Investing in Detroit's Reborn Avenue of Fashion

Detroit's Avenue of Fashion is experiencing a remarkable renaissance, capturing the attention of rental investors eager to tap into a vibrant, historically rich community.

This bustling area, which runs along Livernois Avenue from Eight Mile Road to Seven Mile Road, is more than just a shopping strip; it embodies a story of resilience, growth, and community pride.

As the district undergoes this transformative period, let's explore how an $18 million development project has revitalized the area and what this means for Detroit landlords.

Breathing New Life into the Avenue

In its heyday during the 1950s and 1960s, the Avenue of Fashion thrived as a bustling retail hub, especially favored by Black Americans with disposable incomes.

However, the subsequent economic downturn led to a period of decline.

Fast forward to the past decade, and the Avenue is once again a beacon of activity, thanks to a surge of new businesses and a committed community spirit.

The Streetscape Project

A key catalyst for this revival was the completion of a comprehensive streetscape project in 2020.

This $18 million initiative transformed the district by widening sidewalks, adding bike lanes, and implementing stormwater management systems, thereby enhancing pedestrian access and safety.

Rufus Bartell, a pivotal figure in the district's revitalization, remarked to Crain’s Detroit, “That streetscape project was a game changer,” as it paved the way for outdoor events and cafe-style dining to flourish.

The pedestrian-friendly transformation marked the beginning of a new era for the Avenue.

Championing Diversity: The Rise of Black-Owned Enterprises

Today, the Avenue of Fashion proudly hosts a diverse array of Black-owned businesses.

Sean Gray, Vice President of the Detroit Economic Growth Corporation, highlights the significance of these establishments, stating, “These shops and restaurants are not just businesses. They’re our neighbors, our history, and a big piece of our future.”

The Motor City Match program has further bolstered this growth, resulting in 16 grant-winning new businesses opening along Livernois since 2015.

Investment Hotspots in Detroit

Adjacent to the Avenue of Fashion are neighborhoods such as Oak Grove, Sherwood Forest, Green Acres, and the University District. 

These areas, characterized by their historic charm and modern amenities, offer an appealing mix for both residents and investors. Known for their tree-lined streets and stately homes, these communities are gaining popularity due to their proximity to the revitalized Avenue and ongoing improvements in the area.

Rental properties here present a promising opportunity for steady returns as more people seek to join Detroit's revival.

Stories from Local Entrepreneurs

The area's cultural and economic vibrancy is further illustrated by local entrepreneurs like Lola Lucania and Kimberly Elise, who have invested in the community amid challenges such as the pandemic.

Lucania, owner of Lucania Lavish Couture, praises the streetscape enhancements, noting, “I run a fashion boutique. For me to be able to put the mannequins on the sidewalk and put some of my designs on them makes a big difference.”

Investor's Insight: Seizing Opportunities in a Revitalized District

For rental investors, the Avenue of Fashion offers a unique opportunity.

The district's growth, underpinned by community resilience and strategic investments, signals a promising environment for long-term returns.

With a rich history and a forward-thinking community, investing in this area means becoming part of Detroit’s exciting resurgence narrative.

Our advice for landlords? Consider exploring rental units for sale in neighboring communities like the University District, Sherwood Forest, and Green Acres to capitalize on these developments.

For those interested in delving deeper into Detroit's rental investment opportunities, we invite you to explore our in-depth analyses of each neighborhood. Discover detailed data and insights to guide your investment decisions.