DETROIT — New business ventures are reshaping downtown Detroit, most of which are headed by either Mike Ilitch or Dan Gilbert. 

The Ilitch family owns the popular pizza chain Little Caesars, The Detroit Red Wings and the Detroit Tigers. Gilbert is widely known as the chairman and founder of Rock Ventures and the mortgage lender Quicken Loans.  However, both are involved in other major Detroit-based companies. 

Some of these new business ventures have led to people coining the terms  “Gilbertville” and “Ilitchville”, to refer to the two billionaires’ ownership of some of the city’s major assets. 

The Ilitch family recently announced a $650 million redevelopment plan, including a new Red Wings hockey arena and entertainment district. 

Gilbert has also drawn a lot of attention recently, because he’s been buying up several vacant buildings and has plans to get businesses to begin operating inside of them. 

Last year, Gilbert purchased the troubled Greektown Casino Hotel. This year he bought the Detroit Media Partnership Building (home of the Detroit Free Press and Detroit News) at  615 W. Lafayette (he was outbid on the old Detroit Free Press Building at 321 W. Lafayette last year). He now owns about 60 properties in downtown Detroit.