Deeply Affordable Housing Units Planned for Detroit

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Developers Cinnaire Solutions, Woodbridge Neighborhood Development Corp., CHN Housing Partners and Detroit Blight Busters will create nearly 200 new units for at-risk residents. The four new housing projects will created 183 affordable units for residents who earn 60 percent of the area median income ($42,960 for a family of two). The projects will also include 20 market-rate apartments. Old Redford, Midtown, Woodbridge and MorningSide neighborhoods are the site of the new units. They are funded, in part, by $38 million in Low-Income Housing Tax Credits from the state.

 

 

 

Ginosko Development Buys Apartments To Modernize and Preserve

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Michigan-based Ginosko Development has partnered with New York-based L+M Development Partners to purchase nine Michigan rental properties with more than 1,600 affordable apartments. They plan to modernize and preserve the low-cost units. The properties include 1,640 units in 115 buildings in Michigan. More than half are for seniors. Seven of the nine properties have contracts with the U.S. Department of Housing and Urban Development for Section 8 housing. Improvements to the interiors and exteriors of the buildings are planned, including bathroom and kitchen renovations, modernizing amenity areas, upgrading mechanical systems and improving landscaping.

 

 

Coyote Golf Club Facing Possible Residential Conversion

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The Coyote Gold Club in Lyon Township is under contract to be sold to SE Metro Property Services LLC of Birmingham. The 200-acre property would be converted into 107 townhomes valued at $400,000 and 203 single-family residences valued at $600,000.  The three-phase development would begin in the summer of 2024. The townhouses clustered in 26 buildings would be located on the northern edge of the property, and the single-family homes would be on the southern end. The golf course redevelopment would work its way through the municipal process over the next year or so with various planning commission and township board approvals.

Bankhole Thompson Calls Out Bedrock’s Tax Subsidy Grab

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According to Bankole Thompson, Detroit needs improvements that will impact the lives of its ordinary residents. The tax breaks for big companies are off the backs of ordinary citizens. Residential poverty still exists because of the lack of initiatives designed to make a difference. The city has given away huge tax subsidies to highly capitalized companies who don’t follow through with concrete plans. This is what’s creating the opposition to Dan Gilbert’s request for $60 million in tax breaks for the Hudson site project. Gilbert has the money to complete the project without a tax break from disenfranchised Detroiters. The author believes the heart of the issue is a civil rights issue. The jobs that are promised during the PR blitz for subsidies often do not materialize. The City Council should use the tax break Gilbert wants for more important quality of life issues.

 

 

MI-HQ Plans New Life Sciences Place in Ypsilanti

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Ann Arbor’s Michigan Innovation Headquarters (MI-HQ) has announced that it entered into a purchase agreement to acquire Eastern Michigan University’s former College of Business headquarters in downtown Ypsilanti. It plans to purchase the building for $2.6 million, and with an additional $10 million, renovate it to build shared workspace for STEM companies. The deal will put 130,000-square-foot building on the city’s tax rolls, generating more than $1.1 million of net benefits over a 10-year span. It promises to create 300 jobs.

 

Detroit World Outreach Church For Sale Post Bankruptcy

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The Detroit World Outreach Church property on West Chicago Road at Telegraph Rd. is heading to a public sale next month.  The asking price is $7.1 million. The complex consists of multiple buildings, including the 181,000-square-foot main church. The church fell behind on payments after a Chapter 11 bankruptcy. Although a reorganization plan was approved in December, a missed payment to Comerica Bank triggered the sale. Interested buyers can submit an offer of $4.15 million or more, with a $50,000 deposit through July 8. A public sale would be held on July 12 via Zoom.

 

 

Demolition Contract For Portion of Packard Plant to be Awarded This Month

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The Detroit City  Council will consider awarding a demolition contract for a portion of the Packard Plant later this month.  Only one bidder responded to a May request for proposals to tear down the building at 6199 Concord St.  The city will most likely award the contract to the unnamed bidder in the next week. According to the director of the Detroit Demolition Department, the city is moving quickly to tear down that portion of the plant because of the danger it poses to The Display Group Ltd., who operates its Display Group Creative Collective in the adjacent space. Demolition is expected to begin in late summer.

 

Long Awaited Demolition on Detroit Building Begins

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The Gateway Center building, across from the Westin Book Cadillac hotel, is being demolished. Plans for the demolition have been known as far back as 2016.  The upper exterior on its western side was removed by Thursday afternoon. The demolition is expected to be finished by August. Owner Richard Karp indicated that he wanted to do a mixed-use development back in 2016. He declined to comment on the recent activity. Entities linked to Karp’s Lansing-based Karp and Associates development firm paid $700,000 for the building in 2013.

 

Historic Downtown Building Changes Hands in $5.9 Million Deal

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The historic Merchants Building in downtown Detroit has sold in an off-market deal for $5.9 million.  A party linked to Detroit-based Method Development LLC bought the building last month. Method will share full development plans for the project in the near future. Broadway Merchants LLC bought the building in 1996. The building was listed in 2014 for $4 million, but never traded hands.  Method has been active in other parts of the city, as well.

 

Ann Arbor Rezones For High-Density Downtown Area

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The city of Ann Arbor has rezoned over 200 acres by Briarwood Mall with the intent of developing a high-density downtown area. The West Stadium and North Maple area may be next. The rezoning is meant to increase housing density along transit corridors and commercial development, creating a more pedestrian-friendly area. Feedback on the idea has been mixed. City officials are looking for more input and will hold a virtual webinar over Zoom at 7 p.m. on Tuesday, June. 14.