Woodbridge Estates sales steady, reflect trend in Detroit real estate

Urban living certainly attracted C. Morgan Houston and her husband,
Lorenzo, who paid about $300,000 for a home in Woodbridge Estates more
than a year ago.

“We are two minutes from everything that’s happening in Detroit,” she
said. “We just came from the DSO the other night. We go to the
different theaters, hot restaurants all up and down. It is great. My
feet don’t even have time to hurt.”

Michael Dunne, a Seattle-based investor, said Detroit’s somewhat
belated entry into the urban-living trend enticed him to bankroll
several projects in the city done by Detroit developer Dwight Belyue,
including the @water Lofts condominium project expected to break
ground on the east riverfront in the spring.

“I saw it in Seattle in the ’80s, and I thought the developers were
crazy,” Belyue said last week. “Detroit may be the last big city to go
through that, but it’s just following the country. Having seen it, I’m
a believer.”

Read the entire article here.