Housing, shopping, office and entertainment projects are announced almost weekly as the city enjoys the benefits of a strong regional economy, fresh leadership and business activism. Yet Detroit's economic problems remain formidable. The decline in real property values in the city during the past 30 years shows signs of stopping but has not yet abated, largely because of continued abandonment. The city's share of shopping activity is the lowest of any of the 80 largest metro areas in America.
Residents pay a much greater share of their income to government than other people in the state.
Land assembly for new malls and subdivisions remains a confounding problem. This series of Detroit News articles will explore how Detroit leaders can capitalize on its opportunity by understanding where the city stands competitively, taking steps to lower the costs of living and doing business, and continuing to reform the bureaucracy. Detroit has taken giant steps in its comeback, but barriers remain on the road to renaissance A billion dollars here, a billion dollars there, and suddenly there's serious talk that Detroit is making a comeback. Amazingly enough, company Chairman Peter Karmanos is thinking of a place in the heart of downtown Detroit, perhaps on the Kern Block, the vacant site of a former Crowley's department store. The last living vestige of Joseph L. Hudson's downtown retailing empire has called for the moving van.