Metro Property Group is leading the charge of investors seeking to snap up distressed properties in the area and provide rental accommodations for resident who may eventually become homeowners. But for founder and CEO Sameer Beydoun, the mission extends beyond just buying houses.
"We really want to be part of Detroit's revitalization, and we really believe we are doing something that's never been done," Beydoun said. "I'd say the vision for Detroit is to keep the momentum that not only our company's doing but a lot of people are getting into and really pushing forward the revitalization of Detroit."
So far, the vision and results have been met with a positive reception from local developers and won the company international attention.
“As with any investor, but especially one that owns this many properties, area residents are watching carefully to see if they will be responsible property owners and landlords,” says Tom Goddeeris, executive director of Grandmont Rosedale Development. “They have been willing to meet with our Vacant Property Task Force and open a dialogue with residents, which is also good. These things give us hope.”
Founded in 2009, Metro Property Group has been focusing on pockets of the city such as Rosedale Park, Fitzgerald, Grandmont, East English Village and Bagley, and purchases up to 60 properties a month. In the past 18 months, the company has acquired over 1,000 homes. These are then renovated with state-of-the-art appliances and decor, before being filled with tenants who can become potential home buyers.
Beydoun’s business sense has helped his team create a strategy to achieve its goal of helping the city regenerate post-crash. "There's not one property that we've acquired that we don't have a plan for," he says.
Keen to share investing plans for the area, Metro Property Group will be the Platinum Sponsor at the Investor Forum Toronto March 9 and 10 at the Toronto Congress Centre.
“We’re really excited to be sponsoring the Investor Forum Toronto this year,” says Beydoun. “We can’t wait to show a Toronto audience what we have to offer investors.”
To learn more about Metro Property Group and the Detroit housing market, book your tickets to the Investor Forum at www.toronto.theinvestorforum.ca. Registration closes March 7, 2013.
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