In a report released Wednesday to attendees of Detroit Homecoming, which is produced by Crain's Detroit Business, the nonprofit organization says the new development totals at least $2.12 billion, ranging from residential, office, institutional and hospitality space under construction or that has finished being built recently.

Eric Larson, CEO of the DDP, said Tuesday that many of the downtown core's existing historic buildings have been rehabbed and new construction is underway, making the development climate seem busier than in recent years.

He also said although a pair of billionaires — Dan Gilbert and the Ilitch family — have been responsible for much of the new development, other smaller developers have been able to pull off projects in and around downtown.

The construction report says there is about 1.53 million square feet of residential space ($421.3 million), 3.14 million square feet of office ($1.27 billion), 127,000 square feet of so-called "institutional" space ($71 million) and about 150,000 square feet of hospitality space ($358 million) in the development pipeline, which can be visualized in a three-dimensional interactive map the DDP developed for its website.

The tally includes everything ranging from possible skyscrapers to small office rehabilitation projects in the downtown core. The institutional space is the Detroit Medical Center Sports Medicine Institute under development by the Ilitch family's Olympia Development of Michigan.

"Detroit has reached a critical point in the city's development with countless exciting projects and initiatives unfolding," Andra Rush, founder, chair and CEO of Rush Group LLC, said in a statement. She is moderating a stakeholder panel next week when the report is formally unveiled Sept. 24 at the Westin Book Cadillac Detroit hotel.

The development environment hasn't been without its challenges. Projects are regularly delayed by things ranging from financing snags to worker shortages driving up construction costs, among others.

Gilbert's Bedrock LLC has hit bumps in its planned Monroe Blocks project that is slated to fill in a 3.66-acre site downtown and the under-construction development on the site of the former J.L. Hudson's department store has featured a rollercoaster of design changes and programming shifts.

The Ilitches have been slow to develop the area they call the District Detroit, which more than five years ago was billed as an incoming entertainment district with apartments, retail, office, restaurant and bar space spanning 45 to 50 blocks. To date, much of that development hasn't occurred.

Some projects, like a condo development that ultimately turned into a hotel, have done a 180 and others have been abandoned entirely, like Adient plc's headquarters relocation downtown.