If I’m not mistaken, the state of Michigan took control of the city... would these “signs of recovery” be anything more than just the results of state dollars being poured in for those new streetlights?
Yes they would, the investors purchasing all the vacant properties will now be responsible property tax payers, creating a revenue source that has been absent up till now.
And in case you missed it,
Detroit Red Wings owner Mike Ilitch and his family released Sunday in a press release plenty of details about a bold $650 million plan to build a new hockey arena and entertainment district downtown
The investment, expected to transform downtown, will include "tens of millions of dollars in public infrastructure improvements" such as lighting, sidewalks, green spaces and streets concurrently with arena construction, according to a press release.
Ilitch's private investment of at least $200M for new, mixed-use development is expected to help transform dozens of blighted blocks into five new neighborhoods.
The project, expected to be completed in the summer of 2017, is expected to generate at least $1.8 billion in total economic impact, 8,300 construction and construction-related jobs and 1,100 permanent jobs.
You don't rebuild a city over night and the investors who are snatching up properties from downtown outwards are fully aware of that fact.