DETROIT – “ BELIEVE THE HYPE. “
Detroit has been a favourite for overseas investors for the past 5 years with buyers from all over the planet looking for good growth and high returns. The once declining and bankrupt city seems to be coming back as strong as ever with positive news flooding in from the Motor city every day.
Manchester based firm Global Investments Incorporated are officially the largest supplier of Detroit turn key homes to investors and have sold close to 2,500 homes in the city over the past 5 years.
We spoke to CEO Mike Moodie and asked him his thoughts on what is happening in Detroit. Mike was quoted in saying, “ Well, anyone that has followed Detroit over the past 7 years would know that it has come from a very dark place and is now going through some major changes which in my opinion will finally put the city back on the map. In my opinion investors have a very small window of opportunity to buy up some of these incredible turn key opportunities before the market is out priced and returns are lowered.”
Below are just some of the changes on the Horizon for the Motor city.
1. The M1 Rail link – Q Line has been a long anticipated project, but has already begun to increase surrounding property prices since its announcement.
2. Gordie Howe International Bridge – This incredible bridge won’t be launching until 2020. It will tie the Detroit area to Canada, making international travel between the two areas easier. Currently, Canada has spent over $100 million on site preparations with Detroit soon to follow suit.
3. Hudsons Site – Another project set to be completed by 2020. This development is set to be the tallest building in Detroit. It will span an amazing 1.2 million square feet and will be considered mixed-use: a combination of commercial, office, technology, culture, and arts.
4. Little Caesars Arena – Soon to be the home of the Red Wings and the Pistons. This project offers more than just a new arena. The entire surrounding area is being built-up with at least 50 minimal projects in the works.
5. Fitzgerald Redevelopment – A full rejuvenation of this popular neighbourhood is underway, with over 100 homes set to be renovated over the next few years.
6. Bush Park Historic District – Prices are already rising in this long-forgotten district. Redevelopment has begun with mansions being restored and residential units being constructed. One such addition is The Scott at Brush Park, a 400-unit high end apartment building.
7. Capital Par – A recent announcement brings good news to Capitol Park. The Farwell Building and the David Stott Building are going to be undergoing renovation. The area will also see the addition of two new contemporary buildings for residential use, as well as several micro-apartments.
8. East Riverfront – Redevelopment of this area is highly anticipated. Renovations of vacant warehouses and land to include residential and retail areas, a new greenway, an urban beach, and an extended Riverwalk will all be in the plans.
9. Corktown. – There are several projects in the works for this area of the Motor City. The old Tiger Stadium is set to become the new PAL headquarters, complete with a baseball field, and a residential area. Just down the road, the Checker Cab building will be transitioned into lofts and more residential areas will be set up in the five blocks surrounding the building.
The City of Detroit is currently planning—or starting—10 major transformational projects that will help boost the appeal of Detroit’s quality of life. The City, which has already seen an influx of Millennials in recent years, will not only be rejuvenated by these transformations but will see a new outward appearance, one free of blight and ripe for change.
Moodie also commented. “ In recent years, development has been a major focus for the Detroit Metro area. There are new projects in the works that will be transforming the city in a major way, increasing living quality and benefiting the local economy and making this an even better investment for those people who have already taken the plunge or for those thinking of getting involved, however investors need to know that with increased demand prices are on the up so better to get involved now than keep siting on the fence. Detroit is definitely back and this time is here to stay. “
To find out what Detroit opportunities Global Investments Incorporated has to offer please email Mike or any of the team at Global at email@example.com