Dearborn Developer says ‘Dream is Over’
March 10th, 2010
Resident Hakim Fakhoury says 'dream' of developing downtown Dearborn is over.
If you’ve driven along Michigan Avenue this week you probably have seen signs hanging in the windows of some of the properties owned by developer Hakim Fakhoury with the following words: “The Dream is Over. For Sale.” Many of you have even written here asking what the signs meant.
Well, we sent a note straight to the source, Mr. Fakhoury, asking if he would pen a note explaining the meaning of the signs. He provided us this article, which begins below.
My name is Hakim Fakhoury, and I had a dream…
I had a dream… that Dearborn could become one of the most vibrant downtowns in Michigan.
I had a dream… that the city I have lived in nearly my whole life would be the place where I could invest the fruits of all my hard work.
I had a dream… that Dearborn’s leader would open their arms to a developer that is home-grown and seeks to make a better future for our city for generations to come.
I had a dream… that our mayor and city council could put aside personal and political differences, that petty political infighting would not cause the development of our city to come to a standstill. The inability of our leaders to have a vision has caused us to lag behind other cities, and make us unable to fully transition into the 21st century.
I had a dream… that our leaders would be smart to know what they don’t know, that they would hire professionals to develop master plans, that they would end corruption, the “old boys” network, an breathe new life into our community.
I had a dream… that we could redevelop our downtown into something that would appeal to everyone, attracting fresh young minds to make our city vibrant, livable, fun, and modern.
I had a dream… that I could buy buildings and then, in agreement with city officials, transform our city.
I had a dream… that the mayor and city council members would not lie, that they would be honest, that they would not manipulate each other, or play petty games, or include me in their internal feuds, and just be mature, with the city’s interests, and only the city’s interests, at the core of their decision-making.
I had a dream… but now the DREAM IS OVER for me… My hope is that another developer with come along, buy all my properties, pick up on my hard work, and move to develop the district…

The City of Dearborn is getting ready to test the real estate market, deciding to put the Dearborn Towers in Florida on the sales block, according to a recent story in the Dearborn Press & Guide.