into the Downtown Detroit Partnership. In addition, Detroit Renaissance provides technical support and has fiduciary responsibilities for the Downtown Detroit Partnership.

Economic Development Coalition of Southeast Michigan – The EDCSEM was convened by Detroit Renaissance to promote regional solutions that accelerate economic growth. The coalition is made up of the 13 economic development agencies in the region.

Life Sciences Initiative – Detroit Renaissance and the Detroit Regional Chamber secured a New Economy Initiative grant to undertake a study to evaluate key assets and engage regional and sector leaders in order to identify potential opportunities in the life sciences sector to foster future economic growth.

Lower Woodward Improvement Strategy – Detroit Renaissance raised approximately $25 million from member companies to provide funding support for key projects, including:

Michigan Statewide Minority Business Development Center – Detroit Renaissance applied for and received a U.S. Commerce Department grant to establish the MSMBDC. The Center was established to provide minority business enterprises with strategic business consulting services, access to capital, and access to markets. The Center is now known as the Michigan Minority Business Enterprise Center (MMBEC), and it is currently operated by the Michigan Minority Business Development Council.

Midtown Living Detroit Style Brochure – Detroit Renaissance, in cooperation with the University Cultural Center Association and Wayne State University, provided funding to produce a brochure in 2007 that promotes the Midtown area as a residential living destination to drive the expansion of retail, dining and entertainment establishments.

Office of Neighborhood Commercial Revitalization – Detroit Renaissance provided planning assistance and seed funding for the development of a strategy to strengthen neighborhood commercial districts. As a result, ONCR was established as a program of the Detroit Mayor’s Office.

OneD - Detroit Renaissance helped found this regional collaboration of seven of the region's major civic organizations to increase coordination and focus on strategic priorities.

Pre-Development Loan Funds – Detroit Renaissance Foundation established a series of pre-development loan funds to encourage development activity in the city of Detroit. These loan funds include the Woodward Corridor Development Fund (WCDF), Real Estate Assistance Fund (REAF), and MSHDA Neighborhood Development Fund (MSHDA). Each program acts as a catalyst for development by providing funds at the critical early stages of the development process – when conventional financing sources are unavailable or are very limited. The loan funds have supported the development of several key projects throughout the city. The loans are managed by the Detroit Investment Fund.

Regional Cultural Funding – Recognizing the importance of vital, innovative cultural institutions to the quality of life and economic competitiveness of the region, Detroit Renaissance has led efforts to develop a vehicle to provide supplemental funding, by means of a voter approved tax for the regional cultural agencies. While unsuccessful, from these efforts arose greater synergy and efficiencies among the regions major arts and cultural institutions, including the formation of the Cultural Coalition to increase collaboration and operating efficiencies.

Riverfront Promenade Phase I Design Plan – The 3500-foot riverfront walkway between Joe Louis Arena and the eastern edge of Hart Plaza was financed with a $6.2 million waterfront reclamation grant from the state’s Clean Michigan Initiative. The promenade features a twelve to twenty-two foot wide walkway bordered by a serpentine wall with recessed lighting, built-in benches, and landscaping. Detroit Renaissance provided financial support for the design plan.

Road to Renaissance – Road to Renaissance is a region-wide collaboration that is launching strategies and taking actions to transform our region's economy. Read more here.

Shared Administrative Services- Detroit Renaissance provides office, financial,personnel and other administrative support on a fee for service basis to the Detroit Investment Fund, Detroit Riverfront Conservancy, DNews, Renaissance Venture Fund and Downtown Detroit Partnership. This shared services business model saves the combined organizations tens of thousands of dollars annually.

Structural Reform – Detroit Renaissance formulates and advocates for public policies at the state and regional level, which improve the economic competitiveness and business climate of southeast Michigan. Reform principles are communicated to state leadership and editorial boards. Approximately $800 million in annual savings have been identified.

TechTown – TechTown is a 47-acre site located in the Woodward corridor north of Wayne State University. When fully built out, the area will become an entrepreneurial village with companies developing products in the life sciences, information technology, advanced engineering, and advanced manufacturing industries. The $12 million first phase includes Tech One, the 40,000 square foot build-out of the former Chevrolet Creative Services Building. NextEnergy is also located in TechTown. Detroit Renaissance provided technical assistance to the initiative, and contributed funding support for a marketing plan.