Archives
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
WeWork Closing Cass Avenue Location
/in Detroit, SE Michigan /by Tracy WillisNYSE:WE, the New York City-based coworking space provider has announced that it’s closing its space at 6001 Cass Avenue, effective November 10. According to a WeWork spokesperson, they have two other coworking space locations in the immediate area. Three years ago, the company more than doubled its space at the time, adding the 91,000-square-foot location. The location is one of three in Detroit. The company communicated with tenants that they may be relocated to the Detroit locations downtown.
Rising Mortgage Rates Continue to Cool Housing Market
/in SE Michigan /by Tracy WillisAccording to a report by RE/MAX of Southeastern Michigan, metro Detroit’s home sales were down 20% in September when compared to the previous year. This year’s rising mortgage rates have slowed the home-buying craze that started in the summer of 2020. The average 30-year mortgage rate was 6.66% last week. It was just under 3% a year ago. The average home sale price over the four-county region (Wayne, Oakland, Macomb and Livingston) was 2% higher than a year ago. The slowing market appears to be normalizing things, with buyers making fewer concessions than in the previous year.
Detroit Regional Partnership Aims to Entice Industrial Development
/in Detroit, SE Michigan /by Tracy WillisThe Detroit Regional Partnership has created the Verified Industrial Properties web portal, a repository for detailed information on sites in an 11-county focus area, including Wayne, Oakland, Macomb, Washtenaw and Livingston counties. The partnership views the clearinghouse as a way to get rid of leg work and improve the accessibility of metro Detroit site information. Property owners pay to have their sites listed in the web portal. Civil engineers have vetted nine sites, considering zoning, topography, geological conditions, transportation, wetlands, etc. Another 15 sites are under evaluation. Some of the sites in process are large and prominent: The former Summit Place Mall property and 500+ acres of Lyon Township land. The partnership says its sites include urban, suburban and rural.