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Former GM Transmission Plant to be Redeveloped
/in Detroit, SE Michigan /by Tracy WillisNorthPoint Development, the owner of the former General Motors Transmission plant in Warren has a $180 million plan to redevelop the site. The plan is expected to bring 1.4 million-square feet of new industrial space, as well as 600 jobs. According to Warren Mayor James Fouts, the development is a good idea for the city. The company will house multiple tenants on the site. It will make improvements to parking, green space and storm water management. Site jobs will pay at least $15 per hour. This project is just one of many that NorthPoint Development has underway in the Detroit area.
Agree Realty Corporation Portfolio Balloons
/in SE Michigan /by Tracy WillisWhen opportunity knocked, Agree Realty Corp. listened. The Bloomfield Hills-based real estate investment trust capitalized on the COVID-19 pandemic and has doubled its portfolio size and outgrown its recently-expanded headquarters. It will redevelop the former 50,000-square-foot Art Van Furniture Inc. store into a new base of operations. The company has focused on retail properties leased to investment-grade tenants. They’ve bought up properties with a diverse mix of tenants, strengthening their multi-faceted retail game. In less than 3 years, the company’s portfolio has increased from 660 to 1,404 properties across 47 states. Their growth is expected to continue in 2022.
Fenton’s Red Fox Outfitters Building Proposed For Event Venue
/in SE Michigan /by Tracy WillisApplicants Chelsie Welch and Core Cunningham of Cruwood Granary have submitted a special land use permit to turn the Red Fox Outfitters building into a special event banquet facility. The Fenton Planning Commission will hold a public hearing on January 27 to consider the permit. If approved, the facility could host events for up to 200 people. The property is located at 234 N Leroy Street in Fenton in the central business district. It’s current use is listed as retail. The applicants are required to show how the plans support the master plan and maintain cohesiveness with the character of the vicinity.