Asphalt Specialists Appeals to City Officials

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Asphalt Specialists, Inc. wants Detroit’s Board of Zoning Appeals to allow construction of an asphalt mixing facility on Detroit’s northwest side. The project had faced opposition from community members and had been rejected by Detroit’s Buildings, Safety, Engineering and Environmental Department late last year. They are proposing a 25-acre facility in an area already zoned for intensive industrial use. The site would have 50-feet-high silos for mixing and storing raw aggregate like gravel and asphalt. The proposal was rejected due to concerns about its proximity to residential neighborhoods.

 

 

Eastern Market Redevelopment Adds New Food And Bar Features

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The northern end of Detroit’s Eastern Market food district is headed for redevelopment. The former Detroit Water and Sewerage Department building is being redeveloped as The Mosaic. Robert Montwaid, who created Gensevoort Market in New York City and Chattahoochee Food Works in Atlanta,  will build a 25,000-square-foot food hall on the site. A 4,000-square-foot rooftop bar is also planned. Construction on the $33 million redevelopment is set to begin this year and is expected to be complete in 2024. The food hall and bar will be open next year.

 

Detroit To Spend Pandemic Relief On Commercial Demolition

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Detroit plans to spend $95 million over the next four years to get rid of or improve vacant business structures across the city. The efforts will use more than 10% of its federal COVID-19 pandemic recovery monies on commercial blight remediation. Previously, the city’s blight removal focus has been more on residential than commercial. The American Rescue Plan Act dollars is changing that. The effort isn’t just about removal, but about preparing for opportunities that will come after demolition.

 

 

Detroit’s January Home Sales Up, Southeast Michigan’s Down

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Detroit’s housing market continues to thrive. Sales and prices are rising at a rate unlike others in the metro area. January’s median sales price was almost a third higher than a year ago. Sales are up 3 percent. They’re down in other areas of the region. The number of homes on the market in Detroit is up more than 26 percent. Across southeast Michigan, sales are down 8.8 percent, and listings have decreased 4.3 percent. Supply continues to be lower than the high demand. Homes are selling faster because there are fewer houses on the market, causing buyers to jump on homes quicker.

 

 

Local Officials Upset About Detroit Zoo’s Great Lakes Center for Nature Plans

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Clinton Township and Mount Clemens officials are frustrated with the Detroit Zoo and its Great Lakes Center for Nature plans. Four years ago, Detroit Zoo officials announced the facility would be located in Macomb County. However, the zoo is now considering a tract of undeveloped wetlands along Hall Road, adjacent to Macomb Community College’s Center Campus. The Clinton Township Treasurer questions the decision of building the nature center in one of the most heavily populated commercial areas of the county. Two years ago, Clinton Township and the city of Mount Clemens offered Shadyside Park on the banks of the Clinton River at no cost to the zoo, noting that the direct access to Lake St. Clair and its established trails would make it an ideal site. The Clinton Township Commissioner is concerned about the minimal benefits the county is receiving from the Zoo for the 0.1 levied on each taxpayer in the county.

 

 

Popular FM Radio Stations Find New Home in Eastern Market

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The building at 2529 Orleans St. in the Eastern Market will soon be the new home for the studios and offices of iHeartMedia Inc. The $24 million redevelopment will house radio stations Channel 95.5, 97.9 WJLB,100.3 WNIC, 106.7 WLLZ, Mix 92.3 FM and the Black Information Network on 1130 AM. Mojo in the Morning, Jay Towers, Bush Man, Dr. Darrius, Ya Girl and Doug Podell and Trudi Daniels will all work and broadcast from the Orleans St. location. Production and other staff will also be housed in the building. The build-out is expected to be finished in May. iHeartMedia studios and local space are currently located in Farmington Hills at 27675 Halsted Road.

 

 

Construction Begins On The Former Joe Louis Arena Site

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Construction is due to begin on the former Joe Louis Arena site for a new residential apartment tower. Several pieces of heavy-duty equipment arrived on late Wednesday afternoon. Colasanti Construction Services Inc. prepped for initial work on the 24-story apartment tower, drilling 100-foot deep caissons. Sterling Group applied for a permit for the building, but no information has been released by the city pending the outcome of the permit review. Part of the vision for the site includes an apartment tower called The Louis, with 500 studio and one-bedroom units. Specific plans for the property have not been made public since Sterling Group acquired the property. Previously, the site had been discussed as a mixed use development, potentially with a hotel.

 

 

 

 

Detroit’s Commercial Property Transactions Lower Than National Average

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Nationally, commercial property transaction volume broke records last year. But in metro Detroit, that was not the case. Last year wasn’t a bad year for property deals in Detroit; there were $1.9 billion in sales across 3,678 deals. 2021 was the fourth-highest year since 2006. Low cap rates, inflation hedging helped to fuel the surge in commercial acquisitions. Property buyers are expecting appreciation in the next few years. Rent growth in multifamily apartments and the industrial, warehouse and distribution sectors are also adding to value growth.

 

 

Michigan’s Foreclosure Numbers Highest in the Country

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Michigan has the highest number of foreclosures than anywhere in the country, according RealtyTrac. However, experts say this isn’t a sign of a worsening housing market. Michigan’s 2022 January figures represent a 622 percent increase over the totals in January 2021. The big leaps are due to the ending of moratoriums that kept foreclosures from moving forward. Wayne County had the bulk of foreclosure activity, and most of those were old foreclosures that were in the process a long time. According to the vice president of RealtyTrac, Michigan’s backlog is moving faster than in other states. He expects that it could take several months before the backlog is cleared out, but that the figures are not a cause for concern.

 

 

Google Joins Ford as Founding Member of Michigan Central

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Technology giant Google announced on Friday that it will be part of the mobility district at the former Michigan Central Depot in Corktown. Ford has emphasized that the campus will be a collaborative district where other companies will work on mobility products and services. Google’s involvement will focus on workforce development for local high school students and job seekers. It will also provide cloud technology for Michigan Central’s mobility projects, including a new Code Next Lab to teach computer science to high school students. Google is also partnering with local nonprofits to offer a career 3-6 month certification designed to equip participants with skills for in-demand fields. Ford will recognize the certificate and consider program graduates for jobs.