Middle Market Digest-The Midwest

GlobeSt.com has written a great deal about the revival in Detroit. The downtown office market has attracted hundreds of new tenants in just the past few years, and regional corporate titans, led by Quicken Loans, have renovated dozens of towers in the CBD. New downtown sports stadiums for the Detroit Tigers and Detroit Red Wings have given the urban core an extra bit of flash, and thousands of new residents, including many millennials seeking an urban lifestyle, have sent the apartment vacancy rate down to almost zero. In addition, the industrial market in this Rust Belt region has been setting records for new absorption, construction and occupancy levels.

However, most of this activity is confined to either the downtown and riverfront, or the metro region’s vast suburban area. Left behind, it seems, are the in-between neighborhoods that form such an important part of the city’s history. But as reported below, Mayor Duggan has several initiatives that, with the help of big players such as the AFL-CIO and JPMorgan Chase & Co., seek to bring these areas back to life. It’s going to be a big job. Some areas, even ones adjacent to the downtown, have suffered so much from neglect and so many demolitions that they resemble rural small towns rather than dense urban neighborhoods.