Michigan Real Estate News

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U of D to Redevelop City of Detroit Rec Center

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The University of Detroit Jesuit High School and Academy has purchased the former city of Detroit recreation center and park in northwest Detroit. The 12.5-acre property was purchased in February 2020 for $625,000. As part of the sale agreement, the school will open the renovated center for community meetings and classes, as well as kids’ camps. The all-boys Catholic high school has raised $6.2 million toward the $7.5 million needed for redevelopment. The project will more than double the size of the school’s campus. Renovations on the rec center are expected to be completed by this fall

 

Detroit Coworking Locations Adapt Post-Pandemic

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Prior to the COVID-19 pandemic, numerous coworking spaces were opening or planned in Detroit. While the growth appears to have slowed post-pandemic, and several locations have permanently closed, there are still new coworking locations planned in Detroit.  There are currently about a dozen coworking sites open in the city, with a few more planned in the near future. Some of the new sites are planned for areas outside of the core downtown area.

Detroit Midtown Development Gets a Boost

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Petit Bateau, a $31 million Midtown mixed-use development, received a tax break from the Michigan Strategic Fund. The fund approved a more than $247,000 state tax break to fund environmental decontamination. The 92-unit project also received $2.6 million from the city in tax abatements for decontamination work. Twenty percent of the development’s residential units are set aside for individuals at 80 percent of the area median income or below.