Detroit 1920’s Celebrity Homes!

Detroit 1920’s Celebrity Homes!

Detroit 1920's Celebrity Homes!

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For those who wonder about living in Detroit after its bankruptcy, take a look at the visionaries who are rebuilding the city from the inside out with good old fashioned American entrepreneurship. Maybe it’s time the press stopped the negative drama and started concentrating on the positive facts. Many developers see Detroit as an opportunity as do many merchants, and it’s a lot to talk about. Midtown Detroit, which had practically been a ghost town, is now one of the most successful areas of the city with an increasing number of young professionals moving in at a 96% residential rate enjoying expanding retail and entertainment venues. Detroit’s Downtown, Midtown and New Center areas where 57% of the residents are between ages 25 to 34; 45% having bachelor’s degrees and 34% with master’s or professional degrees. Whole Foods Market opened its first store in Detroit last June and claims "the store is exceeding wildest expectations." Add to that the new $72 million shopping center, Gateway Plaza in Palmer Park, a new light rail system and Michigan billionaire, Mike Ilitch’s part in establishing a new arena in the entertainment district. Just because the auto industry has mostly moved out doesn’t mean that something even better can’t replace it. The trick is to get in now before the boom. The timing is perfect to snap up an elegant home in an historic neighborhood at bargain basement prices.

For addicts of HGTV’s "Property Brothers," Detroit’s auction of 13 classic homes through June 8th, with a reserve of only $1,000, is another sign of the city’s renaissance. These are circa 1920’s homes with character and exquisite woodwork, stained glass, large rooms, high ceilings and fireplaces, all need rehab, in some cases down to their strong bones. However, with a redo budget of about $200,000 or a talented pool of carpenter and plumber friends, these are homes that can be turned into today’s jewels located in the well-maintained Boston Edison neighborhood. According to The Detroit Free Press, "This was the place to live in its heyday," said architect Rob Saxon, chief architect at the Detroit Land Bank Authority, which is running the sale. There was everything from athletes, Ty Cobb and Joe Louis, to dignitaries to the auto manufacturers." Other famous names on the past neighbors list include Walter O. Briggs, Henry Ford, S.S. Kresge, and four of the auto entrepreneurial family Fisher brothers. For more information.

Get in before the rush in the new up-and-coming city of Detroit. Auction of 1920’s celebrity homes through June 8th. Reserve, $1,000.

Source: www.buildingdetroit.org