Local real estate and financial insiders were bullish on Detroit's next boom at the Model D
IdeaLab conference Thursday at the Ross School of Business at the University of Michigan in Ann Arbor. The event brought together creatives and finance types for a fast, TED-style forecast of Detroit's economic future.
The
Freep quoted local movers and shakers on their successes in the real estate market in 2010: two in particular were City Living's Austin Black and Richard Hosey, senior VP at Bank of America's Detroit office, who pulled together the recent $55M deal to renovate downtown's Broderick Tower.
Excerpt:
One of the city's main assets for both commercial redevelopment and
for residential development, Black said, is the unique architecture.
Hundred-year-old homes in Palmer Woods, for example, appeal to buyers
because the architecture cannot be replicated.
"Detroit is
getting into that stage right now where …settlers are moving in. Not
just pioneers," said Randy Lewarchik, a real estate developer.
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