$18 Million To Be Invested In Detroit For Housing Development

By Author: Bruce Wills
Total Articles: 52
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$18 million to be invested in Detroit for housing development

Wayne County officials announced to spend $40 million in Housing and Urban Development projects and it is expected that at least $18 million will be invested in Detroit. The total investments include $4.5 million for the demolition program of deteriorated homes and it will be utilized for projects such as Adult Stem Cell Research Commercialization Center and Vet's support program in Detroit. The details of the various projects initiated in the county will be released in fifteen districts of the county.

Detroit new bridge will fetch $238.2 million revenue by 2035

Detroit river bridge project will provide strong revenue growth to the government, as per the study conducted by the Michigan Department of Transportation. The department was reluctant to release the data initially as it feared the data will affect its negotiation position with private companies but later the department agreed to give the data under the pressure of oppositions from the Republicans against the bridge plan.

According to the data released by DRIC, the revenues generated ...
... from the project will rise from $70.4 million to $238.2 million in 20 years of time period. The funds will be adequate for the government to pay back the bonds which the government has agreed to sign with the Canadian government. The Canadian government has planned to build the bridge and Michigan was not in a position to pay for its share of the bridge therefore ,Canadian government offered to pay $550 million for the Michigan's share of bridge and the money will be returned back to the Canadian government in the form of bonds.

Canada has planned to spend $2.3 billion to construct the bridge, the freeway and the plazas close on the borders of the country and it was also informed that the old Ambassador Bridge will lose traffic and even revenue as the new bridge is constructed. The construction project on both sides of the river will also create thousands of new jobs.

Official bidding for Detroit's Tiger Stadium site

Detroit had biddings for foreclosure properties and investment properties and now, officially the bidding for the Tiger Stadium site has been announced by the Economic Development Corp. which informed the land on the corner of Michigan Avenue has no restrictions but the bidders should include a financial plan. The attractions of the site are that it has been exempted from local and state tax for twelve years.

For bidding against bank owned properties in Detroit one can contact Mayfair Group's website which provides cheap foreclosure properties that is totally managed by the local partners of the group.

For more information log on to Detroit Property Investment,Mayfair Group or Mails us at-info@mayfair-group.com, myfairgroup@gmail.com, webmaster@mayfair-group.com