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.
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.
LATEST URBAN HEADLINES
Nevada Raises Taxes to Build an NFL Stadium for a Team That May Not Play There2 days ago
City Revenues Expected to Finally Recover From Recession6 days ago
Uber and Lyft Ordered to Stop Service in Philadelphia, But Will They?1 week ago
Obama Takes On Zoning Laws to Address Housing Shortage3 weeks ago
Chicago Mayor Reveals Long-Awaited Plans for Reducing Record Crime3 weeks ago
Sick of Seeing Cigarette Butts on the Ground, Cities Get Creative3 weeks ago