Discuss Detroit » Archives - July 2008 » Investment in Detroit, an outsiders thoughts... « Previous Next »
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Doma
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Username: Doma

Post Number: 2
Registered: 05-2008
Posted on Friday, August 08, 2008 - 8:21 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Detroit has it's problems, but it also has many positives. It's kind of disturbing as a person who does Renovation for a living to see so many great structures standing vacant.

One thing that bothers me is when respectable people tell me first hand about corruption in local government.

I think about the fact that Synagro was able to buy city employees in the 1000's of dollars. There was a quote going around from an employee of the company stating that "we couldn't believe how cheaply some of these people could be bought"

THAT WAS A 47 MILLION DOLLAR A YEAR CONTRACT!
In the "current" system, I believe that everybody has their hands out. Now lets talk about the 800 pound gorilla in the room for RE development and on of the main reasons many buildings Downtown remain empty

Kwame & Bobby Ferguson

Now, the other day I was downtown, I was speaking to a businessman who I have great respect for. He told me about a situation with a VERY PRIME piece of real estate which is owned by the city. Now many people have reported that if you want to do Real Estate deals with Detroit, everybody is going to come after you and throw up all kinds of red tape until you use the "approved" contractors, pay the right people, etc. Everybody who knows anything about Detroit knows BF, because they make you know him. In Detroit, people wait in-line to get lousy third rate services in exchange for top dollar.

Point: In addition to other travesties, Detroit lets buildings sit vacant until "certain people" fix them.

Also, with the complete destruction of city government, almost nothing is getting accomplished. Do me a favor, try to speak with the city about anything they own (a lot of which is downtown) They don't care about Detroit getting better, it's all about who is willing to pay a premium for service.


If you're a small time guy like myself trying to do something big, they are going to try to milk it for what it's worth.

Detroit's dysfunctional government WILL get better, there's too much pressure now for it not to.

If we do get somebody as mayor with a forward vision AND integrity, Detroit will come back. We need somebody who is independently wealthy and CANNOT be bought. Like New York has Bloomberg, we need a leader and we need them to only focus on making Detroit investment simple and transparent. THEN you will begin to see the suburbs invest in storefronts and national chains return downtown.






By the way, I checked out this little coffee shop that just opened right around Capitol Park and it is pretty cool, it's 100% Detroit, support local business!
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237am
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Username: 237am

Post Number: 23
Registered: 07-2008
Posted on Friday, August 08, 2008 - 8:44 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

i tried to get info and buy a building or 2 a few years back...... i gave up simply trying to do through the system of things.......

i'm into design/build/renovation myself and found it hard to actually find clients that wanted to do anything worth while..... and creative....... not many folks want to think outside of the box and actually have something different...all they want is the typical/cheap/just to get by service.....

i was trying to push a design/build shop for the past 8 years but nothing major has come from it......

b
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Sean_of_detroit
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Username: Sean_of_detroit

Post Number: 1407
Registered: 03-2008
Posted on Friday, August 08, 2008 - 9:16 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Welcome!

Yes, the current big battle is in corruption, and simplifying the system.

PS: That coffee shop is pretty good. There was a topic on it not to long ago (it should be on this page at time of posting). It's called "Urban Bean Co.". Also new is "Good Girls Go To Paris Crepes", in the same building OSLO is in, on the corner of John R and Woodward Avenue. I'm really looking forwad to visiting them for the first time, sometime this week.

(Message edited by Sean_of_Detroit on August 08, 2008)
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Lefty2
Member
Username: Lefty2

Post Number: 1645
Registered: 07-2007
Posted on Monday, August 11, 2008 - 8:59 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I guess the key is to buy a few politicians like everyone else is doing. You're not white are you?
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Detroitnerd
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Username: Detroitnerd

Post Number: 2927
Registered: 07-2004
Posted on Monday, August 11, 2008 - 9:10 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Don't have to answer Lefty's baiting. He's a master baiter. ;)
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Mwilbert
Member
Username: Mwilbert

Post Number: 328
Registered: 11-2007
Posted on Monday, August 11, 2008 - 10:40 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

It's a silly question anyway--buyable politicians tend to care only about the color of your money.

(Message edited by mwilbert on August 11, 2008)

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