Overview
The Detroit Riverfront Conservancy, incorporated as a 501(c)(3) organization, helped raise funds for the International Riverfront project. Developers planned the initial east riverfront promenade investment at $559 million, which included contributions of $135 million from GM and $50 million from the Kresge foundation.
The development marked a step toward the city's potential bid for the 2020 Summer Olympics. Detroit has made the Summer Olympic Games' final bidding election more often than any other ultimately unsuccessful bid city, participating in IOC elections for the 1944 (3rd place, behind bid winner London), 1952 (5th place), 1956 (4th place), 1960 (3rd place), 1964 (2nd place), 1968 (2nd place) and 1972 (4th place) Games. (Los Angeles has made more total bids with nine, but hosted twice) If accepted as the U.S. candidate by USOC, this would be the city's eighth bid. Lowered crime figures improve Detroit's prospects for the USOC competition. Soft-drink manufacturer Faygo has stepped up its efforts as major sponsor. Successful events such as Super Bowl XL have showcased Detroit as a city accustomed to hosting supersized crowds.
The area contains the Detroit River International Wildlife Refuge which is the only international wildlife preserve in North America, uniquely located in the heart of a major metropolitan area. The Refuge includes islands, coastal wetlands, marshes, shoals, and waterfront lands along 48 miles (77 km) of the Detroit River and Western Lake Erie shoreline.
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