Detroit Set To Benefit From New Strong Cities, Strong Communities Programme
On 11 July the Obama administration launched the Strong Cities, Strong Communities (SC2), which is a pilot initiative which aims to help cultivate economic growth in local communities, while safeguarding the taxpayers' dollars by ensuring that they're used wisely and efficiently.
Named as one of the six chosen cities, Detroit is set to benefit from the SC2 programme which is welcomed news for businesses in the area and the local community. Since the economic downturn the city of Detroit has seen the number of jobs, businesses and the price of housing decrease. In recent years the economy has shown signs of growth and it is expected to continue to flourish under the new government initiative.
To achieve goals set out in official guidelines, experienced staff with work directly with the six cities across the country to encourage economic growth. The government hopes that through integrating investments and partnering with local communities, SC2 will enable the resources of the federal government to be used correctly to target development and implement their visions for economic growth.
"Over the past two and a half years, the Obama administration received feedback from leaders all across the country who described the kind of partnership that would be most useful to them for economic growth," Domestic Policy Director Melody Barnes stated. "The result is Strong Cities, Strong Communities, an innovative new pilot that will help strengthen local communities while also delivering federal resources and assistance more effectively."
Senior Advisor to the President Valerie Jarrett also added, "This is exactly the kind of federal initiative that President Obama pledged to create €" one that respects the wisdom of local leadership, and helps mayors and other local officials utilise federal resources more effectively. President Obama has consistently demonstrated his commitment to a robust partnership with America's cities and counties. Strong Cities, Strong Communities is yet another example of this important partnership."
The new Strong Cities, Strong Communities initiative is set to improve employment levels within the city through the creation of new jobs. Businesses will be encouraged to work in conjunction with the government and the local community, helping to decrease the levels of unemployment. This no doubt will lead to a rise in demand for rental properties within the local areas.
Currently properties in Detroit have seen a drop of around 65% in comparison with 2006 prices and the city offers significant rental yields, with great capital appreciation potential in the medium to longer term.
For investors looking to profit from Detroit's recovering economy, pre-tenanted buy-to-let options have been a popular choice, as they provide immediate income in the short term as well as offering investors the opportunity to sell when the market grows.
Experience International has a range of pre-tenanted properties in desirable neighbourhoods with good employment prospects. For more information about opportunities in Detroit property Investment please contact Experience International on 0207 321 5858 or email info@experience-international.co.uk
Named as one of the six chosen cities, Detroit is set to benefit from the SC2 programme which is welcomed news for businesses in the area and the local community. Since the economic downturn the city of Detroit has seen the number of jobs, businesses and the price of housing decrease. In recent years the economy has shown signs of growth and it is expected to continue to flourish under the new government initiative.
To achieve goals set out in official guidelines, experienced staff with work directly with the six cities across the country to encourage economic growth. The government hopes that through integrating investments and partnering with local communities, SC2 will enable the resources of the federal government to be used correctly to target development and implement their visions for economic growth.
"Over the past two and a half years, the Obama administration received feedback from leaders all across the country who described the kind of partnership that would be most useful to them for economic growth," Domestic Policy Director Melody Barnes stated. "The result is Strong Cities, Strong Communities, an innovative new pilot that will help strengthen local communities while also delivering federal resources and assistance more effectively."
Senior Advisor to the President Valerie Jarrett also added, "This is exactly the kind of federal initiative that President Obama pledged to create €" one that respects the wisdom of local leadership, and helps mayors and other local officials utilise federal resources more effectively. President Obama has consistently demonstrated his commitment to a robust partnership with America's cities and counties. Strong Cities, Strong Communities is yet another example of this important partnership."
The new Strong Cities, Strong Communities initiative is set to improve employment levels within the city through the creation of new jobs. Businesses will be encouraged to work in conjunction with the government and the local community, helping to decrease the levels of unemployment. This no doubt will lead to a rise in demand for rental properties within the local areas.
Currently properties in Detroit have seen a drop of around 65% in comparison with 2006 prices and the city offers significant rental yields, with great capital appreciation potential in the medium to longer term.
For investors looking to profit from Detroit's recovering economy, pre-tenanted buy-to-let options have been a popular choice, as they provide immediate income in the short term as well as offering investors the opportunity to sell when the market grows.
Experience International has a range of pre-tenanted properties in desirable neighbourhoods with good employment prospects. For more information about opportunities in Detroit property Investment please contact Experience International on 0207 321 5858 or email info@experience-international.co.uk