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into the city is an encouraging
step," he said. "You can have
your baseball, you can have your
football and you can have your
casinos — but, until you develop a
residential core, a tax base, you're
really just a destination and you're
not going to grow"
Work has begun on the Ilitch
family's $450 million Detroit
Red Wings arena project, which
spans 45 blocks between Detroit's
Downtown and Midtown neigh-
borhoods. It includes restaurants,
bars, retail space and housing.
Construction is expected to be
complete in 2017, and countless
other projects are also under way.
"If normal market forces take
over, the interest comes from
everywhere because capital follows
good opportunity, and Detroit has
so much of that right now" Gilbert
said.
Scott Raskin, CEO of Mindjet,
an innovation software company
headquartered in San Francisco,
said, "It was a real eye-opening
experience to see the commitment
and progress that has been made.
"Ever since the event, I have
found myself talking up Detroit
because the perception continues
to be so negative. I've also begun
asking how my own business
can leverage the opportunities in
Detroit and how I can join other
ex-Detroiters in the rejuvenation
of the city" Raskin said.
Raskin, son of IN columnist
Danny Raskin, says he has hired a
Detroit team and now is looking
for space here for a satellite office.
Jamie Hodari also is watching
with interest. The Bloomfield
Hills native attended Cranbrook,
Columbia, Yale Law School and
Harvard. He's worked with a hedge
fund and as a corporate lawyer,
but also as a journalist in India
and in education in East Africa.
He currently lives in New York
and runs the company Industrious,
which creates social office com-
plexes for startups and growing
businesses. He plans someday to
open a location in Detroit
"We're all betting on the same
sets of trends and drivers among
young people right now" he said.
"There's real momentum. The
Downtown acceleration is real. It
would mean a lot to us to bet on
Detroit. It's every bit as promising
and attractive a market as other
major cities:'
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