Sugar Loaf Resort Demolition Is Underway

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Excavators have begun demolition of Sugar Loaf Resort in Leelanau County. The demolition should be completed by early January, but questions continue to loom. Who is financing the demolition, and what’s on the horizon for the site? The resort operated from the early 1960s until it closed in 2000 and was a premier winter destination. It had two golf courses, a 144,000-square-foot lodge and hotel, a restaurant, two pools, a 3.500-foot paved airstrip, indoor tennis, 72 townhouses, five chairlifts and a wastewater treatment plant. Ross Satterwhite is a local real estate adviser and the spokesperson for the unknown owners.

 

 

Livingston County is Commercial Building Dead Zone

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More than 7.5 million square feet is under construction in the Southeast Michigan region to fulfill the need for industrial, warehouse and distribution center buildings. But in Livingston County? Not so much, although it appears to be perfect for new construction. It has low vacancy, outdated inventory and rising rents. Only one new 40,000-square-foot industrial building has been constructed within the county’s 585 square miles in the last four years. Effectively, the market is full. Available workforce and infrastructure also contribute to new industrial space not coming into the county.

Downtown Birmingham Bright Spot for Retailers

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Downtown Birmingham is bustling with at least 8 retailers and 4 new food establishments that have opened, expanded or made plans to open in recent months. Retailers are rebounding in sales numbers and downtown Birmingham office space is at pre-pandemic levels of demand. According to real estate insiders, a popular retailer may be opening a new store at Maple and Old Woodward. In addition, downtown Birmingham opened its second luxury hotel. The 151-room Daxton hotel opened in April.

 

 

 

Michigan Township Vetoes Solar Farms

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Invenergy, a multinational energy company, has offered Washtenaw County farmers $1,100 a year for each acre of land utilized for solar panels. Landowners agreed to the deal, but the township didn’t. Some residents fear electromagnetic radiation. Township officials are disenchanted with the company’s sign up efforts before consulting local government. They’re also skeptical about Invenergy’s promises of boosted tax revenue. Others worry about the aesthetics of the panels and their infringement on hunting land. Bridgewater landowners feel that the deal was turned down based on assumptions and misinformation.

High Demand and Low Supply Drive Livingston County Market

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A more affluent and green space is a combination that is bringing a lot of people to Livingston County.  According to Census data, the county saw a 7 percent growth rate from 2010 to 2020. It’s one of the fastest growing counties in the state with a population of more than 193,000 people. Home prices continue to rise, although areas like Fowlerville remain more affordable than surrounding areas. Even with the area’s historical reputation for Ku Klux Klan activity and racial intolerance, there is still more demand for housing than there is supply.

Strings Attached to Development of Northville Downs Property

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Hunter Pasteur Homes’ request for planned unit development eligibility for the Northville Downs property was approved by the Northville Planning Commission. The redevelopment presentation was heavily scrutinized during the almost 5-hour meeting. However, the approval comes with attached strings. The developer must submit a current traffic study, provide values of benefits, the funding it is committed to cover, and the funding requested by the city for public benefits. The segregation of residential uses and the addition of a farmers market as a public benefit must also be addressed by Hunter Pasteur Homes. Planning commissioners approved the eligibility with a 7-1 vote.

 

 

Joe Louis Arena’s Redevelopment to Include Residential High-Rise

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A conceptual plan that was submitted to the city of Detroit in July envisions a 24-story, 290-foot residential high-rise as part of the former Joe Louis Arena’s redevelopment.  According to the Sterling Group, the tower would tentatively be named The Louis and house 500 studio and one-bedroom units. Other possible uses in addition to the residential building are unknown. The site has been discussed as a mixed-use development and could potentially include a hotel. The conceptual plan includes the firms of Neumann Smith, Resurget Engineering and Giffels Webter, as well as construction contractor Colasanti.

Developer Backs Away From Big Boy Site

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The site of Detroit’s only Big Boy restaurant, across from Belle Isle, is back on the market. The Platform LLC has backed away from its plans to build new apartments on the site. The Farbman Group is marketing the property for an undisclosed price. According to a Platform spokesperson, the company remains committed to its work in Detroit. The Platform had envisioned an 8-10-story apartment building with 240 studio, one- and two-bedroom units.

Traverse City’s Cherry Capital Airport Expansion on the Horizon

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Traverse City’s Cherry Capital Airport had its busiest month in July of 2021, serving just under 113,000 travelers. According to the airport’s director, the airport’s peak summer traffic could grow by another 32% by 2030. The airport is making preparations to support that growth. The Northwest Regional Airport Authority approved a parking expansion that will break ground next week. According to Klein, TVC’s existing long-term parking lot has 989 parking spaces. The expansion will  incorporate a new EV charging station, underground stormwater retention systems, and restriping of the existing lot. The expansion sill add 425 spaces in total. Preliminary plans could triple the size of the airport’s terminal in the future.

 

 

 

Former Hyatt Regency Hotel Has Sold

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Rhodium Capital Advisors closed on the purchase of the former Hyatt Regency hotel in Dearborn on Wednesday. The Manhattan-based real estate company purchased the property for an undisclosed sum. The company owns and operates 17,000 apartments across the U.S. It plans to convert the 772-room hotel into a multifamily, market-rate apartment complex with 375 unites. Phase 2 of the $50 million project includes renovation of the restaurant and banquet space on the property.