Michigan Real Estate News

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Ann Arbor Takes Steps Toward a More Walkable Neighborhood

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Ann Arbor real estate developer, Oxford Companies, plans to build a new apartment building on Ann Arbor’s south side. The space is currently used as parking for its main office. No timeline has been set for construction. The development endeavors to create a more walkable and livable neighborhood. The 226-acre area may potentially be rezoned to allow new buildings up to 300 feet which will develop a high-density and mixed-use area to create a downtown environment. The proposal would require the rezoning of 69 properties, including those around Briarwood Mall.

 

 

Washtenaw Conservationists Purchase Acreage

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The Michigan Land Conservancy purchased 162 acres of wetlands, forest and former cropland for $1 million. The acreage is located east of Ann Arbor in Superior Township. This is a second purchase toward preservation efforts in Superior Township. Previously, Superior Township leaders voted unanimously to buy 300 acres known as the “Rock property.” The newly-purchased Michigan Land Conservancy parcel is next door to that property and the township-owned Cherry Hill Nature Preserve. The speedy transaction was financed through private loans and donations, including a loan and donation from Detroit Audubon.

 

 

 

Residential Sale Prices Continue Upward Trend

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Prospective buyers in Michigan’s housing market placed higher bids in 2021. A lack of inventory caused a 13.8% increase in residential sale prices in 2021 compared to the same period in 2020. There was a 3% increase in total sales. Branch County, Detroit, Bay County, Sanilac County and Mason, Oceana and Manistee counties reported higher than 20% increases in housing prices. Gratiot, Isabella, St. Joseph, Greater Shiawassee and Hillsdale counties reported less than 7% housing price increases. Antrim, Charlevoix and Kalkaska were the only to counties to report a decrease in home prices (-0.7%).