Adrian Mall Proposal Includes Mixed-Use Redevelopment

/in , /by

An Adrian Mall proposal aims to redesign the mall into a mixed-use facility that will include multifamily residential housing, anchor business tenants, and different options for retail and dining establishments. A church and self-storage units are also planned. The Adrian Planning Commission hasn’t voted on the proposal yet, but they’ve entered into discussion about the pre-application presentation. Some commissioners expressed optimism toward the presented ideas. An important part of the project is to demolish the water-damaged and mold-laden portion of the mall. Both conditions caused the mall to be condemned two years ago.

 

.

City of Novi Purchases Land for Conservation Efforts

/in /by

The city of Novi is purchasing 8 acres of vacant property with the aim to preserve woodlands and make improvements on Beck Road. According to City Manager Pete Auger, the city will continue to purchase property to maintain wetlands and woodlands using tree fund dollars. However, the $249,000 purchase of the two parcels on Edinborough Lane will come from the general fund. A public meeting regarding Beck Road is expected to take place in January. The road has capacity issues, and improvements have been discussed for years.

 

Ann Arbor’s Plans for Blighted Site Take Shape

/in /by

Ann Arbor’s plans for the transformation of a blighted site across from the YMCA are in the works. The SmithGroup presented new drawings to the Planning Commission that show how the Treeline urban trail for pedestrians and cyclists could run through the east side of the site along the railroad tracks. They include a new housing building and courtyard on the west side of the site that would provide a mix of affordable and market-rate housing. The city is trying address many different public interests with this site. The site plans have been changed multiple times. The newest drawings are still not the plan’s final draft.

 

 

Historic Detroit Hotel Sold

/in /by

Hotel developer Oxford Capital Group LLC and hedge fund Taconic Capital Advisors LP purchased the Westin Book Cadillac hotel in downtown Detroit. They assumed the $77 million in commercial mortgage-backed securities debt owed by the Ferchill Group. They’ll complete the $16.5 million tower renovations over the next two years. The property will remain open throughout the renovation. According to the Detroit Economic Growth Corp., the PA 255 tax abatement is critical the project. It freezes the property taxes at pre-improvement levels after the building has been renovated. Without it, the project would not have gone through.

 

 

 

The Mid Project Faces Another Delay

/in /by

The Mid project, a four-acre development in Midtown, was scheduled to begin in the third quarter this year. The project is now expected to begin in the second quarter of 2022. A spokesperson for the project said that the delays are due to the impact of the pandemic on the industries and components that support the project. The proposal aims to bring two high-rise buildings and other mixed-use development to the north of Detroit’s Whole Foods Inc. store. The project’s two planned phases will both begin in the second quarter. They will include about 300 co-living units, multifamily residential housing, retail space, and a hotel.

 

Detroit’s Former American Motors Corporation Slated For Redevelopment

/in /by

The Kansas City, Missouri-based NorthPoint Development LLC will redevelop the former American Motors Corporation headquarters to the tune of $66 million. An automotive supplier will likely occupy the site. Construction of a 728,000-square-foot industrial facility is planned, pending City Council and other approvals. A specific tenant hasn’t been disclosed, but it’s estimated that the site could employ 300 of more people. Officials expect 150-200 construction workers. NorthPoint’s deal with the city means that the developer would buy 56 acres of land for $5.9 million, including 26 residential parcels owned by the Detroit Land Bank Authority and a Detroit Brownfield Redevelopment Authority-owned property totally 8.5 acres. The $66 million price tag includes the cost to demolish the buildings.

Ford Land CEO Says Goodbye

/in , /by

Dave Dubensky, the CEO of Ford Land and the man responsible for the Michigan Central Station deal, is ending his five year tenure.  He pushed for change and implemented a plan to transform company property in Michigan, throughout the U.S. and around the world. Ford Land manages a total of 240 million square feet of real estate. According to Dubensky, Ford Land focused on modernizing and elevating experiences for global employees that walk through the door of any Ford building in an effort to retain and attract talent.

 

 

Children’s Health Center Construction Underway in Flint

/in , /by

The Genessee Community Health Center, will be completed by next September. The Genesee Community Health Center will house all the children’s services programs of the Genesee Health System. It will be located on a parcel of land on the outskirts of downtown Flint. The center will encompass 60,000-square-feet and cost $22 million. The cost is covered through private and public funding, including grants and new-market tax credits.  Genesee Health System is a provider for Genessee County adults with serious mental illness or substance abuse disorders, as well a children with developmental disabilities.

The Detroit Center for Innovation New Location to be Announced

/in /by

Stephen Ross, Chris Illitch, Mayor Mike Duggan and U of M President Mark Schlissel will reveal the Detroit Center for Innovation’s new site this Monday. Wayne County’s aborted jail site was the originally planned site for the center. The announcement invitation says details about a national tech company coming to Detroit will be shared. The original plans co-developed by Related Cos. and Bedrock real estate firm, but that partnership was dissolved last summer.

 

The Housing Market May Be Calming Down

/in , /by

Experts say the housing market is may be approaching normalcy for 2022. Home prices should continue to rise, but the pace of the increase will be slower than the last two years. Buyers will continue to outnumber sellers which means home inventory will remain low.  Jeannette Schneider, president of RE/MAX of Southeastern Michigan predicts that home values will increase 8-10 percent in 2022. Other experts say models suggest that in October 2022, prices will be 12.8 percent higher than the the year before. The going will continue to be rough for first time home owners.