Quote:
Originally Posted by TorontoDrew
Why is Detroit building any new buildings where there is such a massive stock of empty buildings that could use a lot of TLC?
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Quote:
Originally Posted by brad0022
It can be much cheaper to build new than to renovate.
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That and location. Like any city, the most desirable areas are nearer to more amenities/places of work.
The QLine on Woodward, 3-4 stadiums downtown, hundreds of bars and restaurants, increasing retail, and of course, where 100s of thousands of people work everyday means that demand downtown has gone up quickly and the supply of buildings needing TLC dropped just as fast. Sure there's still lots of vacant buildings several miles out from downtown needing restoration, but what would be the catalyst for restoring a building several miles out if there's still space closer downtown to be built on?