Detroit: We Need $850M to Tear Down 40K Houses
Major report on city blight carries a big price tag
By John Johnson, Newser Staff
Posted May 27, 2014 5:42 PM CDT
This 2012 photo shows vacant homes in northeast Detroit.   (AP Photo/Carlos Osorio)

(Newser) – Just how bad is Detroit's blight? It took a major task force 331 pages to summarize the problem and recommend solutions, but that's hardly the most jaw-dropping number involved. The panel says the city needs $850 million to tear down 40,000 mostly residential properties over the next five years, reports the Detroit Free Press. And Detroit will need more than $1 billion in addition to that to clean up vacant industrial properties.

“We’re going to find the money and we're going to get this done," says Quicken Loans chief Dan Gilbert, one of three co-chairs of the report. It found that 85,000 of the city's 377,000 properties are hit by blight to some extent, prompting the New York Times to call the report "perhaps the most elaborate and detailed survey of decay conducted in any large city." One person apparently unswayed by the bad news: emergency manager Kevyn Orr. The Detroit News reports that the Maryland resident is shopping for a property of his own in the city's new auctions.

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normal
Oct 8, 2014 8:00 PM CDT
Love all the Detroit stories. Liberals are no where to be seen as they know this is the epitome of what they want and are embarrassed by it.
$37753267
May 28, 2014 5:56 PM CDT
The only investment that should be made in Detroit is the construction of a wall around it to keep the natives in. Detroit has become the same as other black governed cities like Mogadishu, Somalia, or Lagos Nigeria, or Monrovia, Liberia. Those african cities and Detroit all have the same exact thing in common. Detroit will never recover. No sense throwing good money after bad.
Ted Bandley
May 28, 2014 2:06 PM CDT
Why did this fall happen to Detroit? Oh Yea, Democrat Governing, tax tax tax give to friends, don't worry about business, education, the middle class, budgets, deficit spending, giving better income and retirements to government unions than they earned while working. CRASH so no one has a life, except retired government officials.