det-CCACBDDetroit (3) Detroit lost the historic Statler Hotel on this site more than a decade ago, but hundreds of new apartments by City Club Apartments will take its place.

DETROIT—Across the US, downtowns are booming as young workers flood in to take advantage of the lifestyle, and jobs, provided by CBDs. And the Detroit multifamily market has been one of the strongest markets in the Midwest in recent years, recording the region’s largest decline in vacancy since 2009, according to a new report by CBRE.