24,000 New Jobs Planned for Detoit
USIG Staff - October 2017
Dan Gilbert has become a very well known ambassador for the City of Detroit. After moving his company's headquarters to Detroit in 2010, Gilbert has been the most active developer in the greater downtown area. While Quicken Loans and its family of companies employ tens of thousands, Gilbert expects his new projects to generate 24,000 new temporary and permanent jobs in the city. Rock Ventures is now heading several massive developments which includes a proposed skyscraper set to be the tallest in the state of Michigan. The skyscraper will be build on the site of the former Hudson's building right in… 24,000 New Jobs Planned for Detoit
Developer Plans to Turn Vacant Industrial Complex into Upscale Residential Building
USIG Staff - October 2017
The Stone Soap Building on Detroit's eastern riverfront has been vacant for at least 20 years. Now, the City of Detroit has accepted plans by a developer to turn the blighted complex into an impressive residential building featuring apartments and condominiums. The industrial complex was first built in 1909 and was home to several companies over the decades. In the 1970's, the Stone Soap company, which manufactured detergents, moved into the building in the 1970's … Developer Plans to Turn Vacant Industrial Complex into Upscale Residential Building
Detroit Named Top 5 Hottest Housing Market
USIG Staff - September 2017
Detroit is arguably the most popular housing market in America for property investors. Realtor.com, which tracks several trends in the US housing market, just named Detroit among the top 5 hottest markets in the country. The numbers don't lie: Detroit's homes are selling 20% less than the national average, meaning price point per unit is significantly lower than comparable investment markets. More importantly homes are selling quickly, 27 days faster than the national average. Investors from around the world are flocking to the Motor City to take advantage of the high net yields/capital appreciation… Detroit Named Top 5 Hottest Housing Market
Downtown Detroit Expected to See $5.4B in Investment by 2020
USIG Staff - August 2017
It's no secret that Downtown Detroit is in the midst of a modern day renaissance. The Motor City's downtown has attracted businesses from all over the world, and new development projects spring up every day. Now, CBRE Group (NYSE: CBG) has published a report with astonishing figures. Between now and 2020, Downtown Detroit is expected to see $5.4Bil in capital investment. According to the latest reports, this capital investment will generate 6,000 new apartment units, 1… Downtown Detroit Expected to See $5.4B in Investment by 2020
Massive Renovation Planned for Iconic Detroit Building?
USIG Staff - August 2017
If you asked Detroiters for a list of the most iconic buildings in the city, the Michigan Central station will appear on most lists. Although the building has been vacant for nearly 30 years, it has been featured in numerous documentaries and news stories about Detroit. In a way, the building is a microcosm of the city itself. Once a grandiose, extravagant building, the train depot has fallen into disrepair and stripped by looters and vandals. Over the years we have heard of many plans to renovate the building but none of them have come to fruition. Now, things are starting to change and a massive… Massive Renovation Planned for Iconic Detroit Building?
Non-Profit Makes $5M Investment into Detoit Neighborhood
USIG Staff - August 2017
This year marks the 50th anniversary of the Detroit riots, which engulfed the city in the summer of 1967. 50 years later, there are sections of the city which are still feeling the effects of the 67' rebellion. Not too far from where the riots began on 12th street and Clairmount, is the Dexter-Linwood neighborhood. The neighborhood isn't too far from downtown Detroit, where tens of millions of dollars have been invested over the past few years. However many residents of the neighborhoods outside of downtown feel like the investment dollars haven't made a difference for them. This is starting to… Non-Profit Makes $5M Investment into Detoit Neighborhood
Detroit Awarded $4.4M in Affordable Housing Tax Credits
USIG Staff - July 2017
With new, luxury residential developments springing up throughout the City of Detroit, many of the city's low income residents feared being priced out. However, the Michigan State Housing Development Authority recently announced the tax credits to preserve and construct affordable housing units for low income residents. Mayor Mike Duggan announced that 271 units of existing units which were set to expire will be renovated. The tax credits will help these buildings keep their affordable status for another 30 years. 114 new affordable units will be set aside for low-income residents, mainly reserved… Detroit Awarded $4.4M in Affordable Housing Tax Credits
Demand Rises for Downtown Detroit Office Space - Low Vacancy Rate
USIG Staff - July 2017
A new report by a leading commercial brokerage shows the vacancy rate for Detroit's most prominent buildings has dropped to its lowest point in decades. Just 7.5% of Detroit's iconic office buildings are currently vacant, as demand for quality office space continues to rise. Dan Gilbert, one of the leading developers in greater downtown, moved Quicken Loans headquarters to Detroit from Cleveland in 2010. This was one of the key moves that has driven demand not only for office space, but for retail and residential to support the influx of young professionals moving to the city. The Chase Building, … Demand Rises for Downtown Detroit Office Space - Low Vacancy Rate