DETROIT -- The Detroit Red Wings and city officials on Wednesday announced a $650 million plan for a new arena development for the NHL team in Detroit's downtown entertainment and sports district.
Plans for an 18,000-seat arena were announced by the team's owners and local economic development officials. Red Wings owner Mike Ilitch has long said he wanted a replacement for the 32-year-old Joe Louis Arena.
The new proposal -- essentially a framework of financing and development plans -- still needs to be approved by the City Council and a handful of state and local agencies, but it's seen as an important first step. The Red Wings said there will be $367 million in private investment and $283 million in public funds in the complex, which would also include residential, retail and office space.
