Since Detroit’s bankruptcy and the release of “7.2 SQ MI” in 2013, Greater Downtown Detroit has experienced a whirlwind transformation of its commercial real estate landscape. Corporate migration from the suburbs, new locations for regional and national retailers, and multimillion-dollar ground-up office, retail, multifamily, and hotel developments have solidified the city’s growth and resurgence. Additionally, as Midtown and Downtown have become increasingly competitive, users have begun to expand beyond the Downtown area.
This report looks in depth at the impact of development activity on the office, retail, and
residential markets. It identifies three key trends driving new development: job growth,
concerted coordination between local government and key developers, and dedicated new
investment by private and public entities.