Michigan Real Estate News

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Pontiac’s Woodward Loop Will Get Pedestrian-Friendly Makeover

Pontiac’s Woodward Avenue Loop opened in 1964 during the urban renewal binge. State high engineers announced they would turn Detroit’s I-375 spur into a street-level boulevard over the next several years. MDOT announced that it’s making a similar commitment for the Woodward Loop. Construction will take place in 2024-2025, along with the simultaneous reconstruction of M-59 through Pontiac. It will include new sidewalks, traffic signals and bike paths. The goal is to turn Pontiac’s Woodward Avenue into a series of pedestrian-friendly two-way boulevards with slower traffic speeds. The project also aims to reconnect neighborhoods to the downtown.

 

 

Bedrock Purchases Former UAW-GM Site

Dan Gilbert, billionaire founder and chairman of Rocket Companies Inc. has purchased the former UAW-GM Center for Human Resource building for an undisclosed price. Developers Dominic Moceri and Christos Moisides bought it a little more than a year ago, paying $34 million for it in November 2020. The purchase adds almost 1 million square feet of office space, in excess of 25 acres of land and 1,600 parking spots to his Detroit-area holdings. Earlier this year, Gilbert purchased the former Stroh family portfolio which gave him over 8.7 acres of developable land, 735 parking spaces and approximately 500,000 square feet of office building.

 

 

City of Novi Purchases Land for Conservation Efforts

The city of Novi is purchasing 8 acres of vacant property with the aim to preserve woodlands and make improvements on Beck Road. According to City Manager Pete Auger, the city will continue to purchase property to maintain wetlands and woodlands using tree fund dollars. However, the $249,000 purchase of the two parcels on Edinborough Lane will come from the general fund. A public meeting regarding Beck Road is expected to take place in January. The road has capacity issues, and improvements have been discussed for years.