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Updated 7 months ago,
State of the City - Detroit 2024 - #1 in property value appreciation in America!!
Keeping tabs on the great city of Detroit, below is the high lights!
If you're thinking of investing in Detroit, I've spent over $2M in the area. I plan on spending another $2M by end of 2025. This city is loaded with economic opportunities.
If you have questions or looking to get started, send me a dm. I'd love to help!
Below is the email I shared with my private investors. Watch the full 60 minute discussion:
Great news from Detroit’s 2024 State of the City address! Mayor Duggan has laid out an inspiring vision of growth and transformation. Here are the key highlights:
- Tourism & Events:
- NFL Draft: Detroit hosted the NFL Draft, attracting 300,000 visitors and capturing over 50 million viewers worldwide, boosting local tourism and global visibility.
- Automotive & Manufacturing:
- New Jeep Plant: Thousands of jobs are being created for Detroiters at the new Jeep manufacturing facility.
- Factory Zero: With 4,000 employees, GM’s Factory Zero is leading the charge in electric vehicle production.
- Lear Seating Plant: A new facility bringing 700 jobs, reinforcing Detroit’s manufacturing base.
- Corporate Expansion & Development:
- Amazon: 1,200 new jobs added with Amazon's expansion.
- GM Headquarters: Construction is underway for GM’s new headquarters.
- Huntington Bank Headquarters: Moving its headquarters to Detroit, signaling confidence in the city's economic prospects.
- JP Morgan Chase Call Center: Successfully launched, employing 120 Detroiters at $24/hour, with plans for expansion.
- Urban Development & Housing:
- Historic Building Restorations: Iconic abandoned buildings are being revitalized.
- Affordable Housing: A substantial $200 million investment into affordable housing initiatives.
- Vacant Properties: The Detroit Land Bank has reduced vacant houses from 47,000 in 2014 to just 4,400 in 2024, with a target to eliminate all vacant houses by the end of next year.
- Property Values: Detroit leads the nation in property value growth, attracting more investment.
- Health & Education:
- $3 Billion Hospital Development: A major new hospital is being developed.
- University Investments:
- Michigan State University: New health and education research center.
- University of Detroit Mercy: Undergoing a $100 million renovation for its nursing and engineering facilities.
- University of Michigan: Committing $200 million for a new center of innovation.
- New Riverfront University: Enhancing educational opportunities along the riverfront.
- Free College: Detroit offers four years of college education for free, aiming to boost education and future workforce readiness.
- Public Safety & Infrastructure:
- Crime Reduction: Homicides and carjackings have decreased significantly.
- Freeway Security System: A $30 million grant will fund a new security camera system to enhance safety.
- Illegal Vehicle Removal: The city plans to remove all abandoned and illegally parked vehicles by the end of 2024.
- Sustainability & Climate Action:
- Solar Energy Initiatives: Converting 127 buildings to solar energy and developing new solar fields.
- Home Energy Efficiency: Community funds are available to help homeowners upgrade their homes to be more energy-efficient.
- Economic & Employment Growth:
- Unemployment Rate: Down to 6.9%.
- Job Availability: Over 4,720 jobs currently open in Detroit.
- Land Development: $100 million investment in revitalizing a 7.5-mile stretch from North to Fullerton.
- Financial Stability & Credit Rating:
- Detroit has returned to an investment-grade credit rating for the first time since 2009, reflecting its financial recovery and growth.
- Community and Social Investments:
- Affordable Housing Leader: Continued emphasis on affordable housing solutions.
- Abandoned Buildings: Continued focus on converting abandoned buildings into apartment spaces.
Detroit’s momentum continues to build, presenting numerous opportunities for growth and investment.
The city is ranked number 1 in America for increased property values. Let's ****ing go!!