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Detroitbill
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Username: Detroitbill

Post Number: 73
Registered: 09-2006
Posted on Thursday, November 02, 2006 - 7:03 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Downtown Detroit In Focus:
A Profile of Market Opportunity

by The Urban Markets Initiative, Brookings Institution Metropolitan Policy Program, The Social Compact, Inc, and University of Michigan Graduate Real Estate Program
October 2006

FullReport in PDF (125KB)






Fifteen years ago, downtown Detroit was a traditional central business district (CBD) dominated by office users and offering little else, such as housing, entertainment, or retail. Over the past decade, more than $15billion has been invested downtown by the private and public sectors, according to the Tourism Economic Development Council, building two new professional sports stadiums, live theater and opera venues, gaming casinos and hotels, major new Class A offices for General Motors and Compuware, rental residential, retail, restaurants, and nightclubs. As a result of these investments, the character of downtown Detroit has fundamentally changed.

Given these changes, the Brookings Institution Metropolitan Policy Program Urban Markets Initiative, The Social Compact, and the University of Michigan worked together to evaluate the market size and potential of downtown Detroit. These three organizations used progressive analytics for downtown development to create this report. Most notable is the DRILLDOWN technique, one that is field-proven in leading urban markets such as Washington D.C., Harlem, and Oakland, to quantify opportunities in downtown Detroit. The progressive analytic methods used in this analysis for downtown development incorporated best practices in market research and new ways in which communities are now analyzing their unique data.

Using these market analysis techniques, this report finds the following opportunities in downtown Detroit:

An increasing downtown population with growing incomes
Strong, continued demand for residential construction and conversion
An underserved retail market for groceries and consumer goods such as clothing and clothing accessories, electronics and appliances, building materials and garden equipment, furniture and home furnishings
A thriving critical mass of urban entertainment venues and quality public space
In sum, downtown Detroit has the market foundation to become a vibrant, 24-hour residential, commercial, and entertainment district. With additional and strategic investments in retail and housing, downtown Detroit has the potential to be a strong center for its region.
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Dan
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Username: Dan

Post Number: 1303
Registered: 10-2003
Posted on Thursday, November 02, 2006 - 8:03 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Where is the full pdf?
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Thnk2mch
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Username: Thnk2mch

Post Number: 483
Registered: 02-2006
Posted on Thursday, November 02, 2006 - 8:24 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Try this

http://www.brookings.edu/metro /umi/pubs/20061025_downtowndet roitinfocus.pdf
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Tomoh
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Username: Tomoh

Post Number: 265
Registered: 11-2004
Posted on Sunday, November 05, 2006 - 1:22 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Does anyone understand the graphic on page 19, "Perception of Travel Destinations by Midwesterners" ? It has "Trendy/Adult" vs "Family" on one axis and "Luxury" vs "Comfortable" on the other. Detroit is the only city that is Trendy/Adult and Detroit, Chicago, and Toronto are the only ones that are Luxury. The rest of the midwest is varying shades of Family/Comfortable. Whatever that means... I assume most travelers to those cities go with their families or for family functions and stay with friends/family rather in nice hotels.
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Charlottepaul
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Username: Charlottepaul

Post Number: 18
Registered: 10-2006
Posted on Sunday, November 05, 2006 - 1:34 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

not too sure what the orange circle is for, but what they are trying to show is that Detroit has more of a trendier adult destination perception than chicago, toronto, st. louis, cincinnati, minneapolis, indianapolis, cleveland, pittsburgh, milwaukee, or columbus
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Charlottepaul
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Username: Charlottepaul

Post Number: 19
Registered: 10-2006
Posted on Sunday, November 05, 2006 - 1:38 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I posted that before reading through the whole PDF, but this is quite a marketing tool for Detroit. It basically says that people would be stupid not to invest in or near downtown Detroit.
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Jjw
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Username: Jjw

Post Number: 193
Registered: 10-2005
Posted on Sunday, November 05, 2006 - 1:53 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

pg 19: Detroit leans more toward singles then families and Detroit is the third most costly to visit and live, behind Chicago and Toronto
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1953
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Username: 1953

Post Number: 1082
Registered: 12-2004
Posted on Sunday, November 05, 2006 - 7:08 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

It looks now as though Brookings may come back to Detroit to do a similar study city wide, the first of its kind globally.
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Eric
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Username: Eric

Post Number: 585
Registered: 11-2004
Posted on Thursday, November 09, 2006 - 10:05 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

What a great study. It proves what many here have felt, that downtown was capable of supporting more retail than most would give us credit.
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Llyn
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Username: Llyn

Post Number: 1703
Registered: 06-2004
Posted on Friday, November 10, 2006 - 11:17 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)


quote:

pg 19: Detroit leans more toward singles then families and Detroit is the third most costly to visit and live, behind Chicago and Toronto




More costly than NYC? That can't be right...

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