Post Number: 2
|Posted on Friday, January 19, 2007 - 12:35 pm: || |
http://www.crainsdetroit.com/a pps/pbcs.dll/article?AID=/2007 0119/REG/70119002/1011
Maybe with this type of money, we can finally get our neighborhood problems solved!!!! Whatcha think?
Post Number: 806
|Posted on Friday, January 19, 2007 - 1:40 pm: || |
$12 million, when looking at the total net worth of Detroit's housing and infrastructure is really not much. Most banks are required by law to fund mortgages in lower income areas.
Sorry I can't get to excited over this, though investment in general is a good thing.
Post Number: 3
|Posted on Sunday, January 21, 2007 - 1:29 pm: || |
2 or 3 million dollars would go a LONG why in an area like Brightmoor or the Northend. Maybe not so much in EEV, but if that money could be used to bring in some commercial ie Chilli's, Fridays, the people over there would be estatic and that would even help me out in Berry. I would have to go all the way to Harper Woods to get family dining.
That money is not just for mortgages like CRA provides for. ShoreBank is a development bank, so this money will go for retail and housing
Post Number: 28
|Posted on Sunday, January 21, 2007 - 1:47 pm: || |
Baby steps - every project and $12M here or there helps build something. Midtown and downtown have that going, now if that can branch into some other neighborhoods its good to hear and hope for.