Detroit Today

$40 Million Investment in Pontiac Planned

Monday, Aug. 18, 2014

There is planned investment of more than $40 million to develop downtown Pontiac. Crain's Detroit Business's Kirk Pinho joins Detroit Today to talk about his article in Crain's Detroit Business this week.

A group of more than 50 private investors, entrepreneurs and Pontiac supporters who are forming an investment pool to spend between $40 million and $50 million on a series of redevelopment projects in Pontiac, according to Kirk Pinho in Crain's Detroit Business.

Matt Farrell, Executive Principal of Birmingham-based Core Partners Associates LLC, told Pinho,

"Detroit and Midtown have done an amazing job of repositioning themselves, and coupled with the continued success of Royal Oak and Birmingham, it seems only logical that Pontiac is poised for a new start."

A group of private investors have committed to pooling financial resources on a series of redevelopment projects for the historic but underused area that will now be called Indian Hill.