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Crain's Detroit Business Living and Investing in the D 2011 LIDcover 2011.qxp 8/17/2011 4:44 PM Page 1 RAINS ETROIT USINESS CVol. 27, No. 35’ D Fall 2011B www.crainsdetroit.com $2.50 15 0 74470 87121 7 CDBmagazine.qxp 8/9/2011 4:09 PM Page 1 .Nbljoh . Mjwjoh!boe! Jowftujoh */5)&% #&55&3 4*/$& "OJOUFSOBUJPOBMXBUFSXBZBMPOH%FUSPJU±TNBHOJ¹DFOUTLZMJOF BNBHJDBMDBSPVTFM QMBZGVM GPVOUBJOT CJLFTUPSFOUBOECPBUTUPSJEF QBWJMJPOTBOEQMB[BTUPFOKPZ BNPSFUIBOUISFFNJMF 3JWFS8BML8IFUIFSZPV±SFBMPOHUJNF%FUSPJUFS BOPVUPGUPXOWJTJUPSPSPOFPGUIFPWFS OFXFNQMPZFFTUPEPXOUPXO%FUSPJUJOUIFMBTUGFXZFBSTBMPOF¬JU±TBMMZPVSTUPFYQMPSF Cf!b!Qbsu!pg!uif!SjwfsgspouÖt!Dpoujovfe!Usbotgpsnbujpo" 4&15&.#&35)gspn -* EFUSPJUSJWFSGSPOUPSH +PJOVTGPSUIFBOOVBM4IJNNFSPOUIF3JWFSGVOESBJTJOHHBMBUPTVQQPSU UIF%FUSPJU3JWFS'SPOU$POTFSWBODZ BOPOQSP¹UPSHBOJ[BUJPO EFUSPJUSJWFSGSPOUPSH4IJNNFS 20110822-SUPP--0001-NAT-CCI-CD_-- 8/18/2011 12:12 PM Page 1 Vol. 27, No. 35 About this issue Living and A renaissance – finally? Investing in the D was edited by etroit is riding a new wave Mortgages for buying condominiums is still working to clean up a battered Deputy Managing of investment — and in the city require navigating red tape — balance sheet and chart a new path. Editor Jennette interest. and record-low appraisals might hold up But if the perceptions of outsiders or Smith, designed by Assistant News Whole Foods Market is any residential purchase. The newest the new voices on the Detroit Editor Jeff set to open its Detroit iteration of the Detroit Works project — cheerleading team are any indication, the Johnston and copy store in 2013. Detroit- the plan to deal with the shrinking city latest round of economic development edited by Copy based mortgage mogul — has changed its model, focusing on deals and plans could mark real progress Desk Chief Gary Dan Gilbert is buying up short-term intervention while delaying on a renaissance — one that’s been in Piatek, Johnston, landmark buildings, and apartments in the promised long-term land use plan the works for decades. Copy Editors Vic many pockets of town are nearly full. A until at least 2012. The short-term This year’s report, the sixth annual Doucette and Mark Whitney, and Web critical mass of projects, plans and prescription alters the mix of city edition of Living and Investing in the D, Editor Gary momentum is generating attention from services delivered to neighborhoods examines the projects that are Anglebrandt. Dnational media. based on an assessment of the changing the face of Detroit. Articles were But Detroit’s long road back is still strengths and needs. Jennette Smith written by Crain’s largely a work in progress. Meanwhile, the Detroit Public Schools Deputy managing editor reporters Nancy Kaffer, Daniel Duggan, Sherri Welch, Tom Henderson, multimedia reporter Nathan Skid and editorial Table of Contents interns Ellen Mitchell and Taking a new look Building from Getting to work Places to watch Michelle Muñoz. Ⅲ Can East Jefferson be Freelance writers Ⅲ The man who the inside out Ⅲ Neighborhoods get a were Jon Zemke, the next Midtown? Marti Benedetti rebuilt South Ⅲ Dan Gilbert’s landmark boost Page 33 and Maureen Beach weighs purchases. Page 10 from McDonald. in on Ⅲ The New Economy “house Ⅲ Eastern Photographers Detroit’s Initiative has spent $54M flipping” Market: were Skid, potential. of its $100M kitty. What’s close to Tuesdays, multimedia intern Page 2 next? Page 11 home. tilapia and Josh Sidorowicz Page and freelance Ⅲ How passion drives more. Ⅲ Media hits: 24 Page 35 photographers National press investment. Page 12 David Dalton, Ⅲ Brendan Ross, commentary on Hot spots: Where John Sobczak, the Motor City. friendships are forged, Ⅲ Need a mortgage to buy Ⅲ Midtown Detroit Noah Stephens Page 4 bread is broken and a Detroit home? It’s no expands its reach. Page 36 movers and shakers share and Glenn Triest. Venture For easy task. Page 26 Ⅲ Nathan Skid’s Table Videos were America rolls ideas. Page 13 Ⅲ Microfinancing: Thinking produced by Talk: A restaurant reboot in Sidorowicz. Web out in Detroit. outside the bank. Page 27 the D. Page 38 Page 6 The Ultimate List: Go-to Developer Steve grass-roots groups, civic An industrial revival plan. Ⅲ Jennette Smith: Editor’s Williams Detroit Revitalization initiatives, resources for Page 29 notebook, Page 40 coordinated online fellows bring fresh ideas. elements. entrepreneurs and Page 8 more. Page 17 CRAIN’S DETROIT BUSINESS ISSN # 0882-1992 is published weekly, except for a special issue the third week “Spirit Renewal” is the title of January, a special of this work by Detroit artist issue the fourth week Charles McGee. Dedicated of August, and no issue the third week in April at the Rackham of December by Crain Educational Memorial Communications Inc. Building across from the at 1155 Gratiot Ave., Detroit MI 48207- Detroit Institute of Arts, the 2732. Periodicals 8-by-22-foot aluminum postage paid at Detroit, MI and additional sculpture is part of the mailing offices. Midtown Loop Greenway POSTMASTER: Send Public Art Plan. It inspired a address changes to CRAIN’S DETROIT design motif (see top of BUSINESS, Circulation page) used throughout this Department, P.O. Box year’s Living and Investing 07925, Detroit, MI 48207-9732. GST # in the D. 136760444. Printed in NATHAN SKID/CRAIN’S DETROIT BUSINESS U.S.A. Entire contents copyright 2011 by Crain Bonus map Video extras Celebration time Communications Inc. Ⅲ Which Ⅲ Check out the latest in Midtown, The annual party that All rights reserved. projects are Corktown and Eastern Market. showcases what’s great about Reproduction or use of editorial content in any moving the Ⅲ There are new employees in town. What do living and investing in the D, manner without needle? they think of working in the D? with cocktail parties and an afterglow, is set for Sept. 28. permission is strictly prohibited. Page 17 Watch the videos, crainsdetroit.com/LID Details, Page 28 CRAIN’S DETROIT BUSINESS FALL 2011 Page 1 FALL 2006 20110822-SUPP--0002,0004-NAT-CCI-CD_-- 8/18/2011 11:13 AM Page 1 LIVING AND INVESTING IN THE D | TAKING A NEW LOOK Frontier spirit Urban redeveloper has ideas to remake Detroit Hear Goldman BY DANIEL DUGGAN ty, energized by a grassroots element his ideas will gain traction. CRAIN’S DETROIT BUSINESS ready to be energized.” Mayor Dave Bing is willing to lis- speak Rishi Jaitly, Detroit program direc- ten, said Dan Lijana, a communica- ive city-owned houses away to tor for the Knight Foundation, said tions manager in Bing’s office. in November anyone willing to live in them. the group brought Goldman to De- “Mayor Bing is receptive to the Tony Goldman, Make public spaces into troit to gain ideas and lessons from ideas of entrepreneurs and the cre- chairman and open canvases for artists. his experience and past projects. ative community,” said Lijana. “We CEO of New Get back to the idea of an un- “Given his ‘I’ve done it before’ welcome the ideas of developers ... York-based settled America that drew peo- credibility, we’re paying very close who have an interest in investing in Goldman ple to the West during the gold attention to his good ideas that align the city.” Properties, will rush — and use that idea to en- with our goals,” he said. For Detroit, it will be about the be a speaker at ergize Detroit with artists. Jaitly stopped short of saying concept of “frontiership,” Goldman the University Those are a few of Tony Goldman’s said, and finding ways to engage peo- of Michigan/ whether there is more in store with Urban LandGbold ideas on remaking the city. Goldman and Detroit. ple in the city’s revival. Institute Real A big-picture thinker known for un- Goldman said he’s at a decision “There’s not enough money in the Estate Forum’s conventional ideas — also noted for point on whether to come to Detroit, budget of the United States to rebuild 25th annual recognizing and redeveloping and it’s all about whether he thinks See Page 4 event Nov. 9 at unloved urban areas — Goldman took Cobo Center in a tour of Detroit in May and is consid- Detroit. ering whether to storm through the In recent years, city to enact some of his plans. the forum has His track record? been held in He was among the first developers cities around to take on New York’s SoHo neigh- the state. This year’s theme is borhood. He later went into Miami’s “Forged by South Beach at a time when the Innovation.” Florida city’s Art Deco buildings Goldman, were populated by drug dealers. known for his Also on Goldman’s résumé: New work as an York’s Wall Street financial district; early investor Center City in Philadelphia; Miami’s in urban areas Wynwood and downtown Boston. poised to grow, He was invited to Detroit earlier will discuss this year as part of an effort by the Detroit and his Miami-based John S. and James L. ideas for the city’s Knight Foundation to engage him in redevelopment. the process of redeveloping the city. He toured the “Detroit can be the artistic Berlin city in May and of the United States,” said Goldman, gave several chairman and CEO of New York- speeches in based Goldman Properties. “Like what small settings. Paris was in the 1960s; a place where Crain’s is a artists can go, vibrant with creativi- sponsor of the annual event. Go to www. umuliforum Anyone who gives .com for more information. permission for an old building to be torn down should be thrown in jail COURTESY OF TONY GOLDMAN and beaten with a cane. Tony Goldman, shown in New York, might bring his urban renewal ideas Tony Goldman, Goldman Properties to Detroit. Page 2 FALL 2011 CRAIN’S DETROIT BUSINESS FALL 2006 FAL 20110822-SUPP--0004-NAT-CCI-CD_-- 8/18/2011 12:17 PM Page 1 LIVING AND INVESTING IN THE D | TAKING A NEW LOOK Mixed media messages Decay, revival, energy all part of Detroit’s image n recent months, Detroit has Here, you can now see artists working lieve in this city’s future.
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