Detroit, once known for its urban decay and financial struggles, is experiencing an unexpected real estate boom, attracting investors seeking high returns on low entry costs. Despite challenges like crime and the need for renovation, the city’s revitalization efforts, driven by major players like Dan Gilbert and Ford, are reshaping Detroit’s skyline and attracting new residents and businesses.
PBA Group of Companies (PBA) and Concord Hospitality are embarking on a transformative project that will revitalize the former Canadian Centre office building into an Element Hotel by Westin, offering 226 extended stay suites in the heart of Downtown Calgary. This conversion underscores the importance of repurposing buildings for sustainable urban renewal and aligns with Calgary’s goal of enhancing downtown residential and recreational spaces.
Calgary’s inner city is undergoing a significant transformation as older homes are being demolished to make way for new developments. However, a growing trend is emerging where a small but significant number of these homes are being spared and relocated to new locations. According to city statistics, approximately 5% of the homes being removed from sites are being moved rather than demolished. This trend is driven by factors such as: demand for recycled homes, the high cost of new construction, and the desire to preserve heritage structures.
Detroit’s recent hosting of the NFL Draft, attracting a record-breaking number of fans, is a testament to the city’s remarkable transformation. Once a symbol of urban decline, Detroit has emerged as a vibrant hub of innovation and revitalization, attracting new residents, businesses, and investors.
Plans to attract high-rise residential projects to South Brisbane have failed to gain traction, with only one application received in six months. Despite state government approval to encourage dense living up to 90 stories, the Kurilpa plan has seen little interest. Councillor Trina Massey has called the plan a ‘dud,’ while Lord Mayor Adrian Schrinner attributes the lack of applications to feasibility challenges in the construction industry.
Cleveland’s Site Readiness for Good Jobs Fund has acquired a 10-acre property, including the vacant Wellman-Seaver-Morgan factory, with plans to explore new uses for the site. The fund aims to assemble and acquire 1,000 acres of vacant industrial sites to create 25,000 jobs in its first 15 years, revitalizing neighborhoods and bringing new wealth to the city.
