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Park and Trail Projects Promise Increased Value and Developments
/in Detroit, SE Michigan /by Tracy WillisThe Ralph C. Wilson Jr. Centennial Park on the west Detroit riverfront will feature a bear slide, an otter slide, and a slide in the form of a beaver. The park will include swings, trails, a treehouse, a replica of Fort Wayne and an outdoor classroom. The park broke ground on Tuesday afternoon, a month after ground was broken on the Southwest Greenway, a trail being built to connect southwest Detroit neighborhoods to the riverfront. These amenities that come with these projects will help property values, based on many studies that show that the proximity of a public park increases a home’s value. They should also be a catalyst for development in the area.
Renaissance Center Faces More Loss
/in Detroit, SE Michigan /by Tracy WillisBlue Cross Blue Shield of Michigan is vacating the RenCen and consolidating its Health Plan Business employees from that location into the high-rise it owns at 600 E. Lafayette Blvd. Last month, the complex lost Deloitte LLP, its third-largest tenant. At this time, the exact number of BCBSM employees the move impacts is unknown. BCBSM has stated that the move is a result of reintegrating remote workers back into the office environment. It holds a long-term lease through 2026.
Building Permit Issued For Former Joe Louis Arena Site
/in Detroit /by Tracy WillisA building permit has been issued for the planned apartment tower on the former Joe Louis Arena site. A large office tower is also planned. Crews have been on the property since winter. The apartment building construction is expected to be complete within the next two years. There has been talk of building two hotels with about 750 rooms each. A 20-story office tower of 150,000-300,00 square feet is planned for the northern portion of the property. The construction timelines for the office and hotel buildings is unknown. A building permit was issued Wednesday for the apartment tower planned for the former Joe Louis Arena site in downtown Detroit.