What Downtown Development Means for Detroit
A preliminary picture of the new Detroit is coming into focus, while much of the city still struggles with vacancies and blight and downtown anticipates a wave of development and new residents.
John Gallagher and JC Rendl provide ongoing coverage of the oncoming wave of development in downtown Detroit.
After an earlier article focused on a collection of expected redevelopment projects, the current article looks at the larger effects of the wave of residential development expected for downtown Detroit.
For instance, "[d]uring the year, landlords raised rents as much as 15% in the Brush Park district, 14% in New Center and 10% in the areas around Wayne State University and the Detroit Medical Center, according to a Midtown Detroit survey."
The article includes more commentary about the state of the market and what it means for downtown as well as surrounding neighborhoods and the city as a whole.
Published on Sunday, January 3, 2016 in
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