It’s well known that the city of Detroit has been dealing with issues various issues such as crime, education, and housing for some time. Fortunately, two young professional brothers have joined together to fight gentrification in the city’s neighborhoods. Mississippi writer and real estate developer, Andrew Colom, and New York banker, David Alade, created Century Partners, a development firm specializing in revitalizing Detroit communities.
Usually when outsiders come in and begin rebuilding neighborhoods, it is for their personal gain and they place no value in preserving the history or the tenants of the neighborhood. Often, their rebuilding can lead to overpriced housing that the original tenants possibly can’t afford. Currently reports are in the news about the rent raising in the Midtown area of Detroit, which is the attraction of many of the young professionals moving there. By investing in neighborhood properties, Century’s purchase of the homes from their owners are putting money back into the community, while also improving the conditions for those rental tenants.
Colom was the first to see the potential in Detroit properties moving there in February of 2015, whereas Alade was at first skeptical, but later moved in May of the same year.
To learn more about their work visit http://www.centurypartners.org.