Detroit was once a leader in American manufacturing and culture. Between housing the bulk of the US’s auto industry as well as its status as the birthplace of Motown, few cities in the United States were more vital to the economic growth and indeed the overall identity of the country it calls home. After a sharp downturn in employment and closure of factories and the migration of record labels the city was brought to ruin due to the mass exodus that ensued. Now, decades after the fact, Detroit is rising like a phoenix from the ashes; Rife with investment opportunities and new beginnings for America’s comeback city.
In the last several years, Detroit has seen an influx of new residents eager to take advantage of low investment costs to rehabilitate the city to its former glory. The city center, once bereft and near abandoned, is now a bustling epicenter replete with restaurants, shops, and large scale projects such as the $900 million dollar Little Ceasar’s Arena which serves as the heart of the city’s live sports scene.
Large scale construction projects also abound, renovating abandoned buildings and manufacturing plants and turning them into residences, retail, and office spaces. This vote of confidence from billion dollar investors seeks to diversify the local economy by way of providing space for new business to move in and capitalize on the booming incoming population. Where once was the cradle of the automotive industry, we are seeing other industries such as mobility services as well as various finance and logistics tech companies take advantage of the opportunity to lay down roots for their businesses to flourish as they grow.
In roughly the last 10 years, the city has seen it’s unemployment rate dramtically plummet from 28% in 2009 to 5% as of 2018. This is a sign of a healthy and thriving community yet more needs to be done to fully restore Detroit to where it was, could, and should be.
Now the stage is set, with the states and indeed the world recovering from unprecedented market shifts, there has never been a better time to invest in Detroit. The future of the city can only be secured if people return to give it the attention it deserves, and that process begins with investors just like you. Market research indicates that a rental property in Detroit could result in up to a 15% return as opposed to the average of 6% seen in France and much of Europe.
Time is of the essence as this state of affairs won’t last forever. Savvy financiers the world over are taking note of Detroit’s potential. There’s more than monetary gains to be had, consider your investment the start of a legacy that could cement you and others like you as the people who saw Detroit for what it could be and unlocked the potential that had laid dormant for so many years. Don’t let this limited time opportunity pass you by. The future of Detroit’s renaissance begins with you. Don’t go on our word alone, see below for testimonials from people who know Detroit and are just as excited as we are for it’s revitalization:
“I chose to invest because as I was becoming more interested in real estate I was visiting Detroit frequently for family and work. I saw good potential which was unexpected because the reputation is awful but just like every large city there are good neighborhoods and I was able to drive through a few several times.
It’s also much more affordable than my local market and I figured if I can get my investments working there, I can probably figure out other higher markets later if needed.”
-Rassan Sampson, Independent Investor from California
“There is a dynamic in Detroit right now that did not exist before,”
-Tom Wilson, CEO of Olympia Entertainment
(Little Ceasar’s Arena Investors)
–“It’s a big change from a decade ago.
The occupancy rate has soared and prices have exploded,”
Sandy Baruah, president of the Detroit Chamber of Commerce.