Michigan Real Estate News

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Weekly Brief – June 21, 2021

While fathers around the United States celebrated Father’s Day yesterday, I celebrated as well with my family. My weekly brief will return next week!

Detroit Coworking Locations Adapt Post-Pandemic

Prior to the COVID-19 pandemic, numerous coworking spaces were opening or planned in Detroit. While the growth appears to have slowed post-pandemic, and several locations have permanently closed, there are still new coworking locations planned in Detroit.  There are currently about a dozen coworking sites open in the city, with a few more planned in the near future. Some of the new sites are planned for areas outside of the core downtown area.

Detroit Midtown Development Gets a Boost

Petit Bateau, a $31 million Midtown mixed-use development, received a tax break from the Michigan Strategic Fund. The fund approved a more than $247,000 state tax break to fund environmental decontamination. The 92-unit project also received $2.6 million from the city in tax abatements for decontamination work. Twenty percent of the development’s residential units are set aside for individuals at 80 percent of the area median income or below.