In Detroit, anyone can be a developer
Real estate lawyer runs programme to train local residents to invest in property and work in real estate
New York
AN urban revival has to start somewhere, and in the case of Detroit, that place has been downtown.
Coming out of the Great Recession, a handful of real estate developers invested heavily in a bid to lure corporate employers - and, more recently, business travellers and condo buyers - back to the centre of the city. That theme has met with occasional criticism that most efforts are intended to make Detroit more appealing to outsiders, without doing much for people who suffered through the city's infamous decline. One way, perhaps, to address the problem: help the city's long-time residents learn to make their own bets on commercial real estate.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Evictions surge in Arizona with housing shortage and rising prices
China property shares firm after Politburo highlights clearing inventory
Dubai billionaire’s children plan to revive troubled world islands
UK commercial real estate lending plunges to lowest in a decade
Hybrid, flexible working set to curb Singapore office usage and rents
Australia home prices sustain growth in April, CoreLogic says