Detroit Red Wings reveal $650M US plan for new downtown arena

The Detroit Red Wings revealed plans for a new home on Sunday as part of a re-energizing of the Motor City's downtown core.

Olympia Development of Michigan announced in a report on the National Hockey League's website (NHL.com) plans to transform dozens of underutilized blocks between downtown and midtown Detroit into a sports and entertainment district.

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The plans call for a new arena to replace the aging Joe Louis Arena that has been the Wings' home since 1979.

"It's always been my dream to see a vibrant and energized downtown Detroit," Red Wings owner Mike Ilitch said in a statement on NHL.com.

"I want people to look at Detroit's new sports and entertainment district and see what I see: the potential for something very special.

"I couldn't be more excited and proud to bring this vision to life."

The entire project has been estimated at costing $650 million US.

Groundbreaking for the new arena is scheduled for later this year along with development of new, mixed-use neighbourhoods in the district.

The district will encompass dozens of blocks along and near Woodward Avenue. Development in the District will be integrated with existing sports and entertainment venues in or adjacent to the space, including the Fox Theatre, Comerica Park, MotorCity Casino Hotel, Ford Field, the Detroit Opera House, the Fillmore Detroit and more.

Weve done business in Detroit for nearly 50 years, and this is our most significant and ambitious project here yet, Christopher Ilitch, president and CEO of Ilitch Holdings, Inc., said in a release. Our great city is home to some of the worlds most legendary people, teams and venues in sports and entertainment. Detroit deserves no less than the best a world-class sports and entertainment district we can all be proud of. And thats exactly what we will build.