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Rendering of the Ilitch School of Business and the site on Friday, July 15. Daily Detroit photo merged with courtesy rendering.

Back in October there was an announcement about a new business school building for the Mike Ilitch School of Business – well, on Wednesday, the actual work is getting underway.

To be located at the corner of Temple and Woodward, right next to the new Little Caesars Arena, the school of business. The $50 million complex, according to Wayne State, “will serve more than 3,000 undergraduate and graduate students, provide new flexible teaching, research, office and community spaces for students and faculty bringing WSU’s outstanding business programs closer to the market.”

The $40 million gift will be broken up into two parts – $35 million for the building, and $5 million for an endowment for the school itself.

The finished building will be 120,000 square feet, and back in October, Wayne State said the gift from Ilitch was the largest in the history of the university.

Renderings also tease a giant Shinola tower clock, which would be a larger installation than the now-familiar Shinola street clocks around town, but there’s no hard confirmation on that being the final plan.

This continues to extend the footprint of the WSU campus, and will be on Ilitch-owned land that will be leased to the university for a token amount as part of the District Detroit.

The groundbreaking will be on Wednesday, July 20 with the project expected to be complete in 2018. More renderings below.

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