Michigan Real Estate News

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Michigan’s Rental Aid is Backlogged as Need Continues Rise

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173,000 tenants have applied for the statewide rent aid program that was launched to help renters avoid eviction and meet their payments. Wayne County makes up about one-third of the applicants. Detroiters make up 22% of the rent help applicants. According to the chief operating officer of the Wayne Metropolitan Community Action Agency, they continue to see high numbers of requests for support. The Census Bureau’s Household Pulse Survey reports that between Dec. 1 and Dec. 13,  more than 100,000 Michiganders said they were behind on rent or mortgage payments. Less than half of the applications for assistance were approved as of January 7. Statewide, wait time between application and approval averages 35 to 40 days. In Wayne County, that wait time may take as long as 10 weeks. MSHDA has hired staff combat the backlog and high numbers of applications in Wayne County

Car Wash Manufacturer to Build New Headquarters

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Car wash manufacturer, Tommy Car Wash Systems, is building a new headquarters and manufacturing facility in Holland. The $32.6 million facility will centralize the company’s operations. The expansion site has sat vacant for more than 20 years. The 245,000 square-foot building will house production space, an assembly area, office space and a demonstration center. The project promises to create or preserve 300 new full-time equivalent jobs. The federal New Markets Tax Credit program will enable Tommy Car Wash Systems to provide advancement opportunities with lower levels of education.  Michigan Community Capital, Old National Bank, and Cinnaire are investors in the project. The project should be complete by the summer of 2023.

 

 

The Grand Hotel Owner Snaps up More Island Properties

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KSL Capital Group has purchased three boutique hotel properties and an adjacent restaurant on Mackinac Island for an undisclosed price. The properties include The Bicycle Street Inn, Waterfront Collection North, Waterfront Collection South, and Winchester’s Whiskey and Bourbon Room.  The sale included housing on the island and in St. Ignace for seasonal workers. KSL Capital Group also owns the Grand Hotel. The 3 hotel properties are in the heart of the downtown on the island. KSL Capital Group hopes to potentially provide more job security for seasonal workers who could have the opportunity to work on other properties owned by the group during Mackinac Island’s off-season.