Ideas for further development of Ferndale’s parking deck, “the dot,” include 11 apartment units. The apartments would be 1-2 bedrooms, ranging in square footage from 704 to 1,333 square feet. The agreement with the city requires 50% of the apartments to be affordable housing to meet a variety of income levels.
Samaritas moves forward with its plant ot build a 4-story building with 54 apartments for low-income seniors. The development will go up near the recently renovated Al Perri furniture building and will allow Samaritas to consolidate its child and family service in the greater Muskegon and lakeshore area. Construction is slated to being in early […]
The New York Legislature has passed a comprehensive and controversial anti-eviction law. The new law bans tenant evictions for a least another 60 days and offers some foreclosure protection to small business owners, as well as renews tax exemptions for elderly or disabled homeowners. Critics feel the law goes to far and doesn’t require proof […]
The raw number of mortgages in active forebearance rose last week, driven by the share of loans in forebearance and rising from 5.2% to 5.3 % in private label securities or banks portfolios. The share of FHA and VA loans in forebearance also increased. Fannie Mae and Freddie Mac maintained their 3.5% portfolio share from […]
On May 1, when Governor Gretchen Whitmer signed an exectuive order allowing Michigan’s real estate industry to get back to work, the Traverse City market rocketed. The pent-up high demand for real estate, along with the reconfiguration of social patterns due to remote work created an explosion in real estate demand. However, potential buyers may […]
Southeast Michigan-based Pet Supplies Plus has purchased 40 Pet Valu locations in seven states, including Michigan. CEO Chris Rowland expects to top $1 billion in revenue for the second stratight year. With a record year in growth, Pet Supplies Plus plans to add more than 100 locations in 2021.
Loves Furniture is shrinking its business footprint due to supply chain issues in Asia, caused by COVID. The company plans to close Michigan stores in Dearborn, Waterford, Port Huron, Livonia, Burton, Saginaw, Bay City, Muskegon, and Petoskey, where it just opened a store on November 7, 2020. Although the company claims that customer demand is […]
Downtown businesses have lost a significant percentage of their consumers due to remote work trends. The number of empty commercial real estate sites is preventing the resurgence of downtowns. Owners are creatively repurposing empty sites to adapt to the need for affordable housing, remote employee wifi access, and coworking spaces.
