Tuesday, April 7, 2009

Financiers to plant farm... in downtown Detroit

Danny Bradbury, BusinessGreen, Tuesday 7 April 2009 at 09:22:00

Investors announce plans for giant urban agribusiness on 10,000 acres of rundown urban sprawl

A Michigan-based financial group has announced ambitious plans to turn large swathes of crime-ridden Detroit into urban farmland. In the long term, Hantz Group hopes to develop up to 10,000 acres of underutilised and vacant land in Downtown Detroit - almost a tenth of the city's 143-square-mile area - and turn it into a mixture of cash crop land, ornamental gardens, and riding trails.

The ambitious scheme will begin with a 70-acre purchase on the city's Lower East Side. Matt Allen, senior vice present for Hantz subsidiary Hantz Farms, who lives close to the proposed "phase one farm", said that the land has been targeted for its low density, and currently supports between zero and nine residents per acre. …

Financiers to plant farm... in downtown Detroit

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