First Commercial is confident that Detroit is on its way to becoming a destination for visitors, conventions, and new businesses. With the bankruptcy behind it, the city is once again on the rise as large companies and individuals are dedicating significant amounts of time and money into revitalizing downtown and midtown Detroit.
One major investor, Dan Gilbert’s Bedrock Real Estate Services, has purchased over 70 buildings and invested over 1.6 billion dollars in real estate and local ventures, thus changing the landscape of the city. Bedrocks’ opening of Punch Bowl Social, an entertainment destination, and John Varvatos, a high end men’s clothing store, has shifted all eyes back on Detroit. Varvatos who grew up in the city, described the buzz on Detroit perfectly, “I look forward to being a small part of building the future of this city. Get on the Detroit train. It’s going to be a magical ride.”
Shinola is another company that is making waves across the country and beyond. The watch maker chose Detroit to locate its headquarters in a 30,000 square foot factory. This demonstrates their commitment to the city and belief in the opportunities that Detroit offers.
Detroit has also become a hub for young entrepreneurs to start their businesses. The technology industry is thriving and is a key component to the rebuilding of the city.
First Commercial is excited about the revitalization of Detroit and believes that the support from these big and small companies will truly bring this city back.