Quote Originally Posted by illwill View Post
When I see situations such as this one, buildings that borderline teardown or save, I tend to wonder if an investor [[or numerous investors) would have stepped forward to buy this building; were the city to have a better understanding of its financial future.

Because city living has become more demanding in recent years, this would be an awesome project for the right developer at the right price. Unfortunately, I think many developers are sitting on the sidelines waiting to see what the outcome is for Detroit’s economic future. Detroit is ripe for the pickings and yet, only a hand full of developers are playing in the pool.

Another example of Detroit ALWAYS missing the economic boom opportunity, due to its own incompetency.
I would not say that investors shy away because of the city's financial shape because they understand by investing they help the bigger financial picture thus improving their investment.

More so the way it was being run.

Pure Michigan touts facade improvement grants,the city has always had facade improvement grants funded by the feds there is no reason in the world a building is being demolished because of the lack of facade improvements.

Unless the owner decided to speculate and not spend a dime in time or effort from the get go. Demolition by neglect.

Or the city was so screwed up that they never even applied for the funds.

Or those who were in power profited by the way things were changing it would have drawn attention,but not making the changes in itself drew the attention.

We have bought buildings like that from cities before that were also broke,but the first thing they did was hand over a facade improvement grant or worse case 50% cost split because they understood the importance of what the building brought to their city.