Tag: detroit
-
Value Capture and Joint Development
What does real estate have to do with public transportation? Actually, quite a lot. From Michigan Central Station in Detroit to the Hudson Terminal, Helmsley Building, and Hotel Pennsylvania in NYC, American railroads of the 20th century maintained a profit partly due to the transportation hub real estate assets they developed, owned, leased, and/or maintained vis-a-vis value…
-
Detroit Goes Bankrupt?
Detroit filed for bankruptcy. City planners received this news with shock and dismay, like the death of an ailing uncle, the conversations around the water coolers made it sound like the City was living on borrowed time. But the big question is why? Why Detroit, which in the 1950’s was the nation’s fourth largest city, with a population of 1.8 million, was allowed…