Detroit showed itself off to advantage at a recent event attended by the nation's movers and shakers.
Excerpt:
"In May, J.P. Morgan Chase & Co. said the bank would invest $100 million over the next five years in the city. Other companies, foundations and the state of Michigan pledged more than $800 million over 20 years to help protect the city-owned Detroit Institute of Arts from possible sale...
Residential vacancy in the city's downtown and midtown neighborhoods is low as office space has begun to fill up, driven in large measure by dozens of buildings acquired and renovated by Quicken Loans founder Dan Gilbert. As part of the event Thursday, premium grocer Whole Foods said it was searching for a second location in the city after opening its first store last year.
"It's much better after the bankruptcy than before," investor Warren Buffett told an invitation-only crowd.
Last year, the chairman and chief executive of Omaha, Neb.-based Berkshire Hathaway said Detroit had huge potential for investors, saying he would be open to buying business in the city. On Thursday, he said in a staged conversation with Mr. Gilbert that he once considered buying the Ambassador Bridge that connects Detroit across its namesake river to Canada and wouldn't rule out future investments in the city."
More
here.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.