Shad Khan Isn't The Only One!

March 26, 2015 17 comments Open printer friendly version of this article Print Article

Jacksonville Jag’s owner Shad Khan, and his company Iguana Investments, are proposing plans for a major to the Jacksonville shipyards. Khan’s money would transform the 48-cre lot on the downtown riverfront into a vibrant entertainment and leisure district. However, Khan isn’t the first of his kind. What follows is a brief list of other major profession sport team owners who have invested in large scale urban redevelopment projects, too.

Dan Gilbert
Team: NBA's Cleveland Cavaliers
Development: Downtown Detroit

Owner of the Cleveland Cavaliers, Dan Gilbert, is trying to revitalize the heart of downtown Detroit. A native to the area, Gilbert has big plans for the area.

Gilbert has spent $1 billion on nearly four million square feet of real estate for the project. Gilbert and his real estate company, Bedrock Real Estate Services, are also renovating old properties and working on the plans for a light rail system in the area. Gilbert also hopes to create lots of outdoor seating as well as ground-level retail strips. The hope is to attract young entrepreneurs and turn Detroit into a high-tech hub.

It is being said that Gilbert’s project, “Opportunity Detroit,” is one of the most ambitious, privately financed urban reclaim projects in history.

Courtesy of the Detroit Free Press

Article by Kristen Pickrell

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