Michigan Real Estate News

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Lawyer – No Light at the End of the Pandemic Tunnel for Property Owners

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The future of real estate continues to be in a flux. At a federal level, GSEs have continued to extend foreclosure and eviction moratoriums through June 30, 2021. The Center for Disease Control issued its own eviction moratorium in September 2020, and the Biden administration has extended it through March 31, 2021. In Michigan, the pandemic’s eviction moratoriums have expired, although the Michigan Supreme Court has recognized the CDC Order. No formal foreclosure moratoriums were ever instituted in Michigan, but social distancing requirements have halted the proceedings that are held in courthouses which have been closed to the public during the pandemic.

Lansing-Based Developer Contracts the Linda Dresner Building

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Ron Boji, head of the Lansing-based Boji Group, has put the Linda Dresner Building in Birmingham under contract for an undisclosed amount. Boji has letters of intent from two national retailers. Although he isn’t disclosing who the retailers are, one of them will occupy the first floor of the Dresner building and the other will occupy the Maplewood Building he purchased last year. Boji Group will relocate its headquarters to the second floor of the Dresner building while continuing to maintain a presence in Lansing.

Farmington Hills Hotel Pivots Due To The Pandemic

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The Farmington Hills’ Holiday Inn and Suites, NW Detroit, is shifting its focus. Due to the pandemic, hospitality and restaurants have taken a beating. Southfield-based Group 10 Management is converting the hotel (which was opened in 2018) into senior independent living quarters. 76 apartment units would be created from 133 hotel rooms in the current hotel layout. The company has kept two other properties in the same location open as hotels as there is a need for extended-stay facilities.