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, 1,200 hotel units, and 2.1 million square feet of new office space. Of course, with all of this new office space and development, comes more retail and businesses. So the economic impact of these projects will be substantial.

Many young professionals are opting to live downtown over the suburbs, as the population in Greater Downtown (including Midtown, Corktown) continues to grow. While the list of developments grows longer every week, the main players are Dan Gilbert and the Illitch family. Gilbert's Rock Ventures family of companies continue to snap up real estate throughout the area. The crown jewel of the Gilbert portfolio will be the planned residential/retail tower at the site of the old Hudson's building. The tower is expected to be the tallest building in the state of Michigan. Meanwhile just up the street on Woodward Avenue, Olympia Entertainment (owned by the Illitch family) is wrapping up construction on the massive Little Caesars arena. The new home of the Red Wings and Pistons is expected to have a massive economic impact on the area.