Michigan's Governor Rick Snyder announced $300 million in financial aid from from federal, state, and private foundations in the campaign to resuscitate the bankrupt city of Detroit. The small infusion of funds is expected to be used for improving transit and making "blight improvements."
The effort represents a unique strategy designed to accelerate revitalization efforts by simply tearing out vacant buildings. Noted as a process of "creative destruction," the hope is that new people, new enterprise and investment, new buildings, and modern transit will attract young people and start-ups to an affordable major market with plenty of open spaces to build into a new future.
The effort represents a unique strategy designed to accelerate revitalization efforts by simply tearing out vacant buildings. Noted as a process of "creative destruction," the hope is that new people, new enterprise and investment, new buildings, and modern transit will attract young people and start-ups to an affordable major market with plenty of open spaces to build into a new future.
Will history, tradition, and architecture go the way of the bulldozer, or does anyone really care when your town is over $18.5 billion in the hole? In the last 60 years, the city has lost over 60% of its population, down to around 700,000 from over 1.85 million in 1950.
The effort could generate a scalable model for small U.S. cities also finding themselves irretrievably frozen in the past.
The effort could generate a scalable model for small U.S. cities also finding themselves irretrievably frozen in the past.
To read more on this topic..... use this link http://www.bloomberg.com/news/2013-09-27/obama-set-to-deliver-320-million-to-aid-bankrupt-detroit.html
RSS Feed
