  6nois Member Username: 6nois Post Number: 175 Registered: 11-2006 |
Okay for some time I have been looking for something unique and a hands on experience, all bundled with in someplace to live in Detroit. I haven't really found it, but I have this pipe dream idea and I want to know what you think. The dream is to buy an apartment building in a depressed neighborhood and turn the first floor into a gallery and office space, using the remaining floors to create bedroom/studio units, with their own bathrooms and a common living cooking area for the floor. The hope is to create dynamic community of 15-20 students from the University of Detroit Mercy School of Architecture (open to DMS students as well), Wayne State Arts Department, and The College for Creative Studies. These students would live and work at the building year round, helping in the restoration and maintenance of the building, and working to improve a depressed section of Detroit. That would be the dream, but I am looking for feedback on what you think. Any comments, questions, etc would be great. | ||
Yooper Member Username: Yooper Post Number: 28 Registered: 12-2006 |
When can I move in!? LOL. | ||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 257 Registered: 11-2005 |
Found it! its perfect, check it out... http://www.realestateone.com/c ontent/PropertyDetail.asp?list ingNumber=e27023445 | ||
Gibran Member Username: Gibran Post Number: 225 Registered: 02-2007 |
I also had that dream about a place like that in Tulsa... follow your dream | ||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 258 Registered: 11-2005 |
If you want a somewhat stabler area this one on glynn court looks promising, (work with the northern community...) http://www.realestateone.com/c ontent/PropertyDetail.asp?list ingNumber=e27017777 | ||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 259 Registered: 11-2005 |
And if you want minimum renovations at a good price this smaller building would suit you nicely. http://www.realestateone.com/c ontent/PropertyDetail.asp?list ingNumber=e27042487 | ||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 260 Registered: 11-2005 |
I am just into looking at real estate no real motive behind the properties. I am sure I will find many more in the coming days.  | ||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 261 Registered: 11-2005 |
Ok Last one I cant help my self.. W. Grand and 94 http://www.realestateone.com/c ontent/PropertyDetail.asp?list ingNumber=e27009447 | ||
Fury13 Member Username: Fury13 Post Number: 1566 Registered: 10-2003 |
Ahhh, the naivete of youth.... | ||
6nois Member Username: 6nois Post Number: 177 Registered: 11-2006 |
I have to laugh I saw that first one and thats when the idea came to mind. Really in looking I dont want a stable neighborhood because the idea is to use the artist commune to create a new stable neighborhood out of one that was not stable before. | ||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 262 Registered: 11-2005 |
I think its a great idea there is som much potential in these neighborhoods it just needs to be harnessed. | ||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 263 Registered: 11-2005 |
Also when I think of an area that was once really beautiful that now is in disarray I think of Dexter Blvd, Although I did not see any buildings for sale on dexter I am sure if you just drive down that street you would definitely find some. Good Luck.. | ||
Exmotowner Member Username: Exmotowner Post Number: 250 Registered: 06-2005 |
Do you guys think that the new casinos over by the lodge side will help that area (dexter/linwood)? that area has been so bad for so long. Do you think it will come back? | ||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 264 Registered: 11-2005 |
No, casinos will focus primarily south of grand river and would never go up as far as dexter and linwood. My family has lived off Linwood on Lothrop for 60 some odd years and I get frustrated that there is not even a housing non profit that helps with that area. This is an area that could benefit greatly from community development and has the chance to be a great community! But due to the destruction that came about from the riots, it will take mass investment of time and money to make even a small impact. | ||
Exmotowner Member Username: Exmotowner Post Number: 251 Registered: 06-2005 |
Those apt. buildings shown here, I assume have all the wiring, plumbing, anything copper or of value probably already gone right? So bringing them back would cost WAY more than actually purching the property??? | ||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 266 Registered: 11-2005 |
the third one is still over towards that area and boasts. This Building Has Been Maintained In Pristine Condition. All Units Have Been Updated, Carpeted And Equipped With Security Doors. The Exterior Is Perfect. Separate Gas Forced, Air Furnaces And Separate Electrical Meters. Excellent Return On Investment. The Glynn court seems occupied so it would still have most of the original things I would assume. The fourth says it was appraised at 290 last year and is on west grand which makes it a little more stable but needs many updates but the price cant be beat. so really the second and third are the most feasible but i would say all have the potential and yes there would be some costs but if it was a handy commune that utilized the trades of its residents then it could be done. if you have 18 units or more tenants would only pay 70 dollars a month but would each pay say 300 for repairs each month and soon you have refurbished most units within two years... putting over 129,000 into the building within two years. So it is risky but if you can work with a non profit maybe such as architectural salvage you may be able to get incentives as well as get maybe local schools such as wayne and UDM and Lawrence Tech and CCS involved it could become a very successful project that has a bit of potential. I am not saying its easy by any means though. |
