Ten months after an anonymous donor made possible a program that provides free college tuition to any graduate of Kalamazoo Public Schools, home sales and prices in that southwestern Michigan city have jumped considerably. The average home price has increased 5 percent in the school district in the past 12 months, according to a report by Julie Mack the Kalamazoo Gazette.
Perhaps more importantly, Ms. Mack also reports that developers have announced plans to build some 500 homes in the rebounding urban area. The trend comes as home sales slump throughout the region and gives force to the idea that, given the proper incentives, homebuyers - particularly families - will not hesitate to invest in central cities.
