In this bankruptcy, great attention has been paid to the worth of the art in DIA and the value of the Water and Sewerage system. Do any of the assets listed below have substantial
value? I believe these are city assets but there may be
restrictions that prohibit their sale.
Chandler Park - It is difficult to see that real estate investors would want to build in this location. I have heard rumors that
the NFL is building a field for young players here.
Clark Park - The area around this park is one of the few in
Detroit that did not lose a great deal of population 2000 to 2010.
Detroit Historical Museum - Apparently the historic cars owned by the city have considerable value.
Detroit People Mover -Although it carries many passengers, it is costly to operate. Unlikely to become profitable.
Detroit Zoo and adjoining golf course
East Side Waterfront Parks - Henderson, Gaberiel Richard,
Maheras and Waterworks. The efforts to popularize Detroit's Gold Coast as a residential area have been somewhat successful. If Gilbert's efforts bring many highly paid IT
workers to downtown, I can see investors building on some
of this well situated parks.
Manoogian Mansion - You might expect this home would
sell for as much as the one on the same block that Kid Rock purchased last year.
Mistersky Power Plant. Detroit Lighting owns or control a power distribution system. I heard rumors that Orr has already spoken with DTE about their taking it over. I believe
that the power generation plants has been closed for some time since the city had no capital to invest in modern equipment.
Palmer Park - If Gilbert brings many high paying jobs to downtown and if Penske and his colleagues can get the light rail line extended to 8 mile, Palmer Park could be used for
upscale residences. I don't know if Thomas Palmer's will
precludes the sale of this part. There have been some
recent investments in rehabing units in the Palmer Park
Historic District.
River Rouge Park - Olympic sized swimming pools but too remote to have value for real estate speculators.
Charles Wright Museum of African American History-
This is a beautiful structure but the collection may have little commercial value.