Detroit's real estate development pushes forward at a rapid pace

For the area known as greater downtown Detroit, 2016 is expected to be the kind of year city leaders have dreamed of and worked toward since the 1967 riots.

This year will also highlight that Detroit’s rebound remains wildly uneven: While development in neighborhoods throughout the city is planned, it will not match the boom times going on in greater downtown.

“The best is yet to come and we look forward to the year ahead,” said Jim Ketai, managing partner and CEO of Bedrock Real Estate Services. Bedrock has become a major force in downtown since it arrived this decade. It’s invested nearly $2.2 billion in acquiring and renovating 80-plus properties downtown. Last year was a record year for Bedrock and Ketai indicated the firm has big hopes for 2016.

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