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Downtown Detroit Projects Derailed Over Financing

Source: The Detroit Free Press | Detroit, Mich. | May 10, 2013



The reluctance of banks and major pension funds to underwrite loans for downtown projects has been a consistent problem for the struggling city. As a result, the gap between what traditional lenders will offer and what a project actually costs must be filled in with a patchwork of nontraditional loans and subsidies from government and foundations, slowing down the entire process.

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