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Ginosko Development Buys Apartments To Modernize and Preserve
/in SE Michigan /by Tracy WillisMichigan-based Ginosko Development has partnered with New York-based L+M Development Partners to purchase nine Michigan rental properties with more than 1,600 affordable apartments. They plan to modernize and preserve the low-cost units. The properties include 1,640 units in 115 buildings in Michigan. More than half are for seniors. Seven of the nine properties have contracts with the U.S. Department of Housing and Urban Development for Section 8 housing. Improvements to the interiors and exteriors of the buildings are planned, including bathroom and kitchen renovations, modernizing amenity areas, upgrading mechanical systems and improving landscaping.
Coyote Golf Club Facing Possible Residential Conversion
/in SE Michigan /by Tracy WillisThe Coyote Gold Club in Lyon Township is under contract to be sold to SE Metro Property Services LLC of Birmingham. The 200-acre property would be converted into 107 townhomes valued at $400,000 and 203 single-family residences valued at $600,000. The three-phase development would begin in the summer of 2024. The townhouses clustered in 26 buildings would be located on the northern edge of the property, and the single-family homes would be on the southern end. The golf course redevelopment would work its way through the municipal process over the next year or so with various planning commission and township board approvals.
MI-HQ Plans New Life Sciences Place in Ypsilanti
/in SE Michigan /by Tracy WillisAnn Arbor’s Michigan Innovation Headquarters (MI-HQ) has announced that it entered into a purchase agreement to acquire Eastern Michigan University’s former College of Business headquarters in downtown Ypsilanti. It plans to purchase the building for $2.6 million, and with an additional $10 million, renovate it to build shared workspace for STEM companies. The deal will put 130,000-square-foot building on the city’s tax rolls, generating more than $1.1 million of net benefits over a 10-year span. It promises to create 300 jobs.