Since the end of the most recent economic recession, Detroit has seen a resurgence of investment in commercial, multifamily, industrial, and institutional real estate. Across Detroit, the dollar volume of construction and rehabilitation investments in these properties more than doubled from 2011 to 2015. Mission-oriented lenders and government subsidy programs have played a critical role in Detroit’s resurgence. Mission lenders further support real estate developers by providing technical assistance and debt financing to borrowers with limited access to conventional capital. Continued support for the mission finance ecosystem is needed to build on recent success, particularly in neighborhoods outside Greater Downtown.
The Tipping Point feature can be found here.
To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.