Why Investors Should Look West of Corktown for Real Estate Opportunities
Corktown, a neighborhood of apartment sky-rises and corporate office towers next to Downtown Detroit, was the first area to feel the real estate boom in Motor City.
Once Downtown was revitalized, Corktown soon followed. With projects like the massive overhaul of Michigan Central Station and a series of high-profile developments, the area has seen meteoric growth.
But with that transformation has come skyrocketing property prices, making it out of reach for many landlords and investors.
However, if you look west along Michigan Avenue, the seeds of the next residential boom are being planted.
Recent developments, including the newly unveiled $18 million Campbell Street Apartments just a few miles from Corktown, present an opportunity for investors to get into a growing market before prices peak.
Here’s why landlords should be focusing on this area and what makes it such a promising investment destination for single-family and multifamily properties.
Corktown’s Boom and Why It’s Now Out of Reach
Corktown has evolved into a Class A neighborhood, attracting top-tier developments such as Ford’s Michigan Central innovation hub and the nearby planned soccer stadium.
Trendy restaurants, walkable streets, and modern businesses have created an urban environment that commands steep real estate prices and rents.
For investors, this transformation comes with a steep entry fee. Property prices in Corktown now reflect its high desirability, making it challenging to achieve significant returns, especially for those looking for undervalued deals. The neighborhood’s status as a luxury hotspot makes it less appealing to investors aiming to build portfolios with solid cash flow and room for long-term appreciation.
Read More: Check out our Deep Dive into Corktown for all the data behind the rental market here–like sale trends, rent trends, example investment properties, and more.
The Shift West Along Michigan Avenue
Fortunately, Detroit is a city of momentum, and Corktown’s boom is pushing the property price bubble west, along Michigan Avenue.
The recent opening of the Campbell Street Apartments in the East Chadsey Condon neighborhood underscores the potential of these surrounding areas.
The Campbell Street development, built by MiSide Community Impact Network, brings 40 affordable housing units to a site that had been vacant for over 30 years. With modern amenities, rent capped at 30% of a tenant’s income, and proximity to employers, dining, and retail, this project proves there’s growing demand for accessible, high-quality housing in neighborhoods just outside Corktown’s borders.
Additionally, the planned Wesson Apartments, set to open in 2026 nearby, will only enhance the area’s growth trajectory.
Developments like these provide a strong foundation for investors to enter the market with confidence.
Why Detroit’s Westward Growth Is Ideal for Investors
The stretch of Michigan Avenue leading west from Corktown offers several advantages for landlords and property owners.
1. Emerging Neighborhood Appeal
The East Chadsey Condon neighborhood is evolving into a highly attractive area for renters.
Its proximity to Corktown’s amenities, major employers, and infrastructure projects like the Gordie Howe International Bridge make it an enticing alternative for tenants priced out of Corktown.
2. Affordable Entry Points
Unlike Corktown’s soaring property values, the neighborhoods westward offer more affordable single-family and multifamily housing options.
Entering this market allows investors to take advantage of lower purchase prices while anticipating future appreciation as demand continues to grow.
3. Proven Demand for Housing
Projects like Campbell Street Apartments demonstrate a clear need for rental housing in the area, particularly at affordable rates.
For landlords, this creates stability, knowing that the market can support consistent occupancy.
4. Room for Multifamily Development
With large parcels of land and older residential properties ripe for redevelopment, areas west of Corktown are ideal for multifamily investment.
Landlords can acquire properties and reposition or renovate them to attract tenants drawn to the area’s affordability and accessibility.
5. Supportive City and State Initiatives
Detroit has made affordable housing development a priority, as seen with the city council’s rental compliance program and grants for soil remediation at the Campbell site.
This support lowers risks for investors by providing additional resources to improve property conditions and maintain long-term demand.
The Bigger Picture Around Michigan Central
We can’t overstate the ripple effects of the Michigan Central development.
The station’s multimillion-dollar renovation has transformed it into a technology and innovation hub, attracting talent from across the country. Major projects like this, along with Corktown’s other high-profile developments, are driving economic growth throughout the broader area.
Employment opportunities brought by corporate investments like Ford’s hub naturally build demand for nearby housing, especially in more affordable neighborhoods. For landlords, this creates opportunities to cater to renters who want proximity to these job centers but cannot afford the premium costs of Corktown itself.
Final Takeaway
Detroit’s real estate landscape is shifting.
While Corktown has become a luxury enclave too costly for many investors, neighborhoods west of Michigan Avenue are brimming with opportunity.
Developments like the Campbell Street Apartments and the ongoing ripple effects of the Michigan Central project prove there’s a strong demand for housing in these emerging areas.
For landlords ready to seize the moment, now is the time to explore Detroit’s expanding west side. With the right strategy, investing in single-family or multifamily properties in this area could set the foundation for substantial long-term gains.
Are you ready to explore the evolving opportunities in Detroit’s housing market? Contact us today for exclusive insights and investment opportunities!