Little Caesars Arena Construction of a new indoor arena in downtown Detroit began on April 24 , 2015 following a formal groundbreaking ceremony on September 25 , 2014 . The new arena , which will cost $ 450 million to construct , will succeed Joe Louis Arena as the home of the Detroit Red Wings of the National Hockey League . The arena , which will feature a unique , glass - roofed concourse connecting it to offices and shops surrounding it , and house at least 20 , 000 spectators , will anchor a new , $ 650 million , 650 , 000 square foot ( 60 , 000 square meters ) sports and entertainment district in downtown Detroit that will include mixed - use neighborhoods with new residential and retail outlets , located around the Cass Corridor , Ford Field , and Comerica Park . Design . The new Detroit arena will be designed by HOK , and feature a unique " deconstructed " layout . Buildings housing retail outlets , the arena ' s box office , and the offices of the Red Wings will be built outside the arena , but a glass roof will be erected between the buildings and the arena itself . The roof will form an indoor " street " that will serve as the arena ' s concourse . The concourse will remain open year - round , even if an event is not occurring inside the arena , allowing it to also be used as a venue of its own . The eight - story arena will be built as a bowl , with its ice surface 40 feet ( 12 meters ) below street level , and a projected seating capacity of at least 20 , 000 . Also planned is a 37 , 300 SQ . ft . ( 3 , 740 Sq . meter ) practice rink inside the arena . Graphics can be projected on the arena ' s roof , such as the Detroit Red Wings logo on game days , or other content depending on the event . Christopher Ilitch described the design of the new arena as being " revolutionary " , and believes that it may influence future arena designs in other cities . History . In May 2012 , it was reported that the Red Wings had hired HKS , Inc . and NBBJ to design a new arena for the team , which would replace the 33 year - old Joe Louis Arena as their home ice . Joe Louis Arena is owned by the City of Detroit and leased to Olympia Entertainment , a subsidiary of the Red Wings ' parent company , Ilitch Holdings , which has full operational control . In contrast , the new arena will be owned by the city ' s Downtown Development Authority and leased to Olympia ; as a result , sales of game tickets , parking , concessions , souvenirs , and any potential naming rights deals will no longer be subject to revenue sharing with the City of Detroit as they are with Joe Louis Arena . The city earned an average of $ 7 million per year through these revenue sharing agreements . In December 2012 , Olympia Entertainment officially announced its intention to develop a new district in downtown Detroit composed of offices , residential facilities , and " a new state - of - the - art , multi - purpose events center " , with an estimated cost of $ 650 million . In June 2013 , the Downtown Development Authority officially announced the location of the new Detroit Red Wings arena and entertainment district . On July 24 , 2013 , the Michigan Strategic Fund approved the Downtown Development Authority ' s request for $ 650 million in funding . $ 285 million of the $ 650 million cost will be public , with $ 365 . 5 million in private funding . The arena itself will cost $ 450 million . On July 20 , 2014 , Christopher Ilitch unveiled renderings of the new arena and entertainment district ; he explained that the project ' s goal was to " build out a sports and entertainment district that is world - class and rivals anything in the country , perhaps the world . " The district , which will compliment the M - 1 Rail Line , will primarily be built on vacant land near the Cass Corridor along Woodward Avenue , and will incorporate five distinct neighborhoods with new residential and apartment units and European - influenced designs . The district will also feature a hotel , new restaurants , and new retail outlets . Olympia Development will fund the refurbishment of public infrastructure around the arena district , such as street lighting , sidewalks , and paving . One of the neighborhoods , referred to by Ilitch as " Wildcat Corner " , will incorporate the area occupied by the Detroit Tigers ' and Detroit Lions ' home venues of Comerica Park and Ford Field , and replace several parking lots with new apartment complexes featuring street - level retail outlets . Ilitch emphasized the impact of the arena district project would have on Detroit ' s economy : the new facilities will result in 1 , 000 new jobs in the city , and 8 , 300 new jobs will be created for the construction process — Olympia Developments has committed to having 51 % of the construction jobs filled by residents of Detroit . Additionally , two Michigan - based contractors will be among those working on the arena , and 80 % of the materials used in the construction of the arena will also be sourced from Michigan - based companies when possible . A formal groundbreaking ceremony was held at the arena site on September 25 , 2014 . The arena is scheduled to be completed by the summer of 2017 . Following the completion of the new arena , Joe Louis Arena will be demolished , and its former site will be redeveloped into a hotel and retail complex . The sale of the Joe Louis Arena site comes as part of a bankruptcy settlement between the Financial Guaranty Insurance Company and the city of Detroit . On April 24 , 2015 , mass excavation at the arena site began a few days after Detroit City Council approved a zoning change , allowing vertical construction to officially commence . On June 10 , 2015 , the Detroit Historic District Commission approved the demolition of the Park Avenue Hotel to make room for what will be the arena ' s loading dock area . A demolition permit was issued on June 22 , 2015 . Detroit - based Adamo Demolition Co is the contractor listed on the permit . On February 9 , 2016 , Chris Ilitch announced that Olympia Entertainment had reached a naming rights deal for the new arena , and that its official name would be unveiled by April . It was speculated that one of the companies that was likely to had acquired the naming rights was Little Caesars , a pizza chain also owned by the Ilitch family . The next day , the " Detroit Free Press " reported that Olympia had registered " The Baddest Bowl " and " The Baddest Bowl in Hockey " as trademarks in relation to the new arena . On February 11 , it was reported that a local businessman had sold the domain name " littlecaesarsarena . com " three weeks earlier to an international brokerage firm for " five figures " , further implying that Little Caesars had acquired the naming rights . On April 28 , 2016 , Olympia Entertainment officially announced that Little Caesars had acquired the naming rights to the new arena , and that it would be known as Little Caesars Arena . It was also revealed that a large Little Caesars logo would be displayed on the arena ' s roof ; the previous plan for the LED roof was dismissed as being a " placeholder " . Chris Ilitch defended the decision of not selling the naming rights to a third - party company , arguing that it was meant to reflect Little Caesars ' position as a " legacy business " of the Ilitch family . Scheduled events . Sports . In addition to becoming the new home arena for the Red Wings , the new arena has either already been booked or is a contender for many other sporting events . Ice hockey . Olympia Entertainment CEO Tom Wilson described an intent for the new arena to be an " epicenter " for hockey , prospecting it as a site for events and tournaments at the college and junior levels such as the IIHF World Junior Championship and the Memorial Cup . Wilson also stated its commitment to continue hosting the annual collegiate Great Lakes Invitational at the new arena , provided the universities involved maintain their desire to participate . The Big Ten Men ' s Ice Hockey Tournament currently rotates in location between the Xcel Energy Center in Saint Paul , Minnesota ( 2014 and 2016 ) and Joe Louis Arena in Detroit ( 2015 and 2017 ) ; on the idea of hosting further editions at the new arena , Wilson stated that " we ' d love to host it every year , but I ' m not sure that ' s in the cards . It ' s good for us , it ' s good for everybody here in Detroit , but it ' s also great for the conference . " College basketball . In November 2014 , it was announced that the first and second rounds of the 2018 NCAA Men ' s Division I Basketball Championship would be held at the arena , hosted by the University of Detroit Mercy . Although the nearby Palace of Auburn Hills hosted preliminary rounds of the Tournament in 2013 ] , this will be the Tournament ' s first visit to Detroit since the city hosted the 2009 Final Four at Ford Field . On May 7 , 2015 , it was announced that the Horizon League Men ' s Basketball Tournament would be held in Detroit beginning in 2016 under a five - year deal . For 2016 and 2017 , it will be held at Joe Louis Arena , but the tournament is expected to move to the new arena beginning in 2018 .