Michigan Real Estate News

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Cities Rethink Parking Rules

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The city of Ann Arbor recently voted to remove all minimum off-street parking requirements. Detroit is reviewing its zoning code, possibly implementing new rules regarding how many parking spaces are needed for uses like housing, retail and industrial. Both examples are part of a growing trend in Michigan and around the U.S. as cities rethink their parking rules. Complying with Detroit’s parking requirements is a pain and poses a threat to business growth. Some Detroit-area businesses and organizations think the parking minimums are old-fashioned and block the development of vibrant neighborhoods. Others remain skeptical of entirely scrapping all parking minimums.

 

 

Amazon Pivots, Cancels Warehouse Plans in Ypsilanti Township

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After years of expansion in southeast Michigan, Amazon has begun scaling back by scrapping its plans for a new warehouse building in Ypsilanti Township. The plan had called for a 183,200-square-foot facility and had been dubbed “Project Yoga.” The cost of the project was $21.4 million and was to be constructed on about 30 acres of a 120-acre parcel.  Amazon has also indefinitely postponed it’s plans to build a new facility in Pittsfield Township. Amazon’s footprint in the region includes about 13 million square feet or more and includes redevelopments of the former Pontiac Silverdome site and the former Michigan State Fairgrounds property in Detroit. It’s finalizing construction on a Canton Township facility in the coming weeks.

 

Birmingham Place Property Sells to Bacall Companies LLC

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Bacall Companies LLC has purchased the office and retail portion, as well as some of the parking portions,  of the Birmingham Place property in downtown Birmingham for $37 million. The purchased closed Wednesday afternoon and is the third the company has made in Birmingham’s downtown. They’ve also purchased the property at 380 N. Old Woodward Ave. and the Huntington Center office building at 220 Park St. The purchased portion is between 107,000 and 108,000 square feet with 96 percent leased. Conway MacKenzie, Sotheby’s International Realty and Brooks Wilkins Sharkey & Turco PLLC are the current key office tenants. The purchase doesn’t include the 142 condominiums on the building’s top floors.