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MI-HQ Plans New Life Sciences Place in Ypsilanti
/in SE Michigan /by Tracy WillisAnn Arbor’s Michigan Innovation Headquarters (MI-HQ) has announced that it entered into a purchase agreement to acquire Eastern Michigan University’s former College of Business headquarters in downtown Ypsilanti. It plans to purchase the building for $2.6 million, and with an additional $10 million, renovate it to build shared workspace for STEM companies. The deal will put 130,000-square-foot building on the city’s tax rolls, generating more than $1.1 million of net benefits over a 10-year span. It promises to create 300 jobs.
Detroit World Outreach Church For Sale Post Bankruptcy
/in SE Michigan /by Tracy WillisThe Detroit World Outreach Church property on West Chicago Road at Telegraph Rd. is heading to a public sale next month. The asking price is $7.1 million. The complex consists of multiple buildings, including the 181,000-square-foot main church. The church fell behind on payments after a Chapter 11 bankruptcy. Although a reorganization plan was approved in December, a missed payment to Comerica Bank triggered the sale. Interested buyers can submit an offer of $4.15 million or more, with a $50,000 deposit through July 8. A public sale would be held on July 12 via Zoom.
Demolition Contract For Portion of Packard Plant to be Awarded This Month
/in Detroit, SE Michigan /by Tracy WillisThe Detroit City Council will consider awarding a demolition contract for a portion of the Packard Plant later this month. Only one bidder responded to a May request for proposals to tear down the building at 6199 Concord St. The city will most likely award the contract to the unnamed bidder in the next week. According to the director of the Detroit Demolition Department, the city is moving quickly to tear down that portion of the plant because of the danger it poses to The Display Group Ltd., who operates its Display Group Creative Collective in the adjacent space. Demolition is expected to begin in late summer.