Nearly 700 young workers have already taken advantage of the Live Downtown and Live Midtown program. That's a good number for an initiative that was launched just last year. But more would jump at the incentive to move into greater downtown if there were more living units available, says Sue Mosey of Midtown Inc. in this story in MLive.
The effort was launched in "partnership with Henry Ford Health System, Wayne State University and Detroit Medical Center as a way to get young workers to live in the Midtown area, by offering $2,500 in annual rent assistance or a $20,000 down payment on a home purchase. The effort's initial $5 million was matched by the Hudson River Foundation, the Michigan Housing Development Authority and the Kresge Foundation.
Large employers in the downtown area took note of the program, and soon Compuware, Quicken Loans, Blue Cross Blue Shield, Strategic Staffing and DTE Energy added another $5 million to the effort to draw their young workers downtown.
About $2 million has been spent so far, Mosey said, and the program plans to continue to spend $2 million each year for the next four years.
Sounds good, let's keep it going. Read more here