Lots in Detroit

[tahleel]

Tenny,
I'm not trying to deter you from buying a loft, but I am/was in the same position as you. I was looking forward to buying a loft, and then I realized that most of these lofts were made in the early 2000s, and the tax abatement would end in a few years. After that, taxes would be FIVE TIMES what they are currently. For example, the millage for my home [[in Detroit) is 75. The millage on the lofts are 14-15, now. The taxes for that loft may only be around $700, now. But in a few years, when the abatement comes off, the taxes would be then be $3500.

-Tahleel

[tennyskj]

Tahleel,

Thanks for the info. I was also concerned about how the NEZ abatement was going to be calculated. I believe that the Garden Lofts only began clocking a couple of years ago... and the units that I would be looking into at Grinnell are still white box [[never owned)... so I'm thinking that 15 year abatement would begin with my purchase.

Walking through all of these, I liked the Grinnell best... but their asking prices haven't come down much despite the drastic drop in the real estate market.

[Danny]

Choose Garden Lofts at Brush Park. Great view of Downtown Detroit. Access to Tiger Games, Fox Theaters, and restaurants and other festivities.

[tennyskj]

Thanks for the suggestion. However, I'm more interested in the actual areas where these lofts are located. Does anyone actually live in or near any of these three? There are enough people in teh DetroitYES! forum claiming to know what's best for the city and it's politics... yet nobody can actually tell me the best neighborhood? Come on now... help a brother out!

[brandon48202]

To answer your question: Corktown, home of the Grinnell Lofts, is the best neighborhood!

I can say this as I know numerous people who live in the neighborhood and the Grinnell lofts. They always seem to be doing something fun- they have a big get-together for the fireworks, which are viewed well from the building. They are on the parade route for the St. Patricks day parade. They also are located well for Nemo's bus rides to sporting events.

If your only concern about the building is pricing, you can still put in an offer and see what happens.

[tennyskj]

To answer your question: Corktown, home of the Grinnell Lofts, is the best neighborhood!

I can say this as I know numerous people who live in the neighborhood and the Grinnell lofts. They always seem to be doing something fun- they have a big get-together for the fireworks, which are viewed well from the building. They are on the parade route for the St. Patricks day parade. They also are located well for Nemo's bus rides to sporting events.

If your only concern about the building is pricing, you can still put in an offer and see what happens.

Brandon,

Unfortunately, the asking prices at Grinnell have come down very modestly and are way out of my price range for a comparable unit in these other lofts. I understand the concept of making an offer, but I'm not out to insult anybody.

[lo_to_d]

Thanks for the suggestion. However, I'm more interested in the actual areas where these lofts are located. Does anyone actually live in or near any of these three? There are enough people in teh DetroitYES! forum claiming to know what's best for the city and it's politics... yet nobody can actually tell me the best neighborhood? Come on now... help a brother out!

All three neighborhoods are fine. The crime is mostly vehicle break-ins/bike theft, broke people will steal if you are not vigilant. In three years, I haven't experienced anything worse in midtown, knock on wood, and thats after not knowing what to expect when moving in. One thing I would say is in midtown you have the WSU police who are two times quicker to respond than DPD. I would choose based on which loft you like best though. Crime really seems less than what I thought it was going to be. I don't want my wife walking around after dark alone, but I wouldn't want her to in any city in America. I wouldn't rank the neighborhoods, each has its own unique characteristics, ask Forbes on that. My personal opinion, only because you asked, is that the closer to the university, the safer the investment. Check out Willys Lofts too. Very cool.

[tennyskj]

Brandon / NDavies / Neilr / lo_to_d....

Thanks for all of the information and suggestions. And, yes, the Willy's Lofts are also on my list. We will start doing walkthroughs shortly and make our decision this fall.

Thanks again!