Orleans Landing Project

[Mackinaw]

On which project/parcel? I recall renderings. Didn't know it was a-go at any point.

Residential demand downtown is unquestionably higher now than pre-2008, so one would expect to have heard at least an announcement by now. In other words, if they were that close 6-7 years ago, why hasn't it been picked up again?

[animatedmartian]

On which project/parcel? I recall renderings. Didn't know it was a-go at any point.

Residential demand downtown is unquestionably higher now than pre-2008, so one would expect to have heard at least an announcement by now. In other words, if they were that close 6-7 years ago, why hasn't it been picked up again?

What was planned then were condos. Most residential being built now are rentals. Pre-recession, credit was easy and everyone could buy $300K condos even with bad credit. Post-recession, that practice came to a halt and now seemingly only people with near perfect credit or enough cash saved up can buy a condo. Not a good economy for any developer trying to sell condos. There's really only a handful of cities in the country where condo sales are back to pre-recession levels [[Miami, NYC, etc).

Rentals are the safer choice for developers because you generally just depend on month-to-month revenue to cover the costs. The downside is that rent would have to be pretty expensive for Detroit to get the exact same projects [[quality, size, etc.) that were being proposed several years ago. That's not to say GM could still have something built along the waterfront, but it wouldn't likely be the same project from several years ago.

Here is the project GM was supporting:

http://www.renshorecondos.com/district.html

What would have been 'coming soon':

http://www.built-form.net/work/mixed...use/index.html

Press release from 2007:

http://jalopnik.com/270893/gm-buildi...-on-cars-later

[casscorridor]

go to any growing city and you will find dozens if not hundreds of buildings like these under construction or recently built while Detroit struggles to get a small handful of these buildings built, even along the beautiful riverwalk! one day the riverfront will be a very upscale area, and we will look back with confusion as to why it was neglected for so many decades.