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Posted 02 April 2015 - 11:22 PM
Posted 03 May 2015 - 05:45 AM
(Post-bankruptcy: Is Detroit now... Saved? "Saved" by its own bankruptcy?)
TAKING BACK DETROIT (an article in the May 2015 National Geographic)
With the nation's biggest bankruptcy in the rearview mirror, the Motor City and birthplace of Motown
finds itself suddenly cool again. Tough, real, and cheap, it has plenty of space to fuel any imagination
. . .
In less than five decades the once vibrant Motor City lost more than half its population and gained a reputation as a failed metropolis of abandoned buildings, widespread poverty and rampant crime. But photos of derelict homes and empty lots can create a misleading impression. The city ranked 69th in population density - people per square mile - among US cities with more than a hundred thousand people, ahead of Las Vegas, Denver, Phoenix, and Portland, Oregon to name just a few. Detroit is still losing inhabitants, but neighborhoods like Woodbridge are rebounding
> Nat'l Geo : http://www.nationalg.../current-issue/
Hamtramack and Highland Park are incorporated cities completely surrounded by Detroit. Historically Polish Hamtramack now has the third largest Bangladeshi population in the U.S.
Construction is starting on the privately and publicly funded 3.3-mile M-1 Rail streetcar project. It will connect downtown Detroit to the bustling Midtown commercial area.
Investor interest in Detroit's downtown is growing. Residential occupancy rates are high, and two local investors have bought and are developing more than 130 properties.
Posted 03 May 2015 - 06:01 AM
Dan Gilbert : 2011 article : http://www.mlive.com...n_gilberts.html
Mayor Mike Duggan
M-1 Rail streetcar / mixed feelings : http://www.modeldmed...cts-102314.aspx
The people of Detroit
Posted 22 May 2016 - 03:13 PM
CNU comes to Comeback City, Detroit
The Transforming City is the theme of this year’s Congress—and it’s the most inspiring CNU storyline that I can remember.
Everything bad that has happened to US cities since 1950 is compounded in the Motor City. Detroit has lost more than 60 percent of its population. Its industrial economy is decimated. Houses have burned down almost nightly for years. Crime, poor schools, bankruptcy—you name it—Detroit has suffered more than most cities. And yet you don’t get the sense that the city is defeated.
Far from it—Detroit seems to be on the rise. The spirit of resilience is palpable. That’s why Detroit is an exciting location for CNU 24 in Detroit June 8-11. One big story that attendees will delve into is the downtown renaissance. Detroit’s downtown is booming. That story goes well beyond billionaire Dan Gilbert, who deserves a lot of credit. Downtown has gained more than 16,000 employees since 2010, boosted by Gilbert’s moving of Quicken Loans and his umbrella company Rock Ventures, which includes real estate development. Gilbert went on a buying spree, acquiring 90 buildings and parking facilities, according to Curbed Detroit, to refurbish properties for office and residential.
Gilbert built on a foundation of incremental development that started in the late 1990s, according to Mark Nickita of Archive DS, and architect and business owner. “There’s a definite connection between dozens of incremental developers and then huge major players who are investing billions of dollars,” he says. “Plus the foundations like Kresge who helped fund the QLine (the streetcar), and then you add in demand and interest in urban life and a major metropolitan area of five million people that can draw on incredible resources—that’s driving what is happening in Detroit now.”
Other notable players are the pizza tycoon Mike Ilitch, a big developer, and Blue Cross Blue Shield, which brought 3,600 employees downtown from 2010 to 2012.
Downtown, which often felt like a ghost town 15 years ago, now has a housing shortage, with 98 percent residential vacancy. More people are creating demand for retail, and Gilbert is moving ahead with a 225,000 square foot retail project with 250 residential units on the site where Hudson’s Department Store once stood.
Posted 18 April 2017 - 04:56 PM
March 28, 2017 by The Oakland Press
The Oakland PressSam Strager, 24, a Groves High School and University of Michigan Dearborn graduate from Birmingham has been wanting to open a barre studio from the moment she stepped into her first barre studio. In early January, her dream came true when she opened ...
Posted 01 May 2017 - 10:38 PM
Length of downturns - this was first posted on the Singapore thread
"The best time to buy a property is always 5 years ago"
Anyone who says something like that is unaware of cycles - which are real and observable - just look at prices over a long enough period.
Idiot estate agents will show you a graph going back 10-15 years, showing prices rising over the whole period, and think that this makes a case that prices will go on rising. When I see that, I have a model in my mind: "14 years up, 4 years down... the last 2-3 years of the up-phase are the most dangerous."
So if I see 10-12 years of rising market - worse yet: 14 years! - I will be very wary, and want to wait for the drop. That is my attitude towards Hong Kong and Manila right now. I would rather buy in a place like Singapore, after a 3-4 year drop. Even in Singapore, I am somewhat cautious, for reasons that I have described above.
"The best time to buy a property is always 5 years ago"
- was definitely not true in Detroit, where in 4-5 years, nearly a decade of gains were wiped out
And some houses went down to $100-$1000 in value.
"The housing price index in Michigan hit its all time low in 2011. The housing index in Michigan is currently at 139.66, 40 percent higher than its value in 1991. This current index is approximately the same as that from 1997."
> source: http://www.drawingde...index-compared/
The US House price drop was widespread, and even San Francisco saw a drop of 72 months (= 6 years)
- so we cannot expect that the entire drop will always be confined to 3-5 years
Once the lows were in place, prices improved dramatically, even in Detroit
But they are still below the price levels of 10 years earlier
Posted 22 October 2017 - 11:12 AM
DETROIT's Pitch... for Amazon's 2nd HQ
With numerous cities offering tax breaks and subsidies (and even hashtagged holidays), does this create a race to the bottom, with Amazon ending up with the city willing to pay the most for the privilege? (It certainly seems less transparent than Toronto’s celebrated victory yesterday in landing Sidewalk Labs as a development partner for a future smart city district, since Toronto offered no subsidies or tax breaks). Is this how we should fund transformative urban development in the United States, a contest to impress a retail giant as opposed to a larger version of the Smart City Challenge, which spurred on progressive tech and city design in multiple cities?
Curbed broke down the good, the bad, and the somewhat embarrassing submissions made by cities around the country.
Best production value: Detroit’s “Move Here Move the World” video
As a Curbed Detroit reader commented, this plays like a “21st century version of the glossy chamber of commerce brochure.” Produced by Bedrock, the real estate
development firm owned by billionaire Dan Gilbert, a big force in downtown Detroit, it’s glossy, well-narrated, and daresay poignant.
Detroit has gotten some positive press for its bid, which is the only trans-national bid, due to the inclusion of Windsor, Canada. Even urbanist Richard Florida listed the city as his sleeper pick. The city seems to be playing off its past, and well as its potential, and this video hits both those points perfectly.
Conor Sen's Top Five Cities : Toronto, Boston, Washington, Atlanta, Dallas - I'm not buying this list !
Five Cities With the Best Shot to Get Amazon
Sep.19 -- Conor Sen, a Bloomberg View columnist, discusses the race to become the site of Amazon’s second headquarters and what cities will do to attract companies. He speaks on “What’d You Miss?”
Which cities are front-runners for Amazon's 2nd headquarters?
Philadelphia has got to be in the Top 2-3. And may well be the winner
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