On Stossel tonight I heard about an interesting idea. There are some elements of this I have very definite issues with – but overall, its an interesting concept. Here are some details — and a link to more.
A Detroit Game Changer —
Belle Isle is currently an uninhabited island of 982 acres in the Detroit River, bordering the U.S. and Canada. It is owned by the City of Detroit and used as a public park. In the book Belle Isle, investors buy the island from Detroit for $1 billion and build a supercharged community with its own laws, customs, transportation systems, taxation and currency, transforming Belle Isle into the “Midwest Tiger,” rivaling Singapore and Hong Kong as an economic miracle. Served by a monorail, Belle Isle is a walking community, with restricted hours for vehicles. With emphasis on great planning and architecture, people from all over the world come to Belle Isle, to be part of its freedom and opportunity culture.
In the process, using the money paid to Detroit from the purchase and having the benefit of “spill-over” economics from Belle Isle, Detroit is transformed into a job creation machine from its current state.
What do you think??