Proposed Livonia High Rise Apartment Complex Meets Resistance

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A proposed apartment complex development south of Wonderland Village in Livonia has neighbors up in arms. At a recent planning commission meeting, several residents spoke out against the project. The site is owned by Livonia-based Schostak Brothers. The request for the property would be to change the zoning from C-2 General Business to R-8 High Rise Residential. Residents have taken issue with the redevelopment of the site for years, but recent concerns include the appropriateness of a high rise apartment complex in the middle of a shopping center development with tenants having visual access into neighborhood backyards. The developer asked the commission to table the proposal to a future date, in order to work on additional details of the development.

Affordable Housing Options Scarce in Michigan

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According to a report released by the National Low Income Housing Coalition, a two-bedroom apartment in Michigan is unaffordable for minimum wage renters…unless they work 77 hours a week. Affordable housing was an issue prior to the pandemic, and the economic upheaval has only made it worse. Lawmakers are doling out billions of dollars in emergency rent aid, but experts agree that this is only a short-term fix. Communities need more affordable housing options. With the eviction moratorium expiring, evictions are expected to increase, making it tougher still for displaced tenants to find a place to live. Governor Whitmer plans to use $100 million in federal COVID-19 relief dollars to create 2,000 new affordable rental homes, with funds going toward grants and loans for development, preservation of existing housing and security deposit assistance.

 

 

 

Southfield Homeowners Level Accusations of Exploitation

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Former homeowners are accusing Southfield and the Southfield Neighborhood Revitalization Initiative LLC of exploitation. They assert that the company made millions from tax-foreclosed homes over a three year period of time. The company made as much as $10 million from 138 properties after paying more than $2 million in back taxes to acquire the properties. The city has partnered with the company to take homes in the foreclosure process before they go to county auction. A class-action lawsuit in Detroit’s federal court accuses the company and the city of Southfield of taking equity away from former homeowners without reparations.

 

New Mixed-Use Development Coming to Ferndale

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Ferndale’s Rosie O’Grady site is slated for redevelopment. The Ferndale Planning Commission has approved plans for a mixed-use development on the site. It will become the home to an Atlantic and Pacific seafood restaurant, a Mexican barbecue restaurant, office space, and 11 second story apartments. The one or two bedroom perimeter apartments will have balconies along with hot tubs and natural gas fire places. Apartments in the center of the building will have glass walls facing a private courtyard. The apartments are a requirement by the City and the zoning requirements in the Central Business District.

 

 

 

Real Estate Market Trend Predicted to Continue

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Realtors and brokers predict that Metro Detroit home prices will continue their record-breaking trend into the fall and holiday season. Virtual home inspections and online home purchases are likely to return to in-person showings and open houses. In June 2021, single-family real estate sales shattered records with median sales prices at their highest levels ever, and the number of homes available for sale rose for the second straight month. According to Realcomp, the median sales price rose 18.4 percent to $244,000 for single-family homes. Home showings also increased in June, and the average time on the market went from 60 to 22 days.

 

Home Furnishing Store Slated for Birmingham

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Birmingham’s planning board voted to recommend approval of a final site plan and special land use permit for a building that will house RH, an upscale home furnishings store. Formerly known as Restoration Hardware, the store will be housed in a new four-story building on the southwest corner of Old Woodward Avenue and Brown Street. Buildings on that site, at 300-394 S. Old Woodward Avenue, will be demolished to make room for the 54,000 square-foot building. RH will be an anchor tenant in the building. A restaurant will occupy the top floor.

 

Shipping Companies Find a Home in Romulus

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Logistics businesses are moving into Romulus, bringing more than 500 jobs to the area. The Ecorse Commons Industrial Park, near Detroit Metropolitan Airport, houses Hearn Industrial Services, Pitney Bowes, DHL, LaserShip and Lowes Inc. With e-commerce taking off, it joins another million square feet of warehouse space that has been built in Romulus in the past couple of years. The city of Romulus credits the developments to its streamline approach to permits and approvals, as well as the proximity to both Detroit Metro and Willow Run airports.

The Demand for Single-Story Home Construction Increases

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New single-family housing construction in the Great Lakes region is following a nationwide trend. For the last 4 years, the number of single-story homes being built has gradually increased. The number of two or more storied homes has been decreasing. Although single-story homes are more expensive to build, they appeal to older home buyers who have more money to spend as they downsize their homes. That makes single-story sites very lucrative.

Outdoor Living Spaces Tip the Scales

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Outdoor living spaces are a tipping point for homebuyers. Buyers are looking to entertain family and friends in pandemic-proof ways. Home owners want access to golf courses, larger yards, attractive landscaping, and outdoor rooms. Previously buyers may have bought a cabin in northern Michigan, but now they want everything just steps away.  People are focusing on updating and upgrading their outdoor spaces as much as their indoor spaces. Lakefront property is hot right now. Listed lakefront houses and condos are on the market for about 18 days.

 

Buyers Continue Bidding Wars

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It continues to be a “dog-eat-dog” world for home buyers. Brokers advise clients to get pre-approval, save, and have some cash to bring to the table. Many home buyers are waiving home inspections, bidding before seeing the home, paying cash, and paying thousands over the asking price to get to the closing table. With more buyers than sellers, the competition is vicious with the average home going for $10,000 over the asking price. Appraisal guarantees are deal-makers, and buyers will have a hard time winning a bid without one.