Metro Detroit has changed. It has now become “The New Detroit!” A new, booming downtown and midtown, new corporate headquarters, new shopping districts and storefronts galore, new entertaining nightlife and new restaurants are everywhere.
But what’s more is that Detroit is abounding with new life, as well. People are moving back to the city in record numbers. And it’s not too late for you to get a piece of the pie either. Here’s why.
Detroit is rebounding.
Since Detroit formally put an end to its bankruptcy chapter in late 2014, the city has been attracting investors, serious investors with colossal access to funds. Warren Buffet is one of them. “I like to buy mispriced things,” said the billionaire investor during a visit to Detroit last year. Buffet is known for his ability to buy low and sell high.
It’s ripe with renovations.
There have been billions of dollars in renovations in Detroit within the last several years. There are tourist attractions such as Greektown Casino, The Book Cadillac Hotel, and too many restaurants to name, including Dennis Archer, Jr’s new restaurant Central Kitchen. The new sports arena can account for $650 million in redevelopment and the arena district is continuing to renovate the surrounding areas.
Major corporations are staking their claim.
In 2003, Peter Karmanos moved its Compuware Headquarters to Campus Martius Park in downtown Detroit. In 2010, Detroit native Dan Gilbert moved his Quicken Loan headquarters there, as well. This was followed by Gilbert injecting $10 billion in prime real estate, which led to scores of new businesses and corporations taking note and following suit. Reportedly, these businesses have, and are continuing to bring tens of thousands of workers along with them. This influx of people has increased the demand for housing, new restaurants and more exciting night life.
We have collective buying power.
Often times, we severely underestimate the collective buying power we have. At the 16th Annual Global Automotive Push Summit held in Detroit in October, it was shared that the African American community has more than $1 trillion worth of collective buying power. This means we have power. And with power, we can levy change. That change can be tremendous in Detroit, if we come together and get our heads in the game.
Now is the time more than ever to join forces as a community, pool our money and resources and stake our claim in “The New Detroit!” Let’s make our voices heard, and our dollars count.