Michigan Real Estate News

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U of D to Redevelop City of Detroit Rec Center

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The University of Detroit Jesuit High School and Academy has purchased the former city of Detroit recreation center and park in northwest Detroit. The 12.5-acre property was purchased in February 2020 for $625,000. As part of the sale agreement, the school will open the renovated center for community meetings and classes, as well as kids’ camps. The all-boys Catholic high school has raised $6.2 million toward the $7.5 million needed for redevelopment. The project will more than double the size of the school’s campus. Renovations on the rec center are expected to be completed by this fall

 

Detroit Coworking Locations Adapt Post-Pandemic

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Prior to the COVID-19 pandemic, numerous coworking spaces were opening or planned in Detroit. While the growth appears to have slowed post-pandemic, and several locations have permanently closed, there are still new coworking locations planned in Detroit.  There are currently about a dozen coworking sites open in the city, with a few more planned in the near future. Some of the new sites are planned for areas outside of the core downtown area.

Mall Properties Transition to the Untraditional

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With mall vacancy rate across the U.S. setting new records, it’s no surprise that malls are standing empty or being repurposed. Two new occupants of the Lakeview Mall in Battle Creek are doing just that. A climate-controlled self-storage developer bought the former Macy’s and plans to rent storage units, reachable by an indoor drive-through, and Horrocks Farm Market will move from downtown Battle Creek into the former JC Penney store. This represents the current trend for mall properties. Development experts look toward transitioning these large retail properties into housing, entertainment venues, medical facilities and other non-traditional mall tenants.