Sterling Group’s quick sale of the Joe Louis Arena parking garage netted eight figures for the Detroit real estate company. Sterling Group purchased the property from the City of Detroit in a deal that became public in October 2019. The real estate company paid $2 million in cash to the city and reimbursed the city […]
The historic former Detroit Country Day School building has sold. The 38,500-square-foot building has sold to JCJ Development LLC which is registered to Jordan Jonna. JCJ Development will convert the original school building into a residence. In 2017, Detroit Country Day announced a $30 million campus expansion and vacated the building. The building received a […]
States and cities in the U.S. are cracking down on a niche in house-flipping known as wholesaling. The wholesalers do not typically hold real-estate licenses which makes regulation difficult. Wholesalers negotiate with homeowners and then put the homes under contract and sell those contracts to home-flippers. A home that just needs a little upgrade […]
A beachfront house in New Buffalo will set a new record for Southwest Michigan. It will be the fourth home in New Buffalo to sell for $4 million or more in the past year. The real estate boom in Southwest Michigan is not only at the upper end of the market. Along the 16-mile strip […]
The property at 30250 Grand River Avenue in Farmington Hills will flip flop, once again. Formerly an auto dealership, the property most recently housed a school, Steppingstone School for gifted children. The school moved on in 2018, leaving the building empty. A Farmington Hills developer will revive the property and bring it back to its […]
Two Michigan bills that address short-term home rentals have created intense debate about who will determine how to regulate dwellings like Airbnb or vacation rentals. The Ann Arbor-based Michigan Municipal League and Lansing-based Michigan Association of Realtors are on opposite sides with each asking its constituents to email, call and write to their local legislators […]
Bills in the Michigan legislature that have bipartisan support would nix local laws that ban or limit short-term rentals through zoning. The bills are controversial and have garnered heated debate. Proponents like Airbnb, realtors, and lawmakers from both parties say the proposed changes to state law are about personal property rights and do not prevent […]
In keeping with vacation locales in Michigan’s Lower Peninsula, the prices of vacation properties in the Upper Peninsula are on the rise. With limited inventory, many of the recent cottage buyers hail from out of state and intend to use their new U.P. properties during winter months as well as summers. Realtors are seeing multiple […]
Farmington Hills Council denied a 26-home development because of concerns about the property’s density. The development was proposed for the former Piemontese Social Club site and would’ve been geared toward senior citizens wanting to downsize. Both council and neighboring community members expressed concerns about the closeness of the homes to each other. The ranch-style homes […]
Detroit has been awarded a $30 million federal grant to add more mixed-income housing and improve neighborhood conditions in the Corktown area. The grants are designed to redevelop distressed housing, boost social services and improve public spaces. The grant will be used to replace the 87-unit Clement Kern Gardens Apartments with 841 units of mixed-income […]
