For today’s article, I want to highlight an area that I love investing in. Fitzgerald area in Detroit is fast becoming one of Detroit’s “go-to” suburbs. The city of Detroit have but together a plan to revitalise the entire area. Read on for more details and click the link below for the full story. Very apt given today’s – Deal of the Week as well! This is also an area we are heavily invested in and helping with the revitalisation.
The vision for the Fitzgerald Revitalization Project is to transform a quarter square mile area by addressing every publicly owned vacant lot and house. Removing blighted structures, beautifying vacant lots and creating homes for new residents will contribute to stabilization, increased property values, and improved quality of life. The City of Detroit has developed a three-part implementation strategy to create a sustainable model for transforming and maintaining all parcels within the Fitzgerald Project Area:
Creation of a neighborhood park and greenway to be maintained by the Parks and Recreation Department
Development of economically self-sustaining, productive landscapes in partnership with one or more Productive Landscape Developers or Development Teams (Productive Landscape Development RFP)
Rehabilitation of all salvageable, publicly-owned structures and implementation of low-maintenance landscape strategies in partnership with a Housing Developer (Housing Rehabilitation RFP).
The Fitzgerald Project Area identified within the larger Fitzgerald neighborhood was selected for this pilot because of the concentration of publicly-owned vacant lots and homes. This smaller project area also allows for the overall impact to be focused in a walkable, quarter-square mile area.
To start the project, the City of Detroit commissioned an award-winning landscape architecture firm, Spackman Mossop & Michaels (SMM), to work with the residents of the Fitzgerald Project Area to create a Neighbourhood Framework Plan. SMM assessed the range of existing conditions and created a flexible, interstitial landscape plan to activate and improve vacant land parcels in a way that addresses every publicly-owned parcel in the project area. The plan incorporated feedback from residents on current neighbourhood issues as well as amenities and uses they would like to see in their neighbourhood. The plan provides a framework that balances the needs for greater open space, community gathering and recreation, opportunities to develop new productive landscape projects, and the sustainability of long-term maintenance.
When looking for rental properties, there are certain areas which offer a higher return on investment than others. Rental properties in areas that show prominent and steady job growth, population growth, and affordable cost of living are generally going to turn a bigger profit than a property in a high poverty area with little to no job growth.
Luckily, the United States seems to be chock-full of cities that match this description.
So where are these cities considered to be a best-buy? The top five cities to invest in stretch across the United States in various states showing that you don’t have to be on one particular cost to create a profitable rental portfolio.
The property experts at Zillow, the leading real estate marketplace in the United States, share their tips for Australian home shoppers looking north.
Maybe you fell in love with a new city while on holiday in the US. Maybe you’re itching for a new experience. Or maybe, after observing the American dream from afar, you’ve decided to pursue it for yourself.
Whatever the reason, you’ve decided to move to the land of opportunity. But the prospect of navigating a foreign tax system, calculating extra administrative costs or learning about a completely different housing market can feel overwhelming.
For Australians looking to buy a home abroad, here are tips to keep in mind.
MADELEINE WEDESWEILER DOMAIN REPORTER FEB 21, 2017
For first home buyers and investors locked out of the property market the grass may be looking much greener in the United States.
Prices in Australian cities are as high as they’ve ever been with Sydney’s median house price hitting $1,123,991, according to Domain Group data.
Even the median price in New York City is much cheaper than Sydney’s at $US626,600 which in Australian dollars is $829,179.
Patterson Lakes VIC 3197
03 9773 4767