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Whole Foods market holds promise for Detroit property development

Detroit residents are only about one year away from the grand opening of the first location of a national grocery chain in the downtown area. Building began last month on a Whole Foods location, which has many market watchers excited about other real estate development opportunities in Midtown Detroit.

The store will be about 21,000 square feet and is located in the center of the financial district downtown. As we've written in the past, the revitalization of much of the vacant property in downtown Detroit is an exciting part of the ongoing economic recovery for the city, and holds a lot of potential to raise property values in and around the city.

Many people are excited about the possibilities for the Whole Foods location in Detroit. One local business owner told reporters that she's looking forward to having more business with a social consciousness and environmental mindfulness. There is also a lot of discussion on the health benefits to Detroit residents through the introduction of more fresh and organic products to the marketplace. The downtown area has had a noted lack of grocery stores, and although this market is in a higher income area it is still accessible by public transit and on foot for people in all parts of the city.

A local city council person said that she hopes this will be the first of many national retail chains to build locations in the area. This type of development is good for the downtown area and creates employment opportunities for many residents. She said that looking to other locations of the grocery store nationwide; Detroit can expect other real estate development around the Whole Foods location.

Source: Huffington Post, Whole Foods Detroit Location Breaks Ground in Midtown," May 15, 2012.

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