Detroit, “America’s comeback city,” once dependent solely on the automotive industry, has been molded into a well diversified and dignified metropolis. Abandoned warehouses and automobile plants are being converted into beautiful loft- style apartments. The river banks are seeing new life as retail, office, and residential space are becoming a hot commodity, expanding beyond the downtown area.
This paper looks in depth at the impact of this activity on the office, retail, and residential markets. It identifies three key trends driving new development: job growth, limited availability of desirable product across product types, and dedicated new investment by private & public entities.