Larson was named nonexecutive president of Olympia Development of Michigan, Inc. effective immediately, said Christopher Ilitch, president and CEO of Detroit-based Ilitch Holdings Inc., in a Friday statement. Ilitch Holdings is an umbrella organization for various companies owned by Mike and Marian Ilitch.
Larson will be “actively involved in our organization’s economic development activities throughout downtown Detroit and beyond,” according to the news statement.
Larson has been involved in more than $3 billion worth of real estate deals, according to the website for Larson Realty Group. That includes General Motors Co.’s purchase and redevelopment of the Renaissance Center, the development of One Detroit Center and the A. Alfred Taubman Center for Design Education in Detroit.
Larson’s appointment comes as Detroit Red Wings owner Mike Ilitch has pledged to build a new arena downtown to replace the 35-year-old Joe Louis Arena, which is owned by the city of Detroit. The Wings and the city are still negotiating an extension of the team’s lease at Joe Louis.
Larson succeeds Atanas Ilitch, who stepped down from the position earlier this year to pursue personal business interests. Larson joins the organization as an executive real estate consultant, and he will be allowed to maintain his private real estate firm, Larson Realty Group in Bloomfield Hills.
“We are pleased that Eric will oversee our Olympia Development team,” Christopher Ilitch said in the statement. “Eric can make an immediate and significant impact on our organization. His experience in all aspects of real estate development and investment will greatly enhance our operations. And his strong relationships and knowledge of the Detroit community and local market will certainly be a plus in this role.”
Larson has an extensive record of civic involvement, including serving as chairman of The Urban Land Institute Detroit Governance Committee and Detroit Downtown Partnership. He has been active with The Detroit Parade Co., the Detroit Regional Chamber, Detroit Economic Growth Corp., Detroit Historical Society and other organizations.
Larson also is founder and president of the Community Investment Support Fund, a nonprofit that promotes economic development and investment in support of community revitalization and the nonprofit sector.
laguilar@detnews.com
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