Detroit RiverFront Conservancy Chairman Matt Cullen and his wife Karen Cullen have made a $4 million gift to the conservancy to support redevelopment of a 5.5 mile stretch of the city's west riverfront.

In recognition of the grant made through the Matthew and Karen Cullen Fund, the conservancy has renamed Rivard Plaza, the first of the three plazas along the Detroit RiverWalk to open on the east riverfront, the Cullen Plaza.

Located where the riverfront and Atwater Street meet, the plaza is home to a cafe, large play area for children and the Cullen Family Carousel featuring creatures that call the Detroit River home, including sturgeon, egrets and walleye, as well as the mythical River Mermaid and River Monster.

The conservancy was set to announce the gift from the couple at its annual Shimmer on the River event Thursday night, as they presented the Cullens with the Shimmer Award in recognition of their longtime commitment to revitalizing the Detroit riverfront.

Matt Cullen, CEO of Jack Entertainment and a principal of Rock Ventures, has been a driving force behind the transformation of Detroit's riverfront and the need for it to be accessible to the whole community since 2003.

Because of the couple's tremendous vision and selfless efforts, "we now have a beautiful riverfront that welcomes more than 3 million people from across our community every year and that is a catalyst for billions of dollars of economic development," Mark Wallace, president and CEO of the Detroit RiverFront Conservancy, said in a release.

As the permanent steward of the RiverWalk and the Dequindre Cut, the Detroit RiverFront Conservancy is charged with raising the funds needed for construction, operation, maintenance, security and programming of the public spaces located along the riverfront.

It's in the quiet stage of a $100 million-$150 million campaign that will include the money to redevelop 5.5 miles of the riverfront from Gabriel Richard Park to the Ambassador Bridge, beginning with West Riverfront Park, which will feature a variety of new attractions designed to bring people down to the riverfront.