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I saw this initiative by the mayor of Detroit
Abandoned houses! Blighted neighborhoods! It all sounds so sexy thanks to a revitalization initiative put in place by Detroit Mayor Dave Bing, who’s incentivizing prospective buyers with $150K in renovation money, should they choose to scoop one of these properties off the market. As part of Bing’s program, police officers willing to move to Detroit only have to put $1K down, and college grads get $2,500 in rental money and a $20K forgivable loan if they do indeed buy something.
What do you think of this as a way of regenerating blighted areas?
Posted Feb 20, 2011