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"A Crain's reporter at the Urban Land Institute conference for 4,000 real estate developers, brokers and investors noticed business cards showing a map of his 188 acres of property on one side of the card, with text saying "Would you like to develop/own the next opportunity in Detroit?" LINK
http://www.crainsdetroit.com/sites/d...20ULI-01_i.jpg
something fishy here...hantz's sweetheart deal may get sweeter...WTF:mad:
It certainly sounded like a “land grab” at the time since I don’t believe anyone ever believed in the whole urban tree farm being permanent. In any case, blight was reduced, the area beautified and property prices in surrounding areas have likely increased as a result.
Additionally, as development expands in all directions from the inside out, demand for this particular area will naturally rise adding to the profit potential for the Hantz group. And why not? The guy took a risk [[although mitigated by the sweetheart deal), invested into it and now kicking back waiting for it to mature. Good luck to him.
This is true. Hantz got ownership of the land cheaply but he has spent serious money on demolition, trash clearance and trees. If he can flip some of the land to developers who will build housing or mixed use projects, great.Quote:
Originally Posted by SammyS
Some ghetto hoods of Hantz Farms are still occupied by poor low-income black folks. They can't put them out for millennial gentrification. Give them some money$$$$ and they might sell their properties.
If someone occupies an urban prairie it's not exactly gentrification. Pioneering maybe.Quote:
Originally Posted by Danny
Whomever wants to develop it will surely have to invest in infrastructure of the area. When's the last time the sewers/water lines/electrical/gas lines were checked out? The 40s.......maybe?
This was supposed to be something. Hmm