Value. It’s a major factor in determining where we live and a part of what will continue to drive residential growth in Detroit We’ve got that and then some, according to a survey by ApartmentList.com, which reports that Detroit is one of America’s more affordable cities, ranking 18 out of 75 major cities studied. When […]
The uptick in Detroit’s downtown and neighborhood property values is good news to many, but not for all. With rental rates rising and less property available in prime locations, it’s becoming increasingly difficult for millenials, seniors and low-income families to afford to live in the desirable neighborhoods they would like to call home. The cost […]
Mayor Mike Duggan promises a “city for everyone.” But getting from “here” to “there” in a city that has more than 10,000 homeless and a whopping one third of residents living below the poverty level is admittedly going to be a challenging task. In order to be successful, Duggan must bridge the gap between the […]
The city of Detroit says it is committed to getting a handle on a rental housing market mess caused by decades of lax oversight, and will step up the use of a 30-year-old law requiring landlords to have their rental homes inspected and registered with the city. If the city follows through, it could produce large-scale […]
Yvette Griffin owns a beautiful, five-bedroom home of her dreams, while her neighbors are Section 8 renters and others of low income. She wouldn’t have it any other way. The minister of Detroit’s Pilgrim Baptist Church, which she co-pastors with her husband, Griffin considered leaving the city for Canton a few years ago and, boy, […]
Detroit is a city of opportunity, innovation and investment. We can become a leader in urban revitalization’s best practices if we can commit to providing inclusive housing options for all Detroiters: our long-time residents, recent transplants, and especially the community’s most vulnerable. But there’s a formula for success. Implementing multi-dimensional housing solutions and strategies to […]
Real estate brokers like Austin Black II are happily working near 24/7 these days. The owner of City Living Detroit, a full-service real estate brokerage, reports that his biggest challenge is meeting ever increasing demand for housing stock in the city. “The properties continue to get scarcer, even as prices rise to stratospheric levels in some […]
One vacant Detroit property is among the city’s newest turnaround symbols. The long-empty Treymore Apartments, located at 457 Brainard, will soon provide affordable housing in Midtown, one of the community’s most popular, and increasingly costly, residential areas. A $3.5 million contribution of HOME city funds helped restore the property, adding another stake in Mayor Mike […]
While profit potential can and should drive development interest, it should not be the only consideration of property developers, according to experts who worry that many may miss opportunities to leap frog ahead of the marketplace by leveraging use of strategically-placed mixed-income housing developments in key city sectors with signs of growth potential. Mixed-income housing, […]
An old concept is getting new attention among various developers in Detroit and nationally. Mixed income housing is regaining interest as communities work to pick up the pieces left behind after the past decade’s mortgage crisis and as members of the corporate and private sector search for fertile ground in struggling urban cities. With Detroit […]