The word “renaissance” is used often in Detroit. It fits nicely with the city’s motto: “We hope for better things; it will rise from the ashes.” Judging by the good things in the past few years, the renaissance is real. Those who doubt it should look again: at the new businesses, the events, the crowds…
Dana Morris has lived in Detroit’s Fitzgerald neighborhood off and on her entire life, and she’s watched her block on Prairie Street deal with many of the same problems faced by other disinvested areas of the city. Over the years, Morris and her neighbors (many are relatives) have kept up the block: mowing the empty…
Three years ago, Atkinson Street became a test case for a pair of successful millennials who wanted to see how much change they could create on one Detroit street by purchasing blighted homes and renovating them. Their plan to focus on one street appears to be working and now city officials believe the pair’s work…
Note: you must register for or subscribe to Crain’s Detroit Business to read this article. Two years ago, David Alade was building a comfortable career in New York City as an investment banker at Credit Suisse Securities LLC. The 29-year-old Queens native was managing asset transactions in the automotive, equipment, student loan and credit card…
What do you hope for Detroit in 20 years? Colom: I think we’ll see some diverse neighborhoods filled with people biking around. I think we’ll see some young children living in the neighborhoods, because once they resolve the state control of the public education system, a lot of innovative thinking will come here like it…
When we talk about investment in Detroit, the likes of Dan Gilbert or Christopher Ilitch come to mind. Certainly Gilbert has led the way in buying downtown buildings, reshaping the look of downtown Detroit. But today, we’re going to look at investment in Detroit’s neighborhoods. Andrew Colom and David Alade both gave up jobs to move to…
Andrew Colom, 33, and David Alade, 29, ditched jobs in real estate and banking to start Century Partners, a development firm aimed at revitalizing neighborhoods in the Motor City.
WJBK) – Detroit’s economic climate is changing for the better, and one area we’re keeping our eyes on to hopefully see more growth, too, is the neighborhoods. What if everyday people could own equity in their neighborhood’s resurgence? With this new business model, a development company is trying to share the wealth. David Alade and his…
In Detroit, many of the brick mansions built in the boom days of the auto industry have fallen into neglect and disrepair. Even just a few blocks from the construction site for the new Red Wings stadium, houses are gutted and crumbling. But in those rundown historic homes, Andrew Colom and David Alade, two college…
When developers fixed up a vacant house on Detroit’s historic Atkinson Street—refinishing the hardwood floors, adding stainless steel appliances, and bringing back the beauty of the classic brick home so it could be rented—some of the neighbors made a cut of those profits, too. In a new business model, the development company behind the renovation…