A new nonprofit will redevelop, own and operate the landmark and surrounding east riverfront district, with all surplus proceeds invested in the community

DETROIT, Oct. 19, 2026 /PRNewswire/ — Dan Gilbert, founder and chairman of Rocket Companies and Bedrock, today pledged approximately $1 billion in development capital to form a new nonprofit organization that will redevelop, own and operate the Renaissance Center and surrounding east riverfront district.

As a result of this philanthropic gift, believed to be the largest contribution to a non-profit redevelopment initiative in the history of American cities, Gilbert and his companies will receive no profits from the redevelopment of the Renaissance Center and 35-acre waterfront district. Gilbert’s contribution will not be repaid.

The nonprofit will develop, own and operate the property for civic betterment, guided by the dual missions of community benefit and long-term sustainability. After completion of the project, revenue will first cover operating expenses, debt payments, reserves and necessary reinvestment in the properties over time. Any surplus funds will go to support Detroiters and the community.

“The Renaissance Center is a symbol of Detroit, and the riverfront is one of Detroit’s most treasured assets,” said Gilbert. “We all share the goals of bringing new life to the Renaissance Center, of building a thriving riverfront district for all to enjoy, and of maximizing positive community impact. I cannot think of better way to accomplish these goals than through a nonprofit organization dedicated to this mission in perpetuity.” 

This new pledge builds on Gilbert’s long history of philanthropic support for Detroit.

In 2021, the Gilbert Family Foundation and Rocket Community Fund announced a $500 million, 10-year commitment to strengthen Detroit neighborhoods. Through the end of 2025, the organizations have invested more than $100 million in housing stability, including efforts to prevent foreclosure and eviction, repair homes and expand homeownership. Another $183 million has been invested to support small businesses, expand economic opportunity, and support neighborhood parks, the arts and community spaces. Together, the organizations have invested nearly $300 million of the initial commitment, putting them ahead of pace toward their goal.

In 2023, Gilbert Family Foundation committed nearly $375 million to bring Shirley Ryan AbilityLab, the top rehabilitative care center in the nation, to Detroit and to establish the Nick Gilbert Neurofibromatosis Research Institute. These projects are part of Henry Ford Health’s Future of Health, a transformational campus expansion in Detroit’s New Center neighborhood. In addition to these philanthropic gifts, his family office, ROCK, has invested millions in Detroit and Cleveland.

This new organization will extend Gilbert’s philanthropic commitments to Detroit’s waterfront. The vision includes transforming the Renaissance Center and surrounding 35-acre district, now consisting largely of surface parking lots, into the best, broadly accessible, family-friendly waterfront destination in the country—providing a series of new amenities for Detroiters and creating a new engine of tourism and growth for the city. The redevelopment will include affordable housing, dedicated space for Detroit-based small businesses, and 18-acres of programmed and publicly accessible civic space. It is anticipated to create more than 8,000 local construction jobs and 2,600 permanent jobs. The 30-year direct fiscal benefit to the City of Detroit is estimated to be $301.5 million, and on top of that, the district is anticipated to generate $3.03 billion in new visitor spend for the city over the same period. 

“What Dan Gilbert is announcing today is truly historic,” said Detroit Mayor Mary Sheffield. “This was already the largest, most transformative investment ever pledged in Detroit and one of the largest ever in any American city. For Dan to make a billion-dollar investment – and to guarantee that only the city and its people can benefit – truly shows the depth of his generosity and of his commitment to Detroit.”

The nonprofit will be structured as a 501(c)(4) social welfare organization focused on civic improvement and community well-being. Reverend Dr. Wendell Anthony, president of the Detroit Branch of the NAACP, will serve on the inaugural Board of Directors and help lead recruitment of a diverse and experienced board to oversee the nonprofit. Bill Emerson, former CEO of Rocket Companies and member of several of the region’s most prominent non-profit boards, will also serve on the board to help lead the organization through its formative stages.

Bedrock will provide project management services to the nonprofit at no cost, bringing its expertise and continuity to the redevelopment project.

“The day has come and a new era has begun. The Iconic Renaissance Center will serve as a historic marker now reimagined and reinvented into what I like to call Renaissance II,” said Reverend Dr. Anthony.  This is a historic, unprecedented and never before witnessed in any community pledge that has now been made. Dan Gilbert is openly establishing a new model for community development not only for Detroit but for cities across the nation. This is a true legacy cemented in the soil of Detroit by a true Philanthropist.”

The announcement builds on General Motors’ 2024 commitment to donate any profits it receives from the redevelopment toward education in Detroit. Additional details about the nonprofit will be announced as further steps are taken in its formation. Contributions to 501(c)(4) organizations are not deductible as charitable contributions for federal income tax purposes.

“Dan Gilbert has played an essential role in the continued revitalization of Detroit and its downtown, and this new organization is the latest example of his deep and lasting commitment to our city,” said General Motors President Mark Reuss. “It will build upon the progress GM has already made in helping create the #1 ranked riverwalk in the nation and will set up the east riverfront for long-term success to be enjoyed by citizens and visitors alike for generations to come.”

About the Renaissance Center and East Riverfront Project

The redevelopment of the iconic Renaissance Center represents of the most complex and consequential adaptive reuse projects ever undertaken, combined with one of the nation’s most ambitious community-driven waterfront redevelopment initiatives. The $2.2 billion development plan includes the reimagination of the Renaissance Center and the comprehensive transformation of the 35-acre east riverfront district, consisting primarily of vacant surface parking lots, with the goal of creating the best, broadly accessible, family-friendly waterfront destination in the country. More information about the Renaissance Center and east riverfront project may be found at DRF.dev.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dan-gilbert-makes-historic-gift-to-detroit-pledges-1-billion-to-create-new-nonprofit-to-transform-detroits-renaissance-center-and-east-riverfront-302912867.html

SOURCE ROCK

A new nonprofit will redevelop, own and operate the landmark and surrounding east riverfront district, with all surplus proceeds invested in the community

DETROIT, Oct. 19, 2026 /PRNewswire/ — Dan Gilbert, founder and chairman of Rocket Companies and Bedrock, today pledged approximately $1 billion in development capital to form a new nonprofit organization that will redevelop, own and operate the Renaissance Center and surrounding east riverfront district.

As a result of this philanthropic gift, believed to be the largest contribution to a non-profit redevelopment initiative in the history of American cities, Gilbert and his companies will receive no profits from the redevelopment of the Renaissance Center and 35-acre waterfront district. Gilbert’s contribution will not be repaid.

The nonprofit will develop, own and operate the property for civic betterment, guided by the dual missions of community benefit and long-term sustainability. After completion of the project, revenue will first cover operating expenses, debt payments, reserves and necessary reinvestment in the properties over time. Any surplus funds will go to support Detroiters and the community.

“The Renaissance Center is a symbol of Detroit, and the riverfront is one of Detroit’s most treasured assets,” said Gilbert. “We all share the goals of bringing new life to the Renaissance Center, of building a thriving riverfront district for all to enjoy, and of maximizing positive community impact. I cannot think of better way to accomplish these goals than through a nonprofit organization dedicated to this mission in perpetuity.” 

This new pledge builds on Gilbert’s long history of philanthropic support for Detroit.

In 2021, the Gilbert Family Foundation and Rocket Community Fund announced a $500 million, 10-year commitment to strengthen Detroit neighborhoods. Through the end of 2025, the organizations have invested more than $100 million in housing stability, including efforts to prevent foreclosure and eviction, repair homes and expand homeownership. Another $183 million has been invested to support small businesses, expand economic opportunity, and support neighborhood parks, the arts and community spaces. Together, the organizations have invested nearly $300 million of the initial commitment, putting them ahead of pace toward their goal.

In 2023, Gilbert Family Foundation committed nearly $375 million to bring Shirley Ryan AbilityLab, the top rehabilitative care center in the nation, to Detroit and to establish the Nick Gilbert Neurofibromatosis Research Institute. These projects are part of Henry Ford Health’s Future of Health, a transformational campus expansion in Detroit’s New Center neighborhood. In addition to these philanthropic gifts, his family office, ROCK, has invested millions in Detroit and Cleveland.

This new organization will extend Gilbert’s philanthropic commitments to Detroit’s waterfront. The vision includes transforming the Renaissance Center and surrounding 35-acre district, now consisting largely of surface parking lots, into the best, broadly accessible, family-friendly waterfront destination in the country—providing a series of new amenities for Detroiters and creating a new engine of tourism and growth for the city. The redevelopment will include affordable housing, dedicated space for Detroit-based small businesses, and 18-acres of programmed and publicly accessible civic space. It is anticipated to create more than 8,000 local construction jobs and 2,600 permanent jobs. The 30-year direct fiscal benefit to the City of Detroit is estimated to be $301.5 million, and on top of that, the district is anticipated to generate $3.03 billion in new visitor spend for the city over the same period. 

“What Dan Gilbert is announcing today is truly historic,” said Detroit Mayor Mary Sheffield. “This was already the largest, most transformative investment ever pledged in Detroit and one of the largest ever in any American city. For Dan to make a billion-dollar investment – and to guarantee that only the city and its people can benefit – truly shows the depth of his generosity and of his commitment to Detroit.”

The nonprofit will be structured as a 501(c)(4) social welfare organization focused on civic improvement and community well-being. Reverend Dr. Wendell Anthony, president of the Detroit Branch of the NAACP, will serve on the inaugural Board of Directors and help lead recruitment of a diverse and experienced board to oversee the nonprofit. Bill Emerson, former CEO of Rocket Companies and member of several of the region’s most prominent non-profit boards, will also serve on the board to help lead the organization through its formative stages.

Bedrock will provide project management services to the nonprofit at no cost, bringing its expertise and continuity to the redevelopment project.

“The day has come and a new era has begun. The Iconic Renaissance Center will serve as a historic marker now reimagined and reinvented into what I like to call Renaissance II,” said Reverend Dr. Anthony.  This is a historic, unprecedented and never before witnessed in any community pledge that has now been made. Dan Gilbert is openly establishing a new model for community development not only for Detroit but for cities across the nation. This is a true legacy cemented in the soil of Detroit by a true Philanthropist.”

The announcement builds on General Motors’ 2024 commitment to donate any profits it receives from the redevelopment toward education in Detroit. Additional details about the nonprofit will be announced as further steps are taken in its formation. Contributions to 501(c)(4) organizations are not deductible as charitable contributions for federal income tax purposes.

“Dan Gilbert has played an essential role in the continued revitalization of Detroit and its downtown, and this new organization is the latest example of his deep and lasting commitment to our city,” said General Motors President Mark Reuss. “It will build upon the progress GM has already made in helping create the #1 ranked riverwalk in the nation and will set up the east riverfront for long-term success to be enjoyed by citizens and visitors alike for generations to come.”

About the Renaissance Center and East Riverfront Project

The redevelopment of the iconic Renaissance Center represents of the most complex and consequential adaptive reuse projects ever undertaken, combined with one of the nation’s most ambitious community-driven waterfront redevelopment initiatives. The $2.2 billion development plan includes the reimagination of the Renaissance Center and the comprehensive transformation of the 35-acre east riverfront district, consisting primarily of vacant surface parking lots, with the goal of creating the best, broadly accessible, family-friendly waterfront destination in the country. More information about the Renaissance Center and east riverfront project may be found at DRF.dev.

View original content to download multimedia:https://www.prnewswire.com/news-releases/dan-gilbert-makes-historic-gift-to-detroit-pledges-1-billion-to-create-new-nonprofit-to-transform-detroits-renaissance-center-and-east-riverfront-302912867.html

SOURCE ROCK

TilePix’s first-ever in-store launch introduces new TilePix frame sizes and the Super Nail hanging solution, alongside the Walmart-exclusive 6×6 TilePix Mini launch

NEW YORK, Oct. 19, 2026 /PRNewswire/ — TilePix, the magnetic, nail-free wall décor brand, today announces its first nationwide in-store product launch at Walmart. Now rolling out on Walmart.com and in select stores across the U.S., the expanded assortment of TilePix wall décor and hanging products begin hitting shelves on October 19th, with the full in-store rollout expected to be complete by the end of October. The launch marks a major expansion of TilePix’s retail presence.

The launch brings three new additions to Walmart shoppers:

TilePix blank magnetic frames in 8×10, 11×14 and 12×12 sizesThe Super Nail by TilePix, a new universal nail-free hanging solution for frames up to three poundsThe TilePix Mini, a new Walmart-exclusive 6×6 magnetic photo tile

For the first time, Walmart customers can purchase TilePix’s new 8×10, 11×14 and 12×12 blank magnetic frames on store shelves in addition to the online assortment to open and add their own photos, artwork or designs. Customers can even print photos through Walmart Photo and create a custom gallery wall in one trip. Each frame uses TilePix’s magnetic backers, allowing consumers to peel, stick and hang TilePix frames without nails, tools or wall damage. As always, the brand’s re-stickable magnetic wall pads make TilePix easy to move, swap and rearrange. The new blank frames also all come with a built-in kickstand, giving consumers the option to display each frame on a wall or tabletop.

Also making its debut at Walmart is The Super Nail by TilePix, a universal nail-free hanging solution designed to hold virtually any small picture frame or lightweight wall art up to three pounds. TilePix’s Super Nail attaches to the wall through a peel-and-stick application and features an adjustable hanger that lets users shift frame placement without starting over. Its slim design stays hidden behind the frame, giving consumers the flexibility to straighten, reposition and restyle their wall décor without traditional nails or tools. Available in one or two-pack options, the Super Nail brings the innovation behind TilePix’s traditional frames to any frame 3 pounds or lighter.

Finally, this month, TilePix introduces its smallest frame yet, the TilePix Mini is a 6×6 photo tile, hung nail-free with magnets, available exclusively at Walmart. The smaller format brings the flexibility of TilePix to a new scale, making it easy to turn favorite photos and memories into nail-free wall displays in bedrooms, dorms, apartments, kids’ rooms and smaller spaces.

“This nationwide expansion with Walmart marks a pivotal moment for Tracer as we evolve TilePix from a standalone magnetic tile into a full nail-free wall décor ecosystem,” says Tracer Imaging CEO and Founder Steven Spiro. “Whether framing a print, hanging existing art with the Super Nail, or styling a space with the new TilePix Mini, we are eliminating the friction of traditional home décor and making personalized design accessible to everyone.”

The Walmart expansion comes ahead of the 2026 holiday season, giving shoppers new ways to personalize their homes and gift their favorite memories. TilePix will support the launch with a holiday campaign centered on DIY creativity, product education and style-driven inspiration, showing how consumers can use the new assortment to make their walls feel more personal without making their decorating decisions permanent.

The Walmart launch marks a major next step for TilePix: not only is the brand available at retail, but it’s moving beyond its original magnetic photo tiles and into a broader ecosystem of flexible wall décor and hanging solutions. Whether consumers are creating a personalized gallery wall with TilePix frames, hanging an existing frame with the Super Nail or building a display with the new TilePix Mini, each product is designed around the same idea: your walls should be as easy to change as your style.

Beginning October 19th, TilePix 8×10, 11×14 and 12×12 blank magnetic frames and TilePix Super Nail will be available on shelves at more than 3,000 Walmart stores nationwide. The TilePix Mini, the new Walmart-exclusive 6×6 magnetic photo tile, will be available through Walmart.com and on in-store kiosks for shipping and in-store pickup.

For more information, visit Walmart’s dedicated TilePix page HERE.

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Instagram: @tile.pix @walmart
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MEDIA CONTACTS:
Sabrina Levine Communications
Nicole Waldman | nicole@sabrinalevinepr.com | (805) 404-8152
Maxie Katsikas | maxie@sabrinalevinepr.com | (917) 991-3750

ABOUT TILEPIX
TilePix is a wall décor brand making it easier to personalize, hang and rearrange walls without nails, tools or damage. Launched in 2022, TilePix is best known for its patented magnetic hanging system, which allows consumers to peel, stick, hang and rearrange their wall décor as their spaces and styles change.

TilePix offers customizable photo tiles, magnetic frames and other wall décor products designed to make decorating more flexible and personal. The brand also partners with artists and designers, including Jonathan Adler, to bring curated artwork to its growing wall décor assortment.

TilePix is a brand of Tracer Imaging, a photo and printing company with more than 20 years of experience developing products and technology for major retailers.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tilepix-expands-into-select-walmart-stores-nationwide-with-new-nail-free-wall-decor-frames–accessories-302912883.html

SOURCE TilePix