Kent County Housing Snags Millions In American Rescue Plan Funds
/in Western Michigan /by Tracy WillisKent County housing is in line for almost $20 million by way of American Rescue Plan funds. The Kent County Revolving Housing Fund will receive $17.3 million, and an additional $500,000 is allotted to Housing Kent for the Kent County Equitable Housing Initiative. The funds represent one of the most significant investments in affordable housing by West Michigan local government. The funds will support new and rehabilitation projects with lower interest rates, allowing the community to leverage $3.30 for every dollar invested. The Kent County Equitable Housing Initiative will help with changes to local zoning.
Petoskey Home Projects Step Toward More Affordable Housing
/in Northern Michigan /by Tracy WillisNorthern Homes Community Development Corporation began construction on two homes near downtown Petoskey. The projects received funding from Charlevoix State Bank and the Federal Home Loan Bank of Indianapolis. According to Northern Homes Executive Director Jane Mackenzie, making the homes affordable for local residents is a tricky endeavor. Households earning less than 80% of the area median income with a family of four will be able to purchase the homes. The properties are part of the Northern Homes Community Land Trust program.
Ann Arbor Attempts To Smooth Building Process For Developers
/in SE Michigan /by Tracy WillisReal Estate developers have complained for years about Ann Arbor’s many requirements and layers of review and approval for building projects. Some have stated that they’ll never do business in the city again because it’s easier and less costly to build new housing in other places. Ann Arbor officials are trying to right that wrong. The City Council voted to shorten the approval process. Projects that meet the city’s zoning requirements will not have to go through council. Instead, they’ll be reviewed and approved by city staff and the Planning Commission. City leaders are discussing more steps to smooth the process as the city tries to attract high-density development along transit corridors.
Gilbert Trades Out Brokerage Firms On Hudson’s Project
/in Detroit, SE Michigan /by Tracy WillisBillionaire Dan Gilbert has hired the local office of New York City-based brokerage house Newmark to attract tenants to the new office space he’s building at Woodward and East Grand River avenues. The move marks a switch from the brokerage he had retained previously. The $1.4 billion Hudson’s site project is probably the highest and largest profile in the city, as of late. The market for office space has taken a beating because of the COVID-19 pandemic, pummeling sites like the Renaissance Center, Meridian Health and Compuware Corporation. The leasing of Gilbert’s 400,000 square feet of new build office space faces a challenging market.
Emagine Is Moving To Walsh College Troy Site
/in SE Michigan /by Tracy Willis.Emagine Entertainment Inc. is moving its headquarters to the Walsh College campus in Troy. The company has leased the second floor of the college’s facility for three years. The building includes an on-site gym, showers, and conference space. Emagine’s Chariman Paul Glantz hopes the amenities will entice workers to come back tot he office. Emagine has hired several Walsh interns and graduates and hopes the new environment will lead to finding and hiring more talent. The company will make the move in January.
Grand Rapids and Grand Haven Receive State Funding For Contamination Cleanup
/in Grand Rapids, Western Michigan /by Tracy WillisThe Michigan Department of Environment, Great Lakes and Energy has awarded a $1.73 million brownfield cleanup grant to Grand Rapids and Grand Haven. The monies will be used for three residential and mixed-use projects on properties contaminated by gas and oil. Grand Rapids’ Boston Square Together is one of the projects that will benefit from the grant, enabling the Brownfield Redevelopment Authority to address the environmental contamination on the site. The monies will also be used for future commercial condominiums in Grand Haven and a planned residential development in northeast Grand Rapids.