Not too long ago, Midtown Detroit needed help drawing new residents.
An incentive program in place since 2010 to encourage people to move to Midtown is credited with drawing a diverse population, Matt Helms of the Detroit Free Press reports. It's likely to continue after the test period end this year.
The Live Midtown program was designed as a five-year deal to offer rental assistance and help employees of businesses in the area purchase homes, condos and lofts as Detroit and the nation emerged from the worst of the recession.
It’s funded by three major employers — Wayne State University, the Detroit Medical Center and Henry Ford Health System — that, along with the Hudson-Webber and Kresge foundations, have spent about $1 million a year on the incentives.
The goal: to encourage workers to move in and stay in the neighborhood — and in their jobs.
To date, it’s credited with bringing nearly 1,000 new residents to Midtown, part of a rush to an area that has raised rents and encouraged new developments, according to new data from Midtown Detroit Inc., the development agency that manages the program.
