Now is the time to invest in urban redevelopment. More and more investors have realized the downtown and city areas or Grand Rapids, MI are becoming revitalized. They have taken large multi-family units, renovated in and out and converted them into luxury urban condos. They have done the same with dilapidated warehouses and old school buildings. Currently in Grand Rapids, MI some of these new condo developments are offering "tax free" incentives .
Why the sudden rebirth in urban areas? According to a recent article by Tom Geller, one reason is could be increase in oil prices. Non-urban living demands more oil and gas us as homes, grocery stores, and workplaces tend to be much further distances from each other and often too distant for bicycling or walking.
As I have been to the Eastown and Midtown areas of Grand Rapids in recent months, you can see the revitalization taking place right before your eyes, especially along Wealthy street. These are great places to think about investing or moving because the prices are still relatively low, but stand a chance to increase greatly in value as the Grand Rapids city life continues to grow in popularity.
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