(WXYZ) — The Detroit City Council narrowly approved a $60 million tax abatement for Dan Gilbert's Hudson's site project during a hearing on Tuesday.
The tax abatement plan passed 5-4 after it had been postponed three times. It will provide Bedrock, Gilbert's real estate arm, with a 10-year tax break that the company said is necessary to finishing the skyscraper.
Council President Mary Sheffield, Council Members Scott Benson, Fred Durhal III, Coleman A. Young II and Mary Waters approved the plan.
Council members Angela Whitfield-Calloway, Latisha Johnson, Gabriela Santiago-Romero and James Tate voted against the project.
After the postponement of the vote, Bedrock officials detailed additions to the project in an effort to get the tax break approved.
Among the additions, Bedrock said it would increase the amount of affordable housing in the company's Detroit portfolio to 30%, dedicate 20% of ground-level space in Hudson's development to Detroit-based small businesses, give $1 million to support those small businesses and more.
Bedrock said that construction costs for the skyscraper have skyrocketed to $1.4 billion, which is higher than the $909 million it was expected to cost.
Construction began on the 49-story building in 2017 and Bedrock has already received about $200 million in government incentives.
The project is expected to be complete by the end of 2024, and it will include a 49-story skyscraper with hotels, condos and more, and a 12-story portion on the north side for offices and retail space.
