Sale of Detroit-owned properties for bridge to bring in $48M

Markets Associated Press

Detroit says the sale of city-owned properties as part of plans for new bridge connecting the U.S. and Canada will bring in $48 million.

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Mayor Mike Duggan on Friday announced an agreement with the state to sell 36 parcels of land, underground assets and about 5 miles (8 kilometers) of streets for the Gordie Howe International Bridge. The Canadian-financed bridge is scheduled to open in 2020.

Detroit plans to use the money for neighborhood redevelopment, job training and health monitoring for Detroit residents.

The mayor's office says $33 million will go to a neighborhood improvement fund to assist more than 450 Detroit families who live near the bridge project. They will get the option to stay in their current homes or swap a home for one elsewhere in the city.