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Developers Are Turning Rust Belt Hulks Into Luxury Hotels [Bloomberg]
The idea is to grab hold of two dovetailing trends: consumers shying away from branded offerings and investors putting money into smaller U.S. cities, encouraged by local economic development types and a diverse set of national cheerleaders.

Detroit After Bankruptcy [Forbes]
…it’s also clear that Detroit endured a sort of socio-cultural bankruptcy that precipitated the fiscal one by many decades.

Belt Founder And Publisher Anne Trubek On Whad’Ya Know? []
“I can’t speak for all of Cleveland, but I think what Cleveland really would benefit from is a lot more people. And there are a lot of people in the world who need a great place to live, and we should welcome them, and we should do everything we can to attract more immigrants.”

How A Ponzi Scheme Used Flint Homes To Fleece $15M From Realty Investors []
“These types of scams were probably going on in the distressed cities of the Roman empire. The lower the price, the easier it is to make this kind of killing.”

Whitfield Restaurant Opens In Pittsburgh’s New Ace Hotel [Pittsburgh City Paper]
As East Liberty residents, we have no need to partake of Ace’s boutique lodgings. But we’ve joined the throngs congregating in the bar and restaurant in the old Y’s first-floor lobby and reading room, where young men once engaged in more abstemious pursuits.

Matthew Rink: Two Cities, Two Plans And High Hopes For A Brighter Tomorrow [The Repository]
What’s clear, is that neither city will advance to a place of prosperity if antipathy stands between residents and political power brokers at City Hall.

Downtown Detroit Sales Prices Rise To ‘Insane’ Levels [Detroit Free Press]
So far, these price spikes apply only in the greater downtown area and in a few of Detroit’s historic districts such as Sherwood Forest and Palmer Woods. In much of the rest of the city, home sale prices, while rising, remain depressed.

Banner photo by Kaleidico Digital Marketing

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