Deeply Affordable Housing Units Planned for Detroit
/in Detroit /by Tracy WillisDevelopers Cinnaire Solutions, Woodbridge Neighborhood Development Corp., CHN Housing Partners and Detroit Blight Busters will create nearly 200 new units for at-risk residents. The four new housing projects will created 183 affordable units for residents who earn 60 percent of the area median income ($42,960 for a family of two). The projects will also include 20 market-rate apartments. Old Redford, Midtown, Woodbridge and MorningSide neighborhoods are the site of the new units. They are funded, in part, by $38 million in Low-Income Housing Tax Credits from the state.
Ginosko Development Buys Apartments To Modernize and Preserve
/in SE Michigan /by Tracy WillisMichigan-based Ginosko Development has partnered with New York-based L+M Development Partners to purchase nine Michigan rental properties with more than 1,600 affordable apartments. They plan to modernize and preserve the low-cost units. The properties include 1,640 units in 115 buildings in Michigan. More than half are for seniors. Seven of the nine properties have contracts with the U.S. Department of Housing and Urban Development for Section 8 housing. Improvements to the interiors and exteriors of the buildings are planned, including bathroom and kitchen renovations, modernizing amenity areas, upgrading mechanical systems and improving landscaping.
Coyote Golf Club Facing Possible Residential Conversion
/in SE Michigan /by Tracy WillisThe Coyote Gold Club in Lyon Township is under contract to be sold to SE Metro Property Services LLC of Birmingham. The 200-acre property would be converted into 107 townhomes valued at $400,000 and 203 single-family residences valued at $600,000. The three-phase development would begin in the summer of 2024. The townhouses clustered in 26 buildings would be located on the northern edge of the property, and the single-family homes would be on the southern end. The golf course redevelopment would work its way through the municipal process over the next year or so with various planning commission and township board approvals.
Blake’s Orchard & Cider Mill Takes Over Erwin Orchards
/in SE Michigan /by Tracy WillisBlake’s Orchard & Cider Mill owners will take over operations at Erwin Orchards. They hope to maintain the integrity of Erwin’s but with a Blake spin on it. Orchard Crossing, a 181-acre development at Silver Lake and Kent Lake roads will be positively impacted by the deal. The Orchard Crossing development will leave 104 acres for preservation of orchards, the cider mill and other new enterprises. Blake’s is planning a 20,000-square-foot tasting room with a full-service restaurant, bar service and cidery/beer brewing. The year-round facility will be located on the northeast corner of Silver Lake and Ken Lake roads. The north side orchard operations area will also include a 20,000-square-foot venue with a 400-person capacity and an outdoor patio. On the south side of Silver Lake, the existing cider mill will be expanded with a cider press, cafe, retail sales and office.
Furniture Company Leases Former Art Van Headquarters
/in SE Michigan /by Tracy WillisThe Florida-based Ashley Furniture Industries is leasing the old Art Van Furniture Inc. headquarters. Ashley Furniture is leasing 186,000 square feet of the 1 million-square-foot-plus property. Ashley Furniture’s lease, along with the square footage that Gardner White is leasing, has filled up about 57 percent of the Art Van property. Operations are expected to start in the building soon. Brasswater currently owns the property.
Amazon Ditches Square Footage
/in Detroit, SE Michigan /by Tracy WillisAmazon is subleasing at lease 10 million square feet and possibly terminating leases in New York, New Jersey, Southern California and Atlanta. The figure could be as high as 30 million square feet. This is in contrast to the the company’s acquisition of 200 million square feet during the pandemic. In the Detroit area, it’s a different story. The company currently occupies or is building at least 13 million square feet. According to sources, Amazon was more deliberate in the Detroit area, as opposed to other areas where it acquired square footage where it could find it. The company also seems to be dropping smaller spaces and not mega-centers like those in the Detroit area.