Michigan Real Estate News

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Park and Trail Projects Promise Increased Value and Developments

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The Ralph C. Wilson Jr. Centennial Park on the west Detroit riverfront will feature a bear slide, an otter slide, and a slide in the form of a beaver. The park will include swings, trails, a treehouse, a replica of Fort Wayne and an outdoor classroom. The park broke ground on Tuesday afternoon, a month after ground was broken on the Southwest Greenway, a trail being built to connect southwest Detroit neighborhoods to the riverfront. These amenities that come with these projects will help property values, based on many studies that show that the proximity of a public park increases a home’s value. They should also be a catalyst for development in the area.

Renaissance Center Faces More Loss

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Blue Cross Blue Shield of Michigan is vacating the RenCen and consolidating its Health Plan Business employees from that location into the high-rise it owns at 600 E. Lafayette Blvd. Last month, the complex lost Deloitte LLP, its third-largest tenant. At this time, the exact number of BCBSM employees the move impacts is unknown. BCBSM has stated that the move is a result of reintegrating remote workers back into the office environment. It holds a long-term lease through 2026.

 

 

Star Southfield Theater To Be Repurposed

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The Triumph Church is expecting to repurpose the shuttered Star Southfield movie theater into a new campus. The site will include a worship center, a children’s area, a student area and a community space. The church site will also provide assistance with transportation, medical, financial and rental assistance, employment skills training, a pregnancy center and counseling center.  Converting movie theater sites is often difficult due to their sloped floors and layout. The plan includes a 1,600-seat worship center, a 350-seat chapel, and a fellowship hall in the main lobby area.  In other areas of the country, repurposing of theaters has taken on many forms like medical offices, a department of motor vehicles and self-storage.