Selection of relevant news on real estate sector in Detroit
We are pleased to give you information about news on real estate investments published in different media. We hope you find it interesting. We can help you analyze how this information can generate opportunities for your next investment.
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Is it time to invest in Detroit?
The real estate market decline in Detroit gives the opportunity to “buy cheap and sell at a high price”. It is estimated that about 80% of homes for sale are being purchased by investors.
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Trump announces a “big investment” of Ford in USA
Ford will invest 150 million USA dollars to improve Romeo engine plant on the outskirts of Detroit, where a number of 130 new jobs will be created. They will also spend 200 million on a vehicle data collection center.
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JPMorgan Chase Commits More Than $1.2 Million to Help Revitalize Detroit’s Neighborhoods
Six JPMorgan Chase-backed programs will help stabilize neighborhoods through targeted efforts that maintain affordable housing, eliminate blight, and attract new businesses.
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How to build up Detroit
Two reasons are considered: If you guarantee construction, they will come. Increase demand, supply and provide loan access possibilities.
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Report: Detroit now has more renters than homeowners
Only 703 homes in Detroit were purchased with mortgages in 2016, up from 557 in 2015, figures lower than comparable legacy cities with healthier housing markets such as Cleveland, Ohio and Buffalo, New York. As current housing market trends indicate Detroit will be a city where renters are increasingly important to the future of neighborhoods, it is important to ensure that this shift will have a positive effect on neighborhoods.
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Detroit real estate this spring: What to watch for and expect
It’s the first day of Spring and we’re anticipating a busy real estate and development season heating up. A couple months ago, we talked about what could be Detroit’s hottest neighborhoods for 2017. Since then, we’ve been surprised by some of the neighborhoods emerging.
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GM will create or keep 900 jobs in Michigan (USA)
The American Global Automotive Company General Motors will create or keep approximately 900 jobs in three of their plants located in the State of Michigan (USA) during the next twelve months.
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Trump will visit Detroit to deal with the creation of job opportunities in the automotive sector.
Sean Spicer, the spokesman for the White House, indicated that Trump will support “the elimination of onerous regulations which are unnecessarily hindering a substantial growth in employment opportunities”.
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Trump asks Detroit to back his so-called “new industrial revolution”
The American president explained that such a “new industrial revolution” is based on “eliminating burden on companies” as long as they “hire people and grow” in the USA.
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Urban revival is emerging in Detroit
Detroit is one of the last bordering areas experiencing a boom in apartments development in the USA. Local developers, a small group of businessmen, are taking action so that the city can emerge again, as no construction has been conducted there for decades.
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Rent Reports: Detroit still affordable, comparatively
In the worldwide study, Detroit ended up more affordable than Cape Town, Bangkok, and Jakarta. In another study looking at affordability in different US cities, Appfolio and Axiometrics determined that even though prices for rent have risen downtown, Detroit is still affordable in terms of rent.
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$550M committed to private equity fund for Detroit-based Huron Capital Partners
With its $550 million fund, Huron will focus on companies in the lower middle market, aiming at between $20 million and $70 million per transaction. Huron prioritizes the business services, consumer products and services, and specialty manufacturing sectors.
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Detroit: A finance technology center?
From the moment Donald Trump took office in the United States, one of the promises of his administration was to make the country successful again and make it ready to provide thousands of job opportunities. Now, based on these guidelines, Microsoft has transferred part of its organization to the center of this city, therefore it can be expected that it will become a finance technology center.
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7 of the most exciting developments in Detroit for 2017
Several hundred apartments units will become available in the greater downtown area this year while community development corporations plan to re-energize their neighborhoods with projects of their own.
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The giant automotive company Fiat Chrysler is planning to make a strong investment in the traditional jeep market in the USA, which would entail the creation of about 2,000 jobs. In addition, the company will invest 1,000 million US dollars to expand the two plants located in the states of Michigan and Ohio.
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Detroit rents increase slightly in 2016, still lower than Michigan average
Basically, in Detroit, the average rental price for a one-bedroom was $620 (that’s all Detroit – not just downtown, not metro Detroit). That price fluctuated from a low of $602 in May/June, to a spike in December of $725.
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Construction builds up hope for Detroit’s 2017
A string of major construction projects — from a massive hockey arena and street car line down Woodward to the resurrection of the Wayne County jail project — will reshape downtown Detroit in 2017. It’s a flurry of activity and investment that seemed wildly improbable less than a decade ago. But the construction detours and closed sidewalks are a welcome sign of a new era for many who live and work near downtown.
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