Why every city could benefit from billionaire urbanism

Bedrock, a real estate developer founded and chaired by billionaire Dan Gilbert, has been working for over a decade to revitalize Detroit, with the recent unveiling of Hudson's Detroit marking a significant milestone. This 1.5 million-square-foot development, which includes office space, retail, an event venue, and planned hotel and residences, is designed to attract talented young professionals and retain existing residents. Jared Fleisher, president of Bedrock since August 2025, views the city as a product that must appeal to its target customers, specifically young, talented individuals who are crucial to the modern economy. Gilbert, whose Rock conglomerate also owns Rocket Mortgage and the Cleveland Cavaliers, relocated Rocket Mortgage from the Detroit suburbs to the city in 2010, underscoring his commitment to Detroit's urban renewal. The strategy behind Hudson's Detroit and Bedrock's broader efforts is to create an appealing urban environment that fosters economic growth and community.