Downtown Detroit Projects Derailed Over Financing

The reluctance of banks and major pension funds to underwrite loans for downtown projects has been a consistent problem for the struggling city.
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.

Join the Discussion

After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.

More from Finance