By CBS Detroit
Dan Gilbert has spent well over $3 billion in the Motor City the past several on buildings and more with bigger plans ahead.
That from Matt Cullen principal of Gilbert’s Rock Ventures who appeared with Carol Cain, Senior Producer/Host of CBS 62’s “Michigan Matters” to talk about the game plan.
Cullen also offered thoughts on the process involved in pulling the region together on Detroit’s bid for Amazon’s new headquarters. It is among many cities across the nation including Grand Rapids that also did the same. A decision isn’t expected until 2018.
Then, the roundtable of Marvin Beatty, entrepreneur, Arthur Jemison, newly named CEO of Detroit Economic Growth Corp, and Maurice Jones, President & CEO of LISC, a national non-profit helping communities in Detroit and other cities with housing and economic development in underserved communities, appeared with Cain to talk about the neighborhoods.
Jones discussed LISC’s new community investment strategy in Detroit which includes $75 million to finance thousands of affordable homes, businesses and jobs in underserved neighborhoods.
He and Tahirih Ziegler, executive director of Detroit LISC, announced the investment at an event held recently at the Charles H. Wright Museum of African American History. Called the new Equitable Impact Investment Fund, it doubles LISC’s traditional investing and is expected to leverage more than $225 million in total development activity over the next three years in the 10 neighborhoods identified in the city’s development strategy.
Beatty talked about investing in Detroit and how it has been ramped up in recent years with Meijer and others getting in the mix.
Jemison, who will take over Detroit Economic Growth Corporation in December, is transitioning from his post as the person running Detroit’s Housing Department. He mentioned the importance of housing when it comes to economic development.
The conversation also included a robust discussion about what’s ahead in the effort to provide and have more affordable housing in Detroit.
Jones talked about a new comprehensive map of development in Detroit exclusive to TheHub of Detroit. It pinpoints neighborhood and affordable housing development and more.
Detroit LISC has been working with Jackie Berg, publisher of TheHub of Detroit to elevate focus on neighborhood developments, specifically pinpointing investments and tracking affordable housing activity on what it calls “The Map.”
That map shows there is far more development taking place in Detroit than there has been in many years.
You can hear the conversation by watching “Michigan Matters” 11:30 am Sunday only on CBS 62.