Could LeBron James Leaving Cleveland Be The Best Thing That Ever Happened To Detroit Real Estate

Lebron James; The Savior of Detroit?

To most people in Cleveland Ohio July 8th, 2010 was a dark day.  The Chosen One, The Second Coming, Their King announced he was leaving them and made his decision public (you can watch it here).  LeBron James was pretty much responsible for somewhere between 48 to 150 million dollars in revenue per year to the city of Cleveland according to The Wall Street Journal.  As an entrepreneur who has been affected both negatively and positively by circumstances outside of my control I can only imagine the utter terror a lot of businesses felt after LeBron’s decision…but since I’m from Detroit his decision may have changed my great city’s future forever.

Dan Gilbert who’s proving to possibly be the savior of Detroit became a partial owner of the NBA team, the Cleveland Cavaliers, a couple years after LeBron James was drafted.  This move worried a lot of Detroiters as our fear was Mr. Gilbert along with his amazing vision may start to forget about us here in his lonely hometown.  Well that all changed the day that LeBron decided to take his talents to Miami.  Let’s fast forward to Spring/Summer 2013…

Before the first day of Spring in 2013 Dan Gilbert acquired 8 buildings in Downtown Detroit brining his total to a whopping 19!  In a word AMAZING.  These buildings are not in desolate areas that people aren’t going to want to visit and patronize, they are in the heart of Detroit.  Mr. Gilbert has already moved close to 7,000 of his employees of Quicken Loans downtown.  His combined holdings strategically surround the core of downtown Detroit and will make it a no-brainer for those deciding whether to move downtown or not.

What does all this have to do with real estate?  Detroit is the anchor of southeast Michigan.  With a flourishing downtown, al of the surrounding suburbs will see a positive uptick in real estate values.  Even more important to Michigan’s economy long the possibility of start-ups making Detroit their destination of choice.  This will bring excitement and much needed bodies to the city itself.  We’ve had a declining population in Detroit for decades, Dan Gilbert and his magic may be just what we need as a city, state, and community to bring The D not only back to it’s former glory but to infinity and beyond.

Dylan Tanaka

Founder of the REIA of Macomb, where as a speaker, author, consultant, and full time real estate investor Dylan's taught hundreds of investors how to become more successful in their real estate investing business. Personally completing over 200 residential transactions, as a principal, totaling over 50 million dollars. A passion of Dylan's is Winning Futures, a non-profit organization based in metro Detroit where he mentors high schools students and was recently named mentor of the year.

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Leave A Reply (4 comments So Far)


  1. James Bischoff
    3 years ago

    Hi I love what Iam reading and would love to meet all of you. I eve been working deals and with a lot to learn yet and just get out and do more, I need to develop and awesome team who truely complement each other and work on what we can achieve together, give back and make life awesome for all we are with and make this world a more caring and helping place.Still trying to get that first deal through even though Ieve had a some that just didnt allow us to get through with my partner and well we just keep at it and keep growing, much success, James Bischoff


  2. Anthony Manzo
    4 years ago

    Dylan,

    I had the opportunity to join the REIA meeting last night and was truely impressed with all the information you provided in Real Estate Investing. I am just getting started and I’m really passionate and self driven to become a successful Real Estate Investor!


  3. Dylan Tanaka
    5 years ago

    Mike,

    Good to hear from you again. Concerning your question on the “actual neighborhoods” and the impact of what Gilbert and others are achieving in Detroit right now on them…I don’t have any hard numbers but my Spidey Sense tells me that where there’s money-other money follows. Meaning as excitement grown in the city it will bring investors, homeowners and new renters to the area.

    Take a look at the strength of some of the bedroom communities surrounding Ann Arbor or the popularity of some of the cities surrounding Royal Oak’s Main Street. These outside areas have grown directly because of their close vicinity to an epicenter.

    Detroit in The Epicenter of Michigan. You said so yourself. I believe anything positive is positive, whether it be in Detroit or anywhere else.


  4. Mike Samuels
    5 years ago

    Sweet article. As Detroit goes so goes the rest of southeast Michigan, I agree with you there. But what impact will Gilbert have on the actual neighborhoods of Detroit, in your opinion? Don’t get me wrong I’m not being negative, just wanna know what other investors out there think.

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