What would you do with Detroit?
newgeography.com
newgeography.com
One of the best proposals I've heard was to give tax incentives to alternative energy and electric car companies to setup shop in Detroit, thus following the Pittsburgh model. It already has essentially a decent infrastructure that could be renovated, it's close to good shipping lanes, and property is literally dirt cheap.
Burning Man/Devils Night mashup festival.
Darpa autonomous vehicle testing ground.
Joking aside, I think it's doomed. Most cities transitioned from a single industry over generations. You can't force that now. It's too late and too expensive. Plus it's cold. I used to live in Boston, lovely city, but it's so much cheaper in the south without heating costs.
Just a thought :)