Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Classifieds
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 7 months ago,

User Stats

48
Posts
86
Votes

State of the City - Detroit 2024 - #1 in property value appreciation in America!!

Posted

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:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. 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!!

Loading replies...