The Detroit Land Bank Authority
selected Red Rock Global as their
real estate broker and advisor for
their Neighborhood Stabilization
Program activities. In this role, RRG
was responsible for the important
task of property identification,
valuation, condition assessment,
and acquisition analysis.
Red Rock Global’s background in representing both buyers and sellers in revitalizing
communities, made them the experienced advisor to the DLBA on the complex and highly
sensitive process of acquiring blighted properties and redeveloping or land banking them.
The project included the acquisition analysis of over 3,000 properties through nine Detroit
neighborhoods in less than four months. After prioritizing the acquisitions, and completing
property assessments for each acquired property, RRG worked very quickly to develop a
process that resulted in the complete demolition or redevelopment of over 256 of these
properties. The properties were then land banked or disposed of.
Phase 2 of the Neighborhood Stabilization Program will address commercial assets and multi-family
housing. Now that many of the City’s blighted single family properties are under redevelopment or
will be demolished, small areas of neighborhoods will now begin to be transformed, as commercial
and larger residential assets are acquired and successfully repositioned.
