DETROIT—People who associate Detroit with bankruptcy and abandonment would be surprised to walk the streets of its CBD. Once abandoned or under-utilized office towers have been reopened or revived in the last five years and now throb with activity throughout the workday. And the thousands of employees who hustle along these streets have increasingly chosen to also live downtown, filling up existing structures and setting the stage for new multifamily construction.

According to a recent Detroit market study published by Broder & Sachse Real Estate Services, downtown Detroit is at a 98% occupancy for rentable housing, with neighborhoods such as Grand Circus Park and the CBD at 99%.

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