A Billion For Belle Isle? Developer Wants To Turn The Island Into U.S. Commonwealth

DETROIT (WWJ) - A local developer has some big ideas for tiny Belle Isle. Rod Lockwood would like to see the island sold to private investors for one billion dollars so it can be turned in to a U.S. commonwealth or something similar, with its own laws and currency.

"Though it would become known as the 'Midwest Tiger' similar to Singapore being the Asian Tiger because of its low taxes and efficient government and freedom of personal responsibility," said Lockwood.

Lockwood wants to transform the island into an economic engine: "As far as the park goes - all the historic structures that are there right now would remain," said Lockwood. "We would plan on building a new park on the Detroit side, which would be very, very nice, right on the river - and have funds set aside for that," he said.

Lockwood admits the idea is a long shot and may take years to develop.

A select group of leaders hearing details on the plan Monday.