While it could be said that in the early 2000’s the City of Detroit dragged down the State of Michigan – today the name Detroit carries with it alternate parts grit and panache and is the shining emblem of an industrial city wiping off the grease and reimaging itself. The State of Michigan is now proud to be associated with the name “Detroit”.
The resurgence of the downtown area has in large part been spearheaded by Dan Gilbert, owner of Quicken Loans. He has purchased, refurbished, and leased over 42 high rise office towers and many parking garages. Others have followed suite. Many restaurants are looking and have already leased space in the downtown area. One of the better known is Punch Bowl Social, a multifaceted eatery/entertainment/bar concept located in the Z Building/Garage – an artist embellished parking structure in the core of downtown.
In Midtown – also known as the “Cultural Center” a transformation has occurred spurred by the locations of Whole Foods and the new iconic flagship store for Shinola. Midtown being home to the Detroit Institute of Arts, Wayne State University, and other cultural institutions has become the seat of entrepreneurialism, the arts, and other creative class activities. New retailers and restaurants pop up every day and construction is ongoing with office users also returning to the city in a steady stream.
On top of all of this, residential construction is booming in Downtown and Midtown with occupancy rates over 98%, most properties have waiting lists!
Cynthia J. Kratchman | Principal
Mid-America Real Estate-Michigan, Inc.
38500 Woodward Avenue, Suite 100 | Bloomfield Hills, MI 48304
Phone: 248.855.6800 | Fax: 248.406.0560
firstname.lastname@example.org | www.midamericagrp.com