Demand for housing in downtown Detroit continues to increase at a rapidly growing rate. A new report conducted for the Downtown Detroit Partnership shows demand for housing has grown by 35%, creating a need for 10,000 new units within the 5 years. Partnership C-E-O Eric Larson says most of the demand is from residents who do not have children living with them.
“Significant amount of demand, most of that is driven by empty nesters or retirees or singles. So 90% of demand is in that segment. About 10% is more traditional families” -Eric Larson
Larson says once an area has a density of about 10,000 people per square mile, improved infrastructure, schools and other neighborhood amenities tend to follow.