The promise of downtowns riverfront is playing a key role in the largest municipal bankruptcy in U.S. history. In recent weeks, the last two major holdout creditors agreed to stop battling the city in exchange for, among other things, prime pieces of riverfront property. Its another sign the waterfront seems, again, poised to attract upscale development from the Ambassador Bridge to Belle Isle, said players in the downtown development scene. Its simple economics: The creditors need the riverfront property to generate income.
Posted on: Tue, 21 Oct 2014 11:05:11 +0000
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