Michigan Real Estate News

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Children’s Health Center Construction Underway in Flint

The Genessee Community Health Center, will be completed by next September. The Genesee Community Health Center will house all the children’s services programs of the Genesee Health System. It will be located on a parcel of land on the outskirts of downtown Flint. The center will encompass 60,000-square-feet and cost $22 million. The cost is covered through private and public funding, including grants and new-market tax credits.  Genesee Health System is a provider for Genessee County adults with serious mental illness or substance abuse disorders, as well a children with developmental disabilities.

The Detroit Center for Innovation New Location to be Announced

Stephen Ross, Chris Illitch, Mayor Mike Duggan and U of M President Mark Schlissel will reveal the Detroit Center for Innovation’s new site this Monday. Wayne County’s aborted jail site was the originally planned site for the center. The announcement invitation says details about a national tech company coming to Detroit will be shared. The original plans co-developed by Related Cos. and Bedrock real estate firm, but that partnership was dissolved last summer.

 

The Housing Market May Be Calming Down

Experts say the housing market is may be approaching normalcy for 2022. Home prices should continue to rise, but the pace of the increase will be slower than the last two years. Buyers will continue to outnumber sellers which means home inventory will remain low.  Jeannette Schneider, president of RE/MAX of Southeastern Michigan predicts that home values will increase 8-10 percent in 2022. Other experts say models suggest that in October 2022, prices will be 12.8 percent higher than the the year before. The going will continue to be rough for first time home owners.