Over $600 Million in Detroit Renovations
While much gratitude has been given to Dan Gilbert and his companies for the great additions and influx of employees to the Detroit Market, construction contractors have been cashing in on the much needed work. According to Crains Detroit Business, over $600 Million dollars have been paid by Gilbert and his affiliated companies since 2010 to contractors working on renovations to buildings purchased.
This is great news to construction and renovation companies in need of work, and the demanded service keeps going up. The renovations are being completed on office space, restaurants, retail shops, and apartments/living space. While some restoration work constitutes the bulk of projects, almost every renovation has a modern twist to it.
Construction companies that are associated with the Detroit renovations have grown over the past years, with Sachse Construction serving as a prime example. In 2010, the companies revenue was listed as $30 million, and this number has grown to $172.2 million as of 2015.
Gilbert’s projects downtown have spurred other companies to grow, and therefore helped the overall economy rev up into high gear. With new businesses and retail shops opening doors almost every month in Detroit, the potential for future work and development in the area continues to look amazing.