Business leaders want to turn Belle Isle into special economic zone — what that means

DETROIT – A new $50 billion plan for Belle Isle would transform the island into a special economic zone with high-income housing, shopping, and about 50,000 residents.

Belle Isle draws more than 5 million visitors a year. It’s owned by the city of Detroit and maintained by the state as a public park. But a group of business leaders say it could become something far more powerful.

They want to transform the 982-acre island into the first special economic zone. Think high-income housing, shopping, entertainment, and a community of up to 50,000 people. The total price tag: $50 billion.

So what does Detroit get out of it? Under the plan, investors would make a $1 billion down payment on a long-term lease from the city, plus $50 million every single year. And the job numbers are staggering — 46,000 permanent positions, with Detroit residents first in line to be hired.

And here’s something that may surprise you — voters like it.

A new poll from Mitchell Research and Communications surveyed more than 800 voters — and found majority support both statewide and right here in Detroit.

Here’s the reality — this is a long way from happening. Three separate approvals would have to fall into place.

Rodney Lockwood, the developer behind the project and chairman of Belle Isle Freedom City, and Steve Mitchell of Mitchell Research and Communications, joined Local 4 Live to talk more about it. You can watch the full interview in the video at the beginning of this article.