Up-North Brewing Company Buys Inn To House Employees
/in Northern Michigan /by Tracy WillisA lack of affordable housing in northern Michigan is cramping the style of northern Michigan’s businesses. Short’s Brewing Company needs to hire summer workers, but future employees have nowhere to live. In a creative problem-solving move, the brewery bought the Bellaire Inn and is converting and updating the 26 units as space for its incoming hires. They’ll offer local businesses an opportunity at the remaining units. Each unit will be fully furnished with a bathroom, fridge and microwave. All utilities will be included. The brewery will hire a full-time, on-site inn keeper.
Coalition Suggests Ways For Overtax Paybacks
/in Detroit /by Tracy WillisThe Coalition for Property Tax Justice released a report outlining a series of ideas for ways the city could compensate overtaxed homeowners. It included survey results from more than 200 Detroiters. Ideas included property tax credits, Section 8 rental vouchers, home repair grants, Detroit Land Bank Authority’s rehabbed homes, and as-is Land Bank homes paired with home repair grants or cash payments. Although cash payments to overtaxed homeowners was a main focus, Detroit’s top attorney has indicated that the city cannot use general fund monies to compensate individuals. State law prohibits direct support from the general fund for private purposes.
Rising Mortgage Rates Impact The Housing Market
/in National, SE Michigan /by Tracy WillisRising mortgage rates are not dampening buyer demand. However, getting an offer accepted is no small feat. The rising mortgage rates haven’t brought down prices yet. Buyers could be feeling a sense of urgency to find a home before rates increase further.
Ann Arbor City Council Approves Rezoning Efforts
/in SE Michigan /by Tracy WillisIn an 8-3 vote, the Ann Arbor City Council has given initial approval for the rezoning of over 200 acres around Briarwood Mall. The city-initiated rezoning will need final council approval next month. Its intent is to encourage high-density, mixed-use development with limited building heights determined by the proximity of residential areas. City officials are hopeful that it will lead to a mix of housing and commercial spaces. The three council members who voted against the proposal view the rezoning as a giveaway to developers and landowners.
Downtown Birmingham Office Building Sells for $14 Million
/in SE Michigan /by Tracy WillisFarmington Hills-based Bacall Companies LLC has purchased a downtown Birmingham office building and parking deck at 380 N. Old Woodward Ave for $14 million. The company plans to invest $1 million in renovations that will include tenant improvements. Renovations will begin in the next 45 days. The 42,000-square-foot building is 100% leased and is the second key downtown Birmingham office building sold this year.
Fairlane Town Center Sale Expected Soon
/in SE Michigan /by Tracy WillisNew York city-based company is expected to close next month on the Fairlane Town Center shopping mall in Dearborn. Should the sale fall through with the undisclosed buyer, a back-up buyer is ready to sign a contract and move forward. Fairlane Town Center was built in 1976 and has had financial struggles in recent years. The current ownership is behind on its debts.