Quicken Loans founder and chairman Dan Gilbert is responsible for $1.6 billion in funds to rebuild Detroit after its declaration of bankruptcy in 2013.
One of the biggest obstacles is the number of abandoned buildings that need to be removed: 78,000, according to the Detroit Blight Removal Task Force Plan.
As blighted structures are being torn down, crews constructing new residential areas are slowly beginning to enter the city.
The timeframe is uncertain, but Gilbert insists that blighted structures need to be removed quickly and completely. Gilbert says, “Blight is like a cancer. If you don’t remove it all, it grows back. You have to get rid of it in the shortest time possible."
Video Source: Bloomberg News