Is Detroit the canary in the coal mine, warning of an impending influx of Chinese land lords? Is it a bad thing? Are these people really even “communists?”
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The Chinese development firm that snagged three downtown Detroit properties at auction last year said it is moving forward with plans to renovate the 1920s-era buildings as it eyes future purchases in the city.
“We don’t hold buildings. We bought them, and we’re going to develop them,” said Ken Creighton, a local representative for the DDI Group, also known as the Shanghai-based Dongdu International Group, which is making its first foray in the U.S.
DDI paid $16.4 million for the three buildings it won in online auctions last fall:
■ The David Stott building, 1150 Griswold, sold for $9.4 million.
■ The old Detroit Free Press building, 321 W. Lafayette, went for $4.2 million.
■ Clark Lofts, 35 W.