Downtown Detroit Has Realized Such An Initiative

Category: Finance, Real Estate.

Urban downtown revivals take significant community coordination.

Local politicians, business owners and entrepreneurs must share their vision while harnessing other resources from state and federal governments. There must be a synchronicity of many key elements, working together in concert to create a city center rebirth. Downtown Detroit has realized such an initiative. Chairman of the partnership is Roger Penske, whose great achievements related to automotive industries seem indigenous to the Motor City. Downtown Detroit Partnership 2008 is a leadership group which has brought a vision to life for Detroit. Ann Lang is President and CEO of the Downtown Detroit Partnership.

This began with carting away over 300 tons of trash, scrubbing away miles of sidewalks, and full- scale removal of graffiti from bus shelters and other structures. Ann implemented the" clean and green" campaign for the downtown area. She put hundreds of Goodwill Industry people to work in ways that enhance the appearance of downtown, and add value to Detroit Real Estate. Success of the RiverWalk. The great community effort and goodwill towards revitalizing Downtown Detroit has led to many successes, all which offer ample opportunity for Detroit investment properties. Riverfront redevelopment has created an entertainment hub for downtown Detroit that completes a trilogy of residing, working and playing in downtown Detroit.

Detroit RiverWalk is a new three and a half mile walkway extending from the Joe Louis Arena to Belle Isle Park. New housing abounds, as people move into lofts, town homes and, apartments condominiums in and near downtown. Beautiful fountains adorn plazas and pavilions that meander through a butterfly garden. Belle Isle Park is a two and a half mile island in the Detroit River. Bike rentals there let you take it all in at a livelier pace. The Belle Isle Grand Prix is held there, bringing a hundred thousand visitors and more than$ 50M in revenue to Detroit.

Revitalization fans of the new stadium. The isle also contains a golf driving range, a boat club, playing fields and even a swimming beach. In 2000, home of the, Comerica Park Detroit Tigers, led the way for downtown revitalization. Next door is the Ford Field, home of the Detroit Lions, which was created in 200The close proximity of these new stadiums, along with the popularity of the Red Wings Joe Lewis Arena, has fostered a tremendous revitalization, complete with boutique shops and restaurants, including the Hard Rock and Red Wings Restaurant. The defining attributes of Comerica Park extend far beyond a sports facility, but indeed a cultural beacon, including a theme park, urban village with restaurants, and offices, shops, and a baseball museum. Subsequently, the cultural allure and entertainment options that surrounding the stadiums have created great revitalization energy in Detroit real estate. Woodward Avenue, is known for, a historical byway being the epicenter of culture, and entertainment, history.

The growth of cultural Woodward Ave. The miles of Woodward Avenue in downtown Detroit feature the Detroit Symphony Orchestra and Michigan Opera Theater, along with events that attract residents and visitors alike. Creating a green oasis filled with performance stages, lunchtime concerts, fountains, and a caf�, the accomplishment highlights the joy of downtown living. In recent years, the Campus Martius Park has built even more revitalization fanfare to Woodward Avenue. A drive through Woodward Avenue exemplifies trendy restaurants, the popular sports stadiums, and a pedestrian- friendly ambiance. Innovative, trendy condos in Detroit real estate.

Subsequently, the loft condos surrounding Woodward Avenue have become popular and trendy, as residents opt to choose urban renaissance over the car- dependent suburbs. Trendy residential lofts abound in downtown Detroit. Renovated and rehabbed projects have transformed early twentieth century commercial and industrial spaces into modern domiciles- very popular with young professionals and eco- minded families. Detroit real estate promotes a high quality of life space, and the current pricing is considered highly affordable compared with many major cities. People are realizing the value of living where they work, eliminating a commute. Following a big sales spike in fourth quarter 2006, national real estate sales have stagnated.

The new face of revitalized urban residence in downtown Detroit makes a compelling case to buy Detroit real estate to reside, invest or renovate and re- sell. But downtown Detroit real estate may be poised for an upcoming rally, as younger would- be urban residents find value in the lifestyle and buildings of downtown Detroit, Michigan real estate.