Michigan Real Estate News

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West Michigan Projects Receive Rehabilitation Grants

Multiple projects in West Michigan have received almost $19 million in placemaking and real estate rehab grants from the state. The Right Place, the city of Grand Rapids and city of Muskegon were awarded $18,991,166. Twenty-two grants totaling $83.8 million were approved by the Michigan Strategic Fund board. The grants are part of the Revitalization and Placemaking (RAP) incentive program created to address the impacts of the COVID-19 pandemic in Michigan. The program grants up to $5 million per project for real estate rehabilitation and development and up to $1 million per project for public space improvements.  Up to $20 million can go to local or regional partners who develop a coordinated subgrant program.

 

 

Cities Rethink Parking Rules

The city of Ann Arbor recently voted to remove all minimum off-street parking requirements. Detroit is reviewing its zoning code, possibly implementing new rules regarding how many parking spaces are needed for uses like housing, retail and industrial. Both examples are part of a growing trend in Michigan and around the U.S. as cities rethink their parking rules. Complying with Detroit’s parking requirements is a pain and poses a threat to business growth. Some Detroit-area businesses and organizations think the parking minimums are old-fashioned and block the development of vibrant neighborhoods. Others remain skeptical of entirely scrapping all parking minimums.

 

 

Downtown Detroit Receives Grant Monies for Parks and Real Estate Development

Downtown Detroit parks can expect a facelift in the near future. The Downtown Detroit Partnership was recently awarded a $13.74 million-dollar grant by the Michigan Strategic Fund board. This grant is just one of 22 awarded. Metro Detroit’s awardees are the DDP, the city of Ecorse, the Wyandotte Downtown Development Authority, the city of Mount Clemens, and the East Dearborn Downtown Development Authority. Bedrock LLC and Karp and Associates will get some funds from DDP’s pot of grant money with the redevelopment of Gilbert’s Harvard Square Center building and the former United Savings Bank of Detroit building. A total of 8 projects are part of the funding, according to the DDP.