Lofts are the developers way of saving on costs... so many redevelopments in Detroit are tight financially, so the developers do lofts to save a few bucks and for quite a while there was quite the surplus of lofts. There is becoming such a shortage of downtown space now though, that even the lofts are pretty well filled up, even with people who are simply renting.
Right now, downtown could use affordable apartments and perhaps some affordable condos... the condos at the Book Cadillac are too expensive for many who would actually be looking.
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