Michigan Real Estate News

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Judge Orders Extension On Foreclosure Protections

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The Wayne County Treasurer filed a motion requesting that the redemption period on property tax foreclosures be extended. Judge Timothy Kenny ordered that foreclosure protections for occupied homes and commercial properties be extended to March 31, 2022. The order will keep properties off the annual auction block. However property taxes must continue to be paid. The Treasurer asserts that the main objective is to keep people in their homes.

Stellantis Pilots New Work Model

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White-collar workers at Stellantis are likely to continue working remotely much of the time once they formally come back to the office. The company has devised a new work model that it calls the New Era of Agility. As part of a new pilot program in October, 450 employees will return to the Chrysler Technology Center at the headquarters complex in Auburn Hills. What’s learned in the pilot program will determine how the company proceeds with its remaining employees, but it envisions a split of 70% remote work to 30% on-site time.

Black-Owned Commercial Real Estate Firm Adds Diversity

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The commercial real estate industry is historically homogeneous, populated largely by white men in the executive ranks, even in a city like Detroit, where the population is more than 80 percent Black. The Greenwood Commercial Real Estate Group adds some diversity to the homogeny. The firm is named for the Greenwood District of Tulsa, Oklahoma,  commonly called Black Wall Street and at one time a thriving Black economic hub before it was destroyed in 1921 after the arrest of a young Black man for the purported “assault” of a 17-year-old white girl. James Pitts, head of the Atlanta office of Greenwood, believes that Greenwood CRE will help Black real estate professionals break into commercial real estate.