Downtown incentives coming

Posted on July 22, 2011

Details of the much-anticipated Live Downtown residential incentive program will be unveiled Monday with at least five major downtown employers taking part, the Free Press has learned.

Modeled on the popular Live Midtown incentives, the program will provide significant cash incentives for employees of the participating companies to move into the downtown area.

Companies participating will include DTE Energy, Compuware, Quicken Loans, Blue Cross Blue Shield of Michigan and Strategic Staffing Solutions, said a person familiar with the plan.

To qualify for the incentives, an employee of one of the participating firms must buy a house or condominium or rent an apartment within the boundaries set for the program. The boundaries will be announced Monday, but will generally cover the greater downtown area, including Corktown and Lafayette Park, said the person familiar with the plan.

Dan Gilbert, founder and chairman of Quicken Loans, revealed the basic outline of the program a few weeks ago while speaking to a group of visiting journalists. A news conference is being scheduled for Monday with Mayor Dave Bing and representatives of the participating companies likely to attend.

Announced in February, the Live Midtown incentive has attracted hundreds of applicants and seen dozens approved to buy or rent a residential unit in the city’s Midtown district. The Live Midtown program is open to employees of Wayne State University, Detroit Medical Center and Henry Ford Health System.

Programs such as these are part of broader efforts by major employers to promote the economic development of the cities where they are based.

Dan Gilbert, founder and chairman of Quicken Loans, revealed the basic outline of the program a few weeks ago while speaking to a group of visiting journalists. A news conference is being scheduled for Monday with Mayor Dave Bing and representatives of the participating companies likely to attend.

Announced in February, the Live Midtown incentive has attracted hundreds of applicants and seen dozens approved to buy or rent a residential unit in the city’s Midtown district. The Live Midtown program is open to employees of Wayne State University, Detroit Medical Center and Henry Ford Health System.

Programs such as these are part of broader efforts by major employers to promote the economic development of the cities where they are based.

By John Gallagher, Detroit Free Press