![]() (Although the proposal to buy Belle Isle didn’t go through, on Nov. ![]() ![]() We can’t just be a poor city and prosper.” That’s an undeniable economic fact, but given the city’s declining population and tax base, not to mention its high crime rate, what practical steps can the city take to revive itself?Īfter Detroit filed for bankruptcy in July, some suggested that the city should sell off assets like the Detroit Institute of Arts’ collection or Belle Isle, an island park on the Detroit River the city has owned since 1879, to help meet its $18 billion debt. continued, “I’m sorry, but, I mean, bring it on. Speaking at a forum about Detroit’s future in May, an economic-development official told the audience, “When I look at this city’s tax base, I say bring on more gentrification.” George Jackson, CEO and president of the Detroit Economic Growth Corp.
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