- Created: Thursday, 19 July 2018 15:30
- Written by Laura Proescholdt
As Detroit emerged from bankruptcy and the Great Recession, locals sought an effective strategy to attract and retain employees of local businesses in the Midtown area, a thriving center for arts, education, and medicine. With rental, homebuyer, and homeowner incentives for employees of three major partner institutions – including Wayne State University, Detroit Medical Center, and Henry Ford Health System – Live Midtown was the anchor strategy among local efforts to revitalize the Midtown area and to attract and retain employees.
Photo: Artist market in Midtown Detroit (via Shop Dine Midtown)
Through subsidies for new renters, $20,000 five-year forgivable loans for downpayment assistance, and $5,000 grants for exterior improvement, Live Midtown played a major role in meeting those goals.
“From 2013 to 2015, Midtown Detroit had recorded its first increase in population in a decade, and this program is responsible for a portion of that," explains Christopher Hughes, Data Manager for Midtown Detroit, Inc., the entity that administered the program. "We had 791 participants, new to the Midtown area. If you account for household size, that’s a little bit over 1,200 new residents from this program alone over a five-year period. That's pretty substantial.”