Media everywhere has seemingly caught wind of the cyclone of attention, investor dollars and cool new projects popping up in neighborhoods like New Center and Woodbridge, including this dandy report in the Detroit Free Press over the weekend. Winning news: not only did foundations spend up to $250 million on development within city limits in 2010, but there's lots more to come in 2011. Much is discussed of Midtown's future, which currently holds a 92% rental occupancy rate.
Excerpt:
With the demand for housing on the rise, developers are in various stages of at least seven ambitious condo and apartment projects, most in ornate, historic buildings that had stood vacant for years. Since 2009, more than $425 million has been invested in building new housing, according to the UCCA.
Thousands of students who used to commute to WSU and CCS are moving within walking distance of classes because of the theaters, bars, restaurants and art galleries, officials from both schools said.
"Detroit is getting a reputation as a very lively, hot place to live," said Richard Rogers, CCS president. "People are gravitating here because they are finding a high quality of life."
We're lovin' it! Read the whole article
here.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.