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Ann Arbor’s Plans for Blighted Site Take Shape
/in SE Michigan /by Tracy WillisAnn 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.
Ford Land CEO Says Goodbye
/in National, SE Michigan /by Tracy WillisDave 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 Northern Michigan, SE Michigan /by Tracy WillisThe 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.
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Study Takes Aim at Home-Grown Marijuana Market
/in Detroit, Grand Rapids, Northern Michigan, SE Michigan, Western Michigan /by Tracy WillisMuch of Michigan’s marijuana industry is outside mainstream retail outlets. The Michigan Cannabis Manufacturers Association commissioned a study says that millions in taxes and fees could be captured from illicit marijuana markets. While there is no current legislation concerning home cultivation, the information from the study will be used to inform legislators in Lansing. It’s speculated that the MCMA may seek to change the state law passed in 2018 in order to upend the home cultivation rules. The interest is in bulking up the legal retail market and tax revenue.
Detroit’s Eastern Market Area Gains Office Space
/in Detroit /by Tracy WillisDetroit’s Eastern Market and its food-centric footprint is the target of a $24 million office redevelopment plan. Developer Christos Moisides has big plans for a former cold storage building at 2529 Orleans St. The 63,400 square-foot building would included 55,000 square feet of office space. The remainder would be commercial space that would included a brewery and restaurant. Moisides paid $4.1 million for the building and will spend over $17.4 million on construction and other costs. He is seeking a 12-year tax abatement from the city.
Investors Add to Competitive Housing Market
/in Detroit, National, SE Michigan /by Tracy WillisWith limited housing inventory, homebuyers are already over a barrel when shopping for a new home. But add investors into the mix and the market becomes even tougher. Nationally, Metro Detroit has experienced the second-highest increase in the number of investor-purchased homes year over year. Investors are cash buyers who can close more quickly which makes it even harder for buyers getting a mortgage. But for the seller, cash is king and a cash sale allows a seller to move on with their future.