Abandoned Fisher Body Plant To Be Redeveloped

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The Fisher Body Plant No. 21 in Detroit will be repurposed into more than 400 apartments and will include retail space.  Fisher 21 Lofts is a $134 million project that will be up for site approvals later this spring. Redevelopment could start late next year and be completed by 2025. The project would include 433 for-rent apartments. Twenty percent of those would be set aside for below-market rents. It would also include 28,000 square feet of commercial and retail space and 15,000 square feet of co-working space.  The former auto body factory has been abandoned for 30 years.

 

Oakland Mall Sale Expected To Close This Month

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Mario Kiezi, a Troy-based real estate investor and developer, is under contract to purchased Oakland Mall for an undisclosed price. Kiezi’s plans for the mall are unknown.  Letters have been sent to the mall’s tenants informing them of the pending ownership change. Tenants include TJ Maxx, HomeGoods, Kohl’s, Bed Bath & Beyond, DSW, Michaels, and Planet Fitness. Once the sale finalizes, it will be the second suburban mall to sell in March. The sale of Fairlane Town Center is also expected to be finalized this month.

 

Detroit’s Retail Scene Is Transforming

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There has been an almost 11 percent increase in the amount of retail space in the five-county area over the last 15 years. Despite the redevelopments of shopping centers and malls and the bankruptcies of big retailers like Neiman Marcus and JCPenney, the region has added 25.5 million square feet of retail space. Retail has adapted from brick-and-mortar stores to fulfillment centers, and food-related and experience-related establishments. The growth in retail space and the increase in overall spending are contributing to retail’s successful adaptation.

 

 

Old GM Stamping Plant Site Purchased By Real Estate Developer

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Franklin Partners has purchased the old GM stamping plant site in Wyoming. The real estate development firm plans to use the 74-acre site for industrial development. The manufacturing plants will range in size from 150,000 to 1 million square feet.  They purchased the site from the city of Wyoming for $5.25 million. According to Wyoming City Manager, Curtis Holt, the property has tremendous potential for manufacturers.

Ann Arbor City Council Approves Rezoning Efforts

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In an 8-3 vote, the Ann Arbor City Council has given initial approval for the rezoning of over 200 acres around Briarwood Mall. The city-initiated rezoning will need final council approval next month. Its intent is to encourage high-density, mixed-use development with limited building heights determined by the proximity of residential areas. City officials are hopeful that it will lead to a mix of housing and commercial spaces.  The three council members who voted against the proposal view the rezoning as a giveaway to developers and landowners.

 

Woodward West Nears Completion

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Construction crews continue to make steady progress on Woodward West, the five-story apartment building in Midtown Detroit. The residential and retail development has already started pre-leasing and should be completed this summer.  The development will add 204 apartments and 25,000 square-feet of retail space to the Midtown community. The first floor will consist of retail space.

Downtown Birmingham Office Building Sells for $14 Million

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Farmington Hills-based Bacall Companies LLC has purchased a downtown Birmingham office building and parking deck at 380 N. Old Woodward Ave for $14 million. The company plans to invest $1 million in renovations that will include tenant improvements. Renovations will begin in the next 45 days. The 42,000-square-foot building is 100% leased and is the second key downtown Birmingham office building sold this year.

 

Amazon Fresh Grocery Stores Are Taking Their Sweet Time

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Construction on the Rochester Hills Amazon Fresh grocery store has stalled. In fact, work has stalled on three of the four Amazon Fresh stores in the region, Shelby Township, Rochester Hills and Troy. Construction at the Livonia location continues. Although Amazon has never confirmed it’s opening branded grocery stores in the region, sources point to site plans that were submitted to the four communities over the last year. Sources also believe that Amazon is waiting until early 2023 to open all the locations at once. 

 

 

Washtenaw County Clerk Discovers Racial Restriction Policies

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Washtenaw County’s county clerk, Larry Kestenbaum, has been researching county property records for over 17 years. He has found evidence of racially restrictive covenants all over the county. These policies kept people of color from living in many neighborhoods unless they were in-service for white families. A group called Justice InDeed, along with the Civil Rights Litigation Initiative at the University of Michigan  have decided to get involved with the project. Together with Kestenbaum’s office, they filed paperwork to officially repeal and replace the 1947 whites-only policy for the Hannah subdivision in Ann Arbor. Although the restrictions haven’t been legal or enforceable for years, repealing them will affirm the neighborhood’s welcoming inclusivity.

 

Nonprofit Partnership Plans New Multifamily Housing

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CHN Housing Partners, a Cleveland-based nonprofit, is partnering with nonprofit Detroit Blight Busters to build new multifamily housing by Detroit’s Old Redford Neighborhood. The two nonprofits were approved to rezone the property for the project, but still need site plan approval from the city. They plan to build 48 one- to three-bedroom rental units. A “Kid’s Camp” will also be constructed for Blight Busters programs on youth fitness and nutrition. Construction is expected to start in 2023.