Press Release | Apr 16, 2024Honigman Serves Key Advising Role for Detroit Pistons and Future of Health Project as Historic Development Secures Important Approval

DETROIT-April 16, 2024-The Michigan Strategic Fund today approved a Transformational Brownfield Plan for a portion of the historic $3 billion Future of Health development slated for the New Center area of Detroit. The project is being developed by three anchor Michigan institutions - Henry Ford Health, Tom Gores and the Detroit Pistons, and Michigan State University.

Read the press release here.

Honigman is proud to serve as an advisor to the Detroit Pistons and the development team on the portion of the project approved today for funding that includes two new mixed-use, mixed-income residential buildings; an adaptive reuse of One Ford Place (current Henry Ford Health corporate headquarters) into mixed-use, mixed-income residential; the Henry Ford + MSU Medical Research Center; and a new East Campus Parking Garage.

Henry Ford Health, Tom Gores and the Detroit Pistons, and Michigan State University are investing over $3 billion over the next five years to turn a portion of Detroit's New Center neighborhood into a vibrant, walkable community with state-of-the-art residential, commercial, retail, recreational and health care components.

The development will be anchored by a reimagined Henry Ford Health academic healthcare campus, the highlight of which is a major expansion of Henry Ford Hospital including a brand new over one-million-square-foot patient tower incorporating a Shirley Ryan AbilityLab rehabilitation facility. It also includes a new, cutting-edge medical research facility for Henry Ford Health + Michigan State Health Sciences as part of Henry Ford Health's 30-year partnership with Michigan State University. The research facility will include the Nick Gilbert Neurofibromatosis Research Institute.

The plan provides a significant expansion of the shared campus of Henry Ford Health and the Detroit Pistons giving New Center a vibrant and dynamic urban neighborhood complete with increased lifestyle and entertainment amenities and programmable opportunities for all three organizations and Detroiters alike.

The Honigman team was led by partners Richard Barr, Michael Ben, Joel Krugel, Paul Mardirosian and Adam Rothstein.

About Honigman
Honigman is an Am Law 200 full-service, general business law firm with more than 350 attorneys in Chicago, Michigan (Ann Arbor, Bloomfield Hills, Detroit, Grand Rapids, Kalamazoo and Lansing), Washington, D.C. and its newest office in Israel (through its wholly owned subsidiary, Honigman Law Israel). Honigman lawyers counsel clients on complex issues in more than 60 areas of law. For more information, visit www.honigman.com.

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