Company threatens to tear down RenCen if taxpayers don’t contribute $250m in subsidies for renovation
General Motors is threatening to tear down Detroit’s tallest skyscraper currently housing the automaker’s headquarters if taxpayers don’t contribute $250m in subsidies for a renovation, a move that critics labeled “extortion” and has generated public outrage.
The riverfront building, called the RenCen, is the centerpiece of the skyline in the world’s auto capital. Development observers and the public have also panned the renovation plan in part because it calls for demolishing two of five office towers GM owns in the RenCen complex – they say the automaker could instead convert it to apartments, or find other uses.
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