Cleveland Cavaliers owner Dan Gilbert pledges $500 million to revitalize hometown of Detroit
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CLEVELAND, Ohio (WOIO) - In a rare public appearance since his stroke in 2019, Cleveland Cavaliers owner Dan Gilbert made an announcement regarding a significant investment into his hometown.
While speaking with CBS News, Gilbert said he is helping to fund a $500 million initiative to rebuild neighborhoods in the city of Detroit.
A large portion, expected to cover about 20,000 residents, will be used to relieve homeowners experiencing delinquent property taxes.
“It was very clear to us that it was property taxes that caused the majority of the blight in Detroit, and the vast majority of citizens at one point were in tax foreclosure,” Gilbert said.
Regarding his stroke, Gilbert acknowledged it is still a long road to recovery.
“I’m feeling good, getting better. It’s like an inch a day,” the founder of Quicken Loans said.
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