Freshly written corporate checks are only part of what’s needed to answer the call from Detroit neighborhoods that are among the last to experience new investment.
Strategies including sustainability, market research and community support are the formula for effectively matching finances with housing and business initiatives that reflect resident interests, experts say. Among the challenges for more conscientious developers and investors is striking a balance between their visions and the collective needs of neighbors who don’t want to feel like visitors to their own homes.
A collaborative of such experts, including local developers and funding partners, has begun sharing their visions for promoting sustainable neighborhoods that lack significant resources.
The combined efforts of the Detroit Strategic Neighborhood Initiative (DSNI), which includes Invest Detroit, Detroit Development Fund and Opportunity Resource Fund, are expected to make a positive impact in District 2 and throughout the city well into the future. Representatives of the three investment agencies shared with TheHUB some of their current plans for the community, including a $10-million investment in each of three targeted areas across the city.