michael kelly

Economy
12:29 pm
Thu June 20, 2013

Gilbert owns downtown Detroit, but who owns the most private land in the whole city?

Peter Martorano Flickr

Earlier today we posted a story with a map of all of Dan Gilbert’s properties in downtown Detroit.

That got us thinking, who else owns a lot of property in Detroit?

In 2011, the Detroit News compiled an interactive map that shows private landownership. Click on each person or company and you can see how much land they own across the city – it’s a lot.

So who owns the most?

Michael G. Kelly, an unassuming investor from Grosse Pointe Woods.

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Economy
3:34 pm
Thu February 3, 2011

Report: How land speculators in Detroit make a buck

An old deli in Detroit. Buy cheap, sell high is the land speculator's motto.
Bob Jagendorf Flickr

"If you walked up to him on the street, you wouldn't know that he was a land baron. He's a guy in blue jeans walking around looking like he's working on somebody's building."

- Detroit city attorney Avery Williams talking about Detroit land speculator Michael Kelly.

Christine MacDonald of the Detroit News has a story on how land speculators make money in the city of Detroit.

MacDonald profiles one of the more prolific speculators, Michael Kelly.

The business model for a successful land speculator in Detroit is simple - buy a lot of land for a little money, then sit on the property until it sells for more than you paid for it.

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