Michigan Real Estate News

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Pilot Program Pays Storefront Owners to Renovate Upstairs Apartments

Southwest Detroit Business Association’s pilot program grants $8,500 per unit to renovate apartments above commercial spaces. In an effort to expand the number of affordable homes and apartments for city residents, empty and derelict second-floor units are an untapped market. According to Elaina Peterson, a program analyst on the policy and implementation team for the city’s housing and revitalization department, there could be as many as 12,000 unoccupied apartments above stores and restaurants in Detroit. If they were updated and made livable, they would make a huge impact on the number of affordable apartments as rents and sale prices continue to increase. The program is one part of a $203 million housing plan that intends to create new rental housing, help renters to become homeowners, and improve the quality of existing rental units.

 

 

Three Dispensaries and Processing Facility to Open in Grand Rapids

Tommy Nafso, former metro Detroit lawyer and state regulator, and Darel Ross, a Grand Rapids entrepreneur, have partnered to open three cannabis dispensaries and a process facility. They will open the first of the three Noxx dispensaries at 2440 28th St. NW in Grand Rapids this month.  A soft launch is planned for Aug. 22, along with a grand opening September 10. The second dispensary will open in late September. The processing and dispensing facility will be Noxx’s main production and will open in mid-November. Noxx’s three dispensaries will be the most operated by one company in Grand Rapids. The partners plan to hire 150 employees across the three locations.

 

$116 Million Amphitheater Approved by Grand Rapids Leaders

In April, the Grand Rapids City Commission approved a proposal by the Grand Rapids-Ken County Convention/Arena Authority (CAA) to buy over 11 acres of land to build an amphitheater. At its board meeting on Friday, the commission approved a memorandum of understanding with Grand Action 2.0 (GA2.0) that outlines the terms of partnership between CAA and Grand Action 2.0 in developing the amphitheater. The proposed $116 million amphitheater will seat 12,000. It will sit at the southwest edge of downtown Grand Rapids and be slightly smaller than Pine Knob Music Theater in metro Detroit. The CAA is a seven-member board that administers DeVos Place, DeVos Performance Hall and Van Andel Arena. Grand Action 2.0 is an economic development group chaired by Carol Van Andel, Dick DeVos and Tom Welch, Michigan’s regional president of Fifth Third Bank.