Kofi Bonner’s time at the helm of Bedrock, one of Detroit’s most powerful real estate development firms, is coming to a close. After five years as CEO, Bonner will retire at the end of 2025, closing a chapter that reshaped Detroit’s economic and cultural landscape during a period marked by both disruption and resurgence.
Bedrock confirmed the leadership transition on Friday, Aug. 1, in a companywide email and a press release. Jared Fleisher, currently Vice President at ROCK—the Gilbert family office—will join Bedrock immediately as President and is slated to assume the role of CEO after Bonner’s departure.
Bonner took on the CEO role in August 2020, just as the COVID-19 pandemic was paralyzing cities nationwide. Downtown Detroit had emptied. Development momentum had slowed. Small businesses were in survival mode. Bonner was tasked with steering one of the city’s most visible corporate entities through economic uncertainty. In that time, he oversaw a slate of high-impact commercial developments and cultural investments that helped reanimate the core of the city.
“It has been an honor to lead Bedrock through such an important time in its history,” Bonner said in a statement. “Bedrock is no ordinary real estate company. Rather, it is the embodiment of Dan Gilbert’s extraordinary commitment to uplift two great American cities.”
That vision, backed by scale and capital, translated into more than construction projects. Bonner’s leadership was visible across Detroit’s downtown and Midtown footprint—from the Hudson’s Building and Book Tower to the events, installations, and partnerships that filled public spaces and brought national attention back to the city.
During Bonner’s tenure, Bedrock became a key player in the successful effort to bring the NFL Draft to Detroit — the largest sporting events to land in the city in recent years. The event brought a measurable spike in hotel bookings, retail sales, and national media exposure. It was one of several economic wins under Bonner’s watch that combined city branding with commercial benefit.
His impact also extended to shaping culture. Bonner helped Bedrock support events like Afro Nation and AfroFuture, signaling a deliberate shift toward centering Black cultural programming in Detroit’s downtown narrative. These events drew international audiences and elevated Detroit’s reputation as a city with a global Black identity—not just a backdrop for business deals.
Bonner’s tenure also included the installation of Monroe Street Midway, a reimagined public space activated with roller skating, murals, food trucks, and local vendors. It turned an otherwise static stretch of downtown into a walkable, usable space for residents and visitors alike. Projects like this reflected an evolving understanding that community use must be part of development strategy—not an afterthought.
Dan Gilbert, Founder and Chairman of Bedrock, said Bonner stepped into the CEO role at a critical time.
“When Kofi arrived, we were in the midst of the COVID pandemic. Residents were staying home, the streets were empty, and the future was anything but certain,” Gilbert said. “Today, Detroit and Cleveland’s urban cores are models of revitalization. Detroit is consistently being ranked a top place to visit. Book Tower has been named one of the world’s most beautiful repurposed buildings. Hudson’s Detroit has redefined the skyline. Cleveland’s riverfront is actively being transformed.”
Since 2011, Bedrock has invested and committed more than $7.5 billion across Detroit and Cleveland. That includes development and restoration of over 140 properties—totaling more than 21 million square feet of office, retail, residential, hospitality, industrial, and data center space. In 2024, Fast Company named Bedrock one of the World’s Most Innovative Companies.
The scale of that portfolio makes Bedrock one of the most influential urban real estate developers in the country. Bonner’s role, as CEO, was not just operational—it was strategic. He was responsible for guiding how that influence was used in the context of Detroit’s long-standing economic and racial disparities. Whether Bedrock succeeded in balancing private development with public benefit remains a live conversation among residents, many of whom continue to push for deeper inclusion and accountability.
Still, Bonner’s tenure marked a shift toward cultural visibility. Events, installations, and restored landmarks reflected an understanding that Detroit’s growth narrative had to acknowledge its people and its history—not just its skyline. Projects like Book Tower, which reopened as a mixed-use hub with hospitality, retail, and residential space, were celebrated for both design and for signaling a return of investment to architectural icons once left behind.
Bonner stated that his intention was to stabilize and reposition Bedrock through the pandemic and into its next phase.
“My goal in joining Bedrock was to usher the company through a period of great disruption and lay the foundation for its next frontiers—from the entertainment district at Cadillac Square, to the innovation district on the Gratiot Site, and of course, along the Detroit and Cleveland riverfronts,” he said. “Because of the talent and dedication of Bedrock’s team members, we have accomplished more than I could have imagined.”
Jared Fleisher, who will assume the role of CEO at the end of the year, is already familiar with Gilbert’s broader portfolio. In his role at ROCK, he served as senior advisor to Gilbert on commercial real estate and economic development strategy. Fleisher has worked with Gilbert’s companies for over 15 years and brings continuity in mission, though it remains to be seen whether his leadership will maintain the same cultural fluency that Bonner brought to the role.
Kofi Bonner’s career has long reflected a vision for building thriving urban centers through transformational development, strategic public-private partnerships, and intentional support for small businesses at the local level. Before leading Bedrock, Bonner brought that commitment to cities across the globe, from real estate ventures in the San Francisco Bay Area to tech-driven development initiatives in Ghana. He invested in fintech platforms like BC Pay and Techgulf, with the latter focused on expanding technology infrastructure and services in West Africa. Bonner made history as the first African American to serve as executive vice president and chief administrative officer for the Cleveland Browns, a groundbreaking role in the NFL’s executive ranks. His early public service roles in California—including chief economic advisor to San Francisco Mayor Willie Brown, redevelopment director for Emeryville, and affordable housing developer in Oakland—laid the foundation for a career shaped by economic inclusion and city planning. He holds master’s degrees in both City Planning and Architecture from the University of California, Berkeley. As Bonner prepares to step down, Bedrock’s incoming CEO Jared Fleisher brings deep policy experience at both the state and federal level. Fleisher has helped shape nearly every major economic development bill in Michigan over the past decade, including the Strategic Site Readiness Program. He also brings legal and infrastructure expertise from his time in Washington, D.C., and holds degrees from Harvard College and Harvard Law School. A Los Angeles native now based in Detroit, Fleisher represents a continuation of Bedrock’s national reach with a focus on local impact.
As Detroit continues to navigate population loss, housing equity, and small business growth, Bedrock’s next phase will be tested on its ability to operate as more than a private development firm. Residents, particularly in neighborhoods adjacent to downtown, continue to voice concerns about gentrification, displacement, and access. They want clarity on how revitalization is defined and who stands to benefit.
As 2025 winds down, Detroit’s development conversation enters another pivotal phase. With the Hudson’s Building nearing completion, the Cadillac Square entertainment district moving forward, and the riverfront innovation corridor in early stages, the next wave of leadership will be responsible for proving that revitalization can mean shared prosperity.
Bonner’s departure marks the end of a five-year period defined by both high-stakes recovery and accelerated growth. What follows will determine whether Detroit’s future continues to be shaped by those invested in its people—not just its property lines.
