Detroit Is Coming Back (real estate, credit, home)

[jonnynonos]

In my opinion, downtown and Midtown have reached the tipping point where things are only going to get better.

So much cool stuff going on down there... and so great to see!

[MS313]

This thread is going to be met with hate and you might even be personally attacked but I'm with you. I too believe downtown and midtown have reached a tipping point. These areas are a start, a journey of a thousand miles begins with one single step. Detroit's decline is slowing which IS the beginning of a turnaround. The core of the city is the best investment they can make, if you can't attract people and businesses to the core then how do you expect the city to bring the neighborhoods back? The core will probably increase Detroit's the tax base so the city can afford to help out the residents. And before the negativity rolls in I just want to say to Captain Obvious, Sherlock Holmes, and all the dead horse beaters "GOD DO WE ALL KNOW THAT DETROIT HAS PROBLEMS! But can we please, please just talk about some of the positives".

[AdemH]

I visit Detroit every 3-4 months. Every time I'm there the city has a better vibe than the previous time.

[jonnynonos]

Originally Posted by MS313

This thread is going to be met with hate and you might even be personally attacked but I'm with you. I too believe downtown and midtown have reached a tipping point. These areas are a start, a journey of a thousand miles begins with one single step. Detroit's decline is slowing which IS the beginning of a turnaround. The core of the city is the best investment they can make, if you can't attract people and businesses to the core then how do you expect the city to bring the neighborhoods back? The core will probably increase Detroit's the tax base so the city can afford to help out the residents. And before the negativity rolls in I just want to say to Captain Obvious, Sherlock Holmes, and all the dead horse beaters "GOD DO WE ALL KNOW THAT DETROIT HAS PROBLEMS! But can we please, please just talk about some of the positives".

Agree 100%.

In my opinion, truthfully, this has been a process that began with the new stadiums downtown. When I was downtown and in Midtown this weekend, though, it was the first time in my life I honestly felt that there was enough cool new stuff and enough momentum that I think it will be sufficient to attract the young people moving in, real estate speculators and businesses that will likely see those areas continue to improve... hopefully faster than slower.

The neighborhoods will be in bad shape for a very long time. But basically half of Chicago is rotten neighborhoods, but it's still a great city.

However, because real estate is so cheap in most of Detroit, including near most areas near downtown, change could come quicker than normal, both from prospective residents and investors.

[Arthur Digby Sellers]

Something has to be done about the school system. That's the main impediment to future growth. Until then, you'll see young professionals leave for the suburbs once they're ready to have kids.

[pododub]

I moved to the area 2 1/2 years ago and has made huge strides in just the time that I have been here. So much so that we are looking to buy a home in the city. There are a lot of people that like to bash the city that have honestly not even been there in years. And a lot of people that live in the 'burbs have serious fear of the city. I travel around the area a lot and I am in the city a fair amount and goodness knows there are areas that have issues and will get worse before they get better. This is not true for the whole city though.

[keraT]

Originally Posted by Arthur Digby Sellers

Something has to be done about the school system. That's the main impediment to future growth. Until then, you'll see young professionals leave for the suburbs once they're ready to have kids.

I am not big fan of non-public school because I like everything to fit standard but for Detroit, alternative school might be good option. We already have several high performing schools in Detroit, but they are few. Entire Detroit school district doesn't need to be reformed. We need few Renaissance High and Cass Tech High type school set right in midtown/downtown & we are set.

As mentioned before, no need to tackle the entire city at once. Focus on core, get good school in core maybe not DPS but charter school

[jonnynonos]

Originally Posted by Arthur Digby Sellers

Something has to be done about the school system. That's the main impediment to future growth. Until then, you'll see young professionals leave for the suburbs once they're ready to have kids.

Yes and no. Affordable private schools could also suffice.

Unfortunately the cost of many of those have exploded over the last 15 years.

There used to be quite a few affordable and good Catholic schools. Not so much anymore.

[Retroit]

I give the credit to Illitch, Karmanos and Gilbert. It is because these wealthy individuals have been willing to invest in the city that it has recovered. What is happening in downtown & midtown is proof of what capitalism and a business-friendly government can accomplish.

[MS313]

Originally Posted by Retroit

I give the credit to Illitch, Karmanos and Gilbert. It is because these wealthy individuals have been willing to invest in the city that it has recovered. What is happening in downtown & midtown is proof of what capitalism and a business-friendly government can accomplish.

I can agree with that. Usually I'm more for people but honestly a city like Detroit needs both businesses and people. I encourage all because there is more than enough room for all. And you better believe that some companies are watching Detroit businesses like a hawk right now. Like when Meijer first opened in the city, or with Applebee's opening up, I guarantee their competitors are watching them closely to see how they do in Detroit.