Detroit: An Economy With Deep Challenges and Signs of Promise

Detroit's economy has left the city hurt, but with hope.

Detroit: An Economy With Deep Challenge and Signs of Promise - For decades, Detroit?s economy has been ravaged by a declining population and tax base, high unemployment and neighborhoods with abandoned buildings. At the same time, there have been some impressive development projects with refurbished office buildings and new residential and business openings. Take a look at some of these historic buildings and areas. ? Jonathan P. Hicks(Photo: John Collins/Chasephotog)

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Detroit: An Economy With Deep Challenge and Signs of Promise - For decades, Detroit’s economy has been ravaged by a declining population and tax base, high unemployment and neighborhoods with abandoned buildings. At the same time, there have been some impressive development projects with refurbished office buildings and new residential and business openings. Take a look at some of these historic buildings and areas. — Jonathan P. Hicks(Photo: John Collins/Chasephotog)

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An Auto Headquarters and Economic Symbol - The General Motors Corporation’s headquarters remains the symbol of Detroit’s prominence in the worldwide automobile industry. While its impact on the city’s economy has declined, the auto industry continues to have a role as a significant engine in Detroit’s economy. (Photo: John Collins/Chasephotog)

Michigan Bell Building: A New Use for an Old Skyscraper - A historic Detroit building, the old Michigan Bell skyscraper, sat vacant for some 20 years. It has been renovated recently into an office and residential building.(Photo: John Collins/Chasephotog)

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Michigan Bell Building: A New Use for an Old Skyscraper - A historic Detroit building, the old Michigan Bell skyscraper, sat vacant for some 20 years. It has been renovated recently into an office and residential building.(Photo: John Collins/Chasephotog)

Roosevelt Park and Old Train Station - The Michigan Central Station, once a major railway hub, was closed in 1988 and has remained vacant. When it was constructed in 1913, it was the tallest rail station in the world.(Photo: John Collins/Chasephotog)

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Roosevelt Park and Old Train Station - The Michigan Central Station, once a major railway hub, was closed in 1988 and has remained vacant. When it was constructed in 1913, it was the tallest rail station in the world.(Photo: John Collins/Chasephotog)

Downtown Detroit: Scene of Development - There has been a significant level of development in downtown Detroit, where a number of old office buildings have been refurbished and restored. Also, there are a number of newly renovated hotels, apartment buildings and new restaurants and stores.(Photo: John Collins/Chasephotog)

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Downtown Detroit: Scene of Development - There has been a significant level of development in downtown Detroit, where a number of old office buildings have been refurbished and restored. Also, there are a number of newly renovated hotels, apartment buildings and new restaurants and stores.(Photo: John Collins/Chasephotog)

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An Economy That Even Affects Churches - The once proud St. Ann?s Roman Catholic Church is now an abandoned, gutted shell. It is a sign of how widespread the rash of abandoned structures has been in Detroit.(Photo: John Collins/Chasephotog)

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An Economy That Even Affects Churches - The once proud St. Ann’s Roman Catholic Church is now an abandoned, gutted shell. It is a sign of how widespread the rash of abandoned structures has been in Detroit.(Photo: John Collins/Chasephotog)

The Heidelberg Project: An Unusual Artists? Colony - Created by artist Tyree Guyton, the Heidelberg Project is an outdoor initiative to develop some of the abandoned homes into an artists? colony of community gardens, museums, galleries and more. It is located in a neighborhood that began to deteriorate after the 1967 riots.(Photo: John Collins/Chasephotog)

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The Heidelberg Project: An Unusual Artists’ Colony - Created by artist Tyree Guyton, the Heidelberg Project is an outdoor initiative to develop some of the abandoned homes into an artists’ colony of community gardens, museums, galleries and more. It is located in a neighborhood that began to deteriorate after the 1967 riots.(Photo: John Collins/Chasephotog)

A Skating Rink Tied to Revitalization - Campus Martius Park is a refurbished area that anchors a two-square block district that is the commercial center and heart of downtown Detroit. It includes two stages, sculptures, public spaces and an ice skating rink. (Photo: John Collins/Chasephotog) 

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A Skating Rink Tied to Revitalization - Campus Martius Park is a refurbished area that anchors a two-square block district that is the commercial center and heart of downtown Detroit. It includes two stages, sculptures, public spaces and an ice skating rink. (Photo: John Collins/Chasephotog) 

A City of Old, Charming Homes  - Despite the economic troubles of Detroit, the city has several neighborhoods with elegant homes. One such example is the home once owned by Berry Gordy, the founder of the legendary Motown record label.(Photo: John Collins/Chasephotog)

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A City of Old, Charming Homes  - Despite the economic troubles of Detroit, the city has several neighborhoods with elegant homes. One such example is the home once owned by Berry Gordy, the founder of the legendary Motown record label.(Photo: John Collins/Chasephotog)

Wholesale Urban Blight: Abandoned Blocks - The economic impact of population decline has created a situation where large swaths of neighborhoods have homes that have been abandoned. It has caused city planners to consider restricting residents to certain sections of the city.(Photo: John Collins/Chasephotog)

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Wholesale Urban Blight: Abandoned Blocks - The economic impact of population decline has created a situation where large swaths of neighborhoods have homes that have been abandoned. It has caused city planners to consider restricting residents to certain sections of the city.(Photo: John Collins/Chasephotog)

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A Historic Residential Enclave - The Boston Edison Historic District is a neighborhood located in the geographic center of Detroit and is one of the largest residential districts in the country. It consists of 900 homes and was designated as a historic site in 1973.(Photo: John Collins/Chasephotog) 

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A Historic Residential Enclave - The Boston Edison Historic District is a neighborhood located in the geographic center of Detroit and is one of the largest residential districts in the country. It consists of 900 homes and was designated as a historic site in 1973.(Photo: John Collins/Chasephotog) 

A Premier Art Institute in Downtown Detroit - The Detroit Institute of Arts, located in Midtown Detroit, has one of the largest, most significant art collections in the United States. In 2003, it was ranked as the second largest municipally owned museum in the United States, with an art collection valued at more than $1 billion.(Photo: John Collins/Chasephotog)

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A Premier Art Institute in Downtown Detroit - The Detroit Institute of Arts, located in Midtown Detroit, has one of the largest, most significant art collections in the United States. In 2003, it was ranked as the second largest municipally owned museum in the United States, with an art collection valued at more than $1 billion.(Photo: John Collins/Chasephotog)

A Headquarters of a Businessman Committed to Revitalization - Quicken Loans? chairman is Den Gilbert, who is a major force in the revitalization of downtown Detroit. Gilbert, the majority owner of the Cleveland Cavaliers, has purchased and redeveloped a number of buildings and complexes in the city. (Photo: John Collins/Chasephotog)

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A Headquarters of a Businessman Committed to Revitalization - Quicken Loans’ chairman is Den Gilbert, who is a major force in the revitalization of downtown Detroit. Gilbert, the majority owner of the Cleveland Cavaliers, has purchased and redeveloped a number of buildings and complexes in the city. (Photo: John Collins/Chasephotog)

A Bakery Opens in Midtown Detroit

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A Bakery Opens in Midtown Detroit - The Avalon Bakery has become symbolic of the return of economic vitality to Detroit, particularly in the city’s Midtown section. The bakery served some 1,000 customers a day and its baked goods are transported throughout the city and to other parts of Michigan.(Photo: Jonathan P. Hicks/BET)

Midtown Detroit Is Scene of New Galleries - The N'Namdi Center for Contemporary Art is a nonprofit dedicated to enlightenment through the arts. The Center showcases national artists and provides emerging local artists with a home for their art.(Photo: Jonathan P. Hicks/BET)

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Midtown Detroit Is Scene of New Galleries - The N'Namdi Center for Contemporary Art is a nonprofit dedicated to enlightenment through the arts. The Center showcases national artists and provides emerging local artists with a home for their art.(Photo: Jonathan P. Hicks/BET)