Michigan Real Estate News

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Ann Arbor’s Former Lucky’s Market Is Repurposed

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The company, Venue, is bringing a 15-minute neighborhood concept to the former Lucky’s Market space in Ann Arbor. Located at 1919 S. Industrial Highway, Venue is the sister location to Prentice4M, a coworking and co-living space. Venue is slated to open on Friday, August 26, but its coworking space will open on September 1. The 30,000-square-foot location will feature five menus, shared coworking space, a bar, a coffee shop, a market and private office rental space. Venue also hosts a podcast studio, telephone booths and conference rooms. It has partnered with an autonomous vehicle ride-sharing system, as a drop-off and pick-up location for May Mobility’s  A2GO service.

Some Question Bedrock’s 10-Year Tax Break

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A month ago, Detroit City Council Members stressed that stricter requirements for affordable housing are part of the $60 million tax break deal given to Bedrock’s Hudson’s site project. However, Bedrock LLC is almost completely in compliance with those requirements already.  As a result, the company won’t have to change much of anything in exchange for the 10-year tax break deal, including not having to add any affordable units to the project.  Some question if the city’s requirements for Bedrock are stringent enough. The Hudson’s site project is expected to be finished in 2024.

 

 

Corktown Receives A $50 Million Facelift

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The Michigan Department of Transportation and the city of Detroit are co-funding a $50 million renovation of the Corktown neighborhood.  The makeover will include dedicated lanes for autonomous vehicles, raised bike lanes and the removal and repurposing of its red brick pavers. The goal is to tie into Ford Motor Company’s renovation of Michigan Central Station and the vision of creating a connected corridor from Detroit to Ann Arbor. Corktown’s old brick will be removed, restored and reincorporated into other aspects of the roadway’s design. It will be replaced with new red concrete pavers. MDOT will fund $42.7 million, and the city will fund $7.32 million.