Detroit municipal bankruptcy (2013)
Detroit filed for Chapter 9 bankruptcy in July 2013, the largest municipal bankruptcy in US history, after losing more than a quarter of its population between 2000 and 2013. The city emerged in December 2014 with restructured finances and a plan to restore basic services.
The city shed billions in debt and began reinvesting in public services and blight removal.
A decade of downtown and neighborhood redevelopment followed, creating conditions for today's multifamily construction wave.
This permit is a direct product of the post-bankruptcy recovery: a city with stabilizing finances and rising demand now green-lights new housing that would have been unthinkable a decade ago.
