[john70t]

Having recently moved back to Michigan from the Bay Area, some comparisons to Oakland could be made.

Oakland was a deserted wreck for some time with the downtown pretty much vacant, and in only a few years turned around dramatically.
Even in West Oakland-where all the projects were torn down and rebuilt into condo-looking things. One block would have kids drinking 40's in the street, the next would have a couple newish white-picket-fences and new cars in the driveway and an art club down the street.

Oakland is smack-dab in the middle of a small big-money area so it was inevitable, but it shows what is possible with good streets, agressive law-enforcment, and a gov/planning commision who want change and improvement.
The potential is there, but it'll probably start block-by-block in areas with many different draws already there, and the gov somewhat decentralized.